Dynamic Discounting Receivables Exchange

Onboarding Suppliers

Note

  • Only a platform admin can onboard the suppliers.

  • A checker approval is needed to successfully onboard the suppliers.

Introduction

This guide provides a step-by-step process designed for platform administrators to seamlessly integrate new suppliers into the DDRX platform. The process requires a checker's approval, ensuring that all information is verified and accurate. By following these instructions, admins will be able to navigate through the DDRX platform's interface, from the initial login to the successful addition of suppliers.

How To Access On DDRX Platform

Platform Panel -> Suppliers -> Add New

Steps to onboard the suppliers in DDRX platform

  1. Log in to DDRX platform.

  2. Go to Add New option under Suppliers section.

  3. Click Upload Suppliers.

  4. Select Buyer Name from the dropdown menu.

  5. Download the sample file.

Note

Skip to step 5 if you already have the sample file.

  1. Fill in the details of suppliers in the file.

  • Vendor_Code (Required) - Enter a unique identifier for each supplier. This code will be used to reference the supplier within the DDRX platform.

  • Vendor_Name (Required) - Enter the legal name of the supplier company.

  • Authorised_Person_Email (Required) - Provide the email address of a designated contact person authorized to represent the supplier on the DDRX platform.

  • Vendor_PAN (Required) - Enter the supplier company's Permanent Account Number (PAN).

  • Vendor_GSTIN_NUM - Provide the supplier company's Goods and Service Tax Identification Number (GSTIN).

  • Authorised_Person_Phone_num - Enter the phone number of the authorized contact person.

  • Vendor_phone_num - Enter the supplier company's main phone number (if different from the authorized person's number).

  • Authorised_Person_Name - Enter the full name of the authorized contact person.

  • Vendor_account_number - Provide the supplier's bank account number.

  • Vendor_bank_IFSC_code - Enter the Indian Financial System Code (IFSC) of the supplier's bank account.

  • Vendor_bank_name - Enter the name of the supplier's bank.

  • Vendor_bank_branch_name - Specify the branch name of the supplier's bank.

  • Vendor_Address - Enter the supplier company's registered address.

  • Vendor_Address2 - Include a secondary address line for the supplier company (if any).

  • Vendor_City - Specify the city where the supplier is located.

  • Vendor_Pincode - Enter the postal code (PIN) for the supplier's location.

  • Vendor_State - Indicate the state where the supplier is registered.

  • Vendor_Country - Specify the country where the supplier is located.

  • Vendor_CIN - Enter the supplier's Company Identification Number (CIN).

  • Entity_Type - Enter the type of business entity the supplier represents. For example, Sole Proprietorship, Partnership, and so on.

  • Vendor_tds_section - Enter the relevant Tax Deducted at Source (TDS) section applicable to the supplier.

  • vendor_tds_rate - Enter the TDS rate to be applied to the supplier's transactions.

  • Limit_Node -

  • Branch_Code -

  1. Save the file in your system.

  2. Click Browse to select a file.

  3. Click Upload Details.

  4. Click OK. After clicking this button, the supplier list is sent to a checker for review, validation, and approval. Once approved, the suppliers are onboarded onto the DDRX platform and triggered with the onboarding email.

Manage Discount Rates

Use this section to add or update the discount rates for the supplier.

Note

  • Only a platform admin can add or update the discount rates.

  • It does not require maker-checker approval.

How To Access On DDRX Platform

Platform Panel -> Suppliers -> Manage Rates

Adding Discount Rate for Single Supplier

  1. Type the name of the buyer into the search box and press Enter to manage the invoice discount rates for its suppliers.

  2. Click View Supplier.

  3. Click View/Edit option present against the desired supplier whose discount rates you want to add.

  4. Click Edit.

  5. Add the details as below:

  • Relationship Manager - Choose the name of representative assigned as the primary point of contact for the supplier from the dropdown.

  • Bid Preference - Choose between automatic participation in invoice discounting or manual selection for each invoice. In the MANUAL option, discount suggestions are provided to the supplier during invoice bidding.

    • Min. Days and Min. Discount % - Enter the minimum discount percentage applicable for the minimum number of acceleration days.

    • Max. Days and Max. Discount % - Enter the maximum discount percentage applicable for the maximum number of acceleration days.

Note

The entered discount percentage is annual.

  • Cash Discount - Enter the upfront discount percentage offered by a supplier to their buyer.

  • Haircut Percentage (Post Invoice) - Enter the percentage reduction in the invoice value. For example, if you apply a 10% haircut to a ₹1,000 invoice, the revised invoice amount would be ₹900.

