How does Earlytrade work?
Coles has teamed up with Earlytrade to provide you a fully secure Supplier Portal where you can take charge of when Coles pays you.
Access the cash flow you need to run and grow your business by tracking your approved invoices and requesting early payments when you need them.
Access the cash flow you need to run and grow your business by tracking your approved invoices and requesting early payments when you need them.
Step 1
Greater transparency
Track and view your invoices
Complete the simple one-click registration to view and track invoices as they are uploaded from Coles
Step 2
More control
Request early payment
Based on your cash flow needs, request early payment at a rate that works for your business, with complete confidentiality
Step 3
Better liquidity
Receive payment, earlier
You will be paid in the next pay run if your offer succeeds in the marketplace. Coles will pay you directly as normal, but earlier
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Frequently Asked Questions
Got a question about how the Coles and Earlytrade partnership works?
What is Earlytrade?
Earlytrade is a platform where suppliers can view their outstanding invoices with a date when payment will be made. It also has the functionality to allow suppliers to receive payment for any outstanding invoices as soon as the following day by making an offer for early payment.
How do I get started?
You need to register. Registering is free and takes less than 5 minutes. When registering ensure you use your work email address (e.g. yourname@yourcompany.com) and your Supplier ID (typically found on your purchase order).
Can I use Earlytrade if I am not a small supplier?
Yes, you can still participate on Earlytrade if you are not a small supplier.
Will the use of Earlytrade cost me?
The Earlytrade platform is free for suppliers to access their profile and have invoice visibility. Accessing early payments is run through a bidding system where a supplier can nominate an amount they are comfortable to forgo for early payment.
What happens if I choose to not participate on the Earlytrade platform?
It is entirely up to suppliers whether they wish to use the platform, and whether they use it simply to keep track of invoices or as a means to be paid more quickly. If you choose not to make use of the early payment functionality of the platform you will continue to be paid as per the payment terms set out in your Trading Terms Agreement of contract.
Why is Coles running this initiative?
Coles Liquor is committed to simplifying the way we work together with our suppliers. By using Earlytrade suppliers get improved visibility of their invoices, and have the flexibility to manage their cashflow.
Will I be paid directly by Coles?
Earlytrade does not require you to restructure your payment method, you will continue to be paid directly by Coles.
What are the rates?
You determine the rate you are willing to offer to receive early payment. This can be set and changed as often as you desire to suit the needs of your business prior to 4pm (AEST) each business day.
Example:
For a $1,000 invoice that was being requested 30 days early; a 3% annualised discount offer would equate to a $2.50 total discount, to receive $997.50 of payment early.
Example:
For a $1,000 invoice that was being requested 30 days early; a 3% annualised discount offer would equate to a $2.50 total discount, to receive $997.50 of payment early.
How do I contact support?
You can reach Earlytrade support at coles@earlytrade.com, or talk to the team at 02 8103 2165.
Where can I find more information on Coles' Payment Policy?
You can access Coles' Payment Policy from the following links
Sydney
Level 9, 323 Castlereagh Street
Haymarket NSW
Australia 2000
Level 9, 323 Castlereagh Street
Haymarket NSW
Australia 2000
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