Newmark partners with Mesa to meet supplier retention goals with new Fortune 500 IFM client
Newmark engaged Mesa to power Early Pay to ease supplier concerns around pay term extension.
The requirements:
- 01Help retain existing suppliers in transition, even with client pay term extension
- 02Integrate with existing technology, no change to invoice submission process
- 03Program must be live within weeks to align with new client onboarding
Partnering with Newmark's team, Mesa was able to quickly ingest invoice data and run transactions in a sandbox test environment, and ensure that there would be no interruption or adjustment with the existing invoice-to-pay workflow.
In parallel, Mesa worked with Newmark's procurement team to introduce Early Pay to suppliers and service providers.
Mesa team members took the lead on supplier engagement and enrollment, with no resource allocation required on the part of Newmark. With expertise in IFM supplier procurement and payments, Mesa can acts as a trusted extension of your team.
While bank-agnostic, Mesa has deep capital markets relationships and brought its own source of funding, which meant this program would introduce no negative impact to Newmark's balance sheet or changes to financial reporting.
“Working with Mesa and its team to offer Early Pay to our vendors has been incredibly valuable. Standing up Mesa took weeks, not months. The flexible approach via file exchange is straightforward, and we haven’t had any issues with voids or duplicates that are paid early.
Offering Mesa helped us meet our transition goals of retaining vendors by providing them options for payment timing, especially when onboarding new clients that are extending their terms across their vendor base.
We were able to meet those vendor retention goals and continue to work with small and diverse owned businesses because of Mesa and their Early Pay solution.”
Designed for long term partnerships
As a core part of an ongoing partnership, Mesa continues to own Newmark supplier enrollment, providing all program and supplier support, and sharing useful program data back to Newmark.
With expertise in supply chain, embedded payments, and invoice financing, we designed and built our Early Pay platform to better serve both payers and suppliers across all service categories.
“Mesa's partnership has exceeded our expectations. Their team truly takes ownership for success in our deployed Mesa Early Pay programs which enable our teams to create more diverse and agile vendor bases for clients.”
