The Crown Commercial Service (CCS) financial services team received recognition as one of the top 10 deals of the year at the Trade Finance Awards 2019. The event was well attended by many international financial intermediaries and trade press. The award is for our work with NHS Business Services Authority (BSA) through the Supplier Early Payment Solutions (SEPS) framework. This allows pharmacists delivering prescription services in the UK to be paid earlier than their contractual payments terms, releasing much-needed working capital and supporting the delivery of key public services.
It is extremely rewarding being recognised by the trade finance market along with other winners on the night including leading international financial institutions such as BNPP, HSBC and Santander. There was also recognition for UK Export Finance and their work in the trade finance arena.
We have been able to offer NHS BSA a market leading commercial model to allow their key pharmacy supplier base to bepaid early, securing access to local community pharmacies for taxpayers nationwide. Through our collaborative approach with NHS BSA, we are able to offer a significant specification improvement at zero cost to them. This is helping generate recognition for the Pharmacy Early Payment Programme (PEPS) and the important low-cost liquidity it offers to those organisations delivering frontline services.
It has been a successful award season for us with awards from Supply Chain Finance (SCF) Briefing (Best European SCFProgramme) and the Global Trade Review. Our success would not have been possible without the support of our supplier Taulia, their capital provider Greensill and our colleagues at NHS BSA. CCS have truly delivered a market leading commercial solution and have worked closely with our customers to ensure they could not be happier with the service and support we offer. We will continue the positive momentum and make the next award season even better.