One of the main reasons businesses choose Slice is that the supplier gets paid in full, on time, while you spread the cost. From the supplier's point of view, the bill is simply settled.
What happens on approval
- We pay the agreed bill amount to the supplier, normally by bank transfer
- Your account with that supplier is brought up to date
- You then repay Credicorp on the instalment schedule in your offer
Does the supplier need to be involved?
Generally the supplier does not need to do anything special — they receive a payment as they normally would. You stay in control of your supplier relationship; we are simply the company that funds the bill and that you repay.
Keeping records straight
Because the supplier is paid in full, your purchase ledger reflects a settled invoice, and your finance records show a separate, clearly defined obligation to Credicorp. Many businesses find this cleaner than part-paying a supplier over time.
If a supplier ever queries whether they have been paid, your account with us shows the payment details, so the position is easy to confirm.
See also: What if my company can only pay part of this month's amount?, What is Credicorp Slice? and Can my company make a partial payment if it cannot pay in full?.