Sprint (NYSE: S) implemented a new “Same Day Pay” program, providing day-of compensation to its 5G network builders and suppliers by shortening administrative overhead and collapsing the overpayment process. The program is part of the end-to-end digitalization of field services started in 2018, with the Scopeworker platform.
Sprint suppliers can now submit their close-out packages directly from the cell site through Scopeworker, a B2B platform that digitizes complex field services and automates procurement, management, and payment of supplier services.
Once Sprint accepts the package in real-time, administrative documents and invoices are reconciled, allowing suppliers to invoice and select “Same Day Pay” financing from working capital finance provider Greensill.
“Sprint is digitizing field services from start to finish and democratizing the supply chain,” said Chas Peterson, head of procurement & supply chain for Sprint. “We bring it full circle by working with small, minority- and veteran-owned businesses, ensuring that their high-quality work is met with same day compensation so they can continue building their businesses without worry of being paid.”
Wireless carriers traditionally struggle to reconcile the documentation required to approve a supplier’s invoice. In the United States, suppliers can wait up to three months – or more – for documentation and invoice approval, delaying payment even further, Inside Towers reported. By automating the procurement, management and payment processes, Sprint says it can achieve cost-effective deployment of its 5G network; the changes will ultimately remove disconnected platforms and ensure work crew availability, according to the carrier.
“Sprint and Scopeworker are working in unison to improve operations and increase satisfaction on both sides,” said General David Leakey, advisor to Scopeworker’s board of directors. “By encouraging faster payment processes, we are able to reach deadlines quicker from end-to-end without sacrificing quality of work. Our platform also allows banks to use real-time analytics to provide data-driven financing prior to completion of the project.”
In response to the Sprint changes, NATE Executive Director Todd Schlekeway told Inside Towers, “As an organization, NATE has been concerned about the disturbing lagging payment terms that contractors are witnessing. This is an issue I hear about frequently from the association’s members. There is no question that these extended terms will impact 5G deployment. NATE is hopeful that Sprint’s announcement could assist in reversing the trend of extended payment terms so that contractors are capable of funding additional work as their cash flow improves.”
A tower work crew owner who has handled jobs for T-Mobile has experience with Crown Castle’s automated, real-time closeout tool, which is different than what Sprint is using.“It was problematic at first, but since has started working great. We’ve done a couple million in small cells for them this year and they’ve promised a lot more for next,” he told Inside Towers.
Has anyone received these same day payments yet? How did they work? Let Inside Towers know at: email@example.com.
November 19, 2019
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