Understanding Cash Discount and Haircut

An invoice file is uploaded with the invoice amount as ₹1,000, supposing the invoice belongs to Mathur Textiles Ltd. (supplier) and cash discount for Mathur Textiles Ltd. is 2%, the invoice amount to be considered should be ₹980. Please note, cash discount is not same as haircut. Haircut if applicable will be applied separately on ₹980.

  • Signup Required For Funding - Choose whether the supplier needs to complete their onboarding journey on the platform to access financing options.

  • LEI No. - Enter the Legal Entity Identifier (LEI) number of the supplier, if applicable.

  • Loan Account Number -

  • Vendor Limit Node - Enter the unique code from the limit file submitted by the bank for suppliers. This file assigns unique funding limits to each supplier.

  • Vendor Branch Code - Enter the branch code of the supplier.

  • Rate Renewal Type - Choose whether to automatically renew the configured discount rates.

  • Auto Bid Rate Type - Select the method for determining automatic bids for the supplier's invoices on the platform.

    • CUSTOM - Manually configure the discount rate(s) by providing a validity period for each rate.

    • SAME_AS_BANK - The discount rate(s) are based on the bank(s) mapped with the buyer. Additionally, specify the additional discount rate under Spread Rate.

  • Rate Acceptance Required (Through OTP) - Choose whether OTP-based verification is required for the supplier to accept added or updated discount rates on the platform.

  • Invoice Acceptance Type - Choose how invoices are submitted for invoice discounting:

    • FULL_TURNOVER - Automatically submits all invoices uploaded by the supplier for early payment through invoice discounting.

    • REQUESTED_BY_VENDOR - Allows the supplier to manually select invoices for early payment through invoice discounting.

  • Invoice Soft Copy Mandatory - Choose whether to require the supplier to upload the soft copy of invoices.

Note

This field is editable if Invoice Upload By Vendor is activated in the Buyers -> Configuration section for the buyer associated with this supplier.

  • Approve invoices Uploaded by Vendor - Choose whether to require approval from the buyer for the invoices uploaded by the supplier.

Note

This field is editable if Invoice Upload By Vendor is activated in the Buyers -> Configuration section for the buyer associated with this supplier.

  • Rate Change Notification - Choose whether the supplier receives notifications about changes in discount rates offered for their invoices.

  • Rate Acceptance Type - Select how the supplier accepts the added or updated discount rates in the platform: either through email or a platform login. If email is chosen, specify the validity duration of the email under Rate Acceptance Email Validity (in hours).

  • Vendor Financing Program - Select the preferred supplier financing program. In Gross Pay, the supplier receives the full invoice amount upfront, while in Net Pay, the supplier receives based on a discounted invoice value, resulting in potential savings for the buyer.

  1. Click Update. Upon clicking this button, the configurations get saved successfully.

  2. Click Edit. Upon clicking this button, you can add the fixed discount rates and bank configurations.

Post-Invoice Fixed Rate

Note

This tab is visible only when Bid Preference is set to AUTO and Auto Bid Rate Type is set to CUSTOM.

  1. Choose the date from which the post-invoice fixed rate should be applicable.

  2. Enter the number of days for which the rate should be valid.

  3. Enter the discount rate.

  4. Choose whether the discount rate is annual or flat.

    • ANNUAL - The discount rate is expressed as a yearly percentage. For example, if the invoice amount is ₹1000 with a due date of Jun 08, 2024, and the acceleration is 30 days, making the payment date May 08, 2024. With a discount rate of 12%, the discount amount is ₹120 annually, ₹10 per month, and ₹0.33 per day. Hence, the actual discount is computed as [discount amount per day × acceleration days], resulting in ₹6.6 on the ₹1000 invoice.

    • FLAT - The discount rate is a one-time, fixed amount applied to the invoice value, irrespective of the acceleration days.

  5. Click Add. Upon clicking this button, the discount rate gets added in the list. Repeat the steps 1 to 5 if you want to add more discount rates for the supplier.

  6. Click Save.

  7. Click Confirm. Upon clicking this button, the post-invoice fixed rate configuration gets saved.

Bank Config

  1. Select Financier Bank from the dropdown.

Note

The dropdown displays banks mapped with the buyer.

  1. Select Discount Rate Type as either SAME_AS_BANK or CUSTOM.

  2. Enter a unique identifier provided by the bank for the supplier.

  3. Enter the percentage of the invoice to be financed by the selected bank.

  4. Choose whether the Discounting Program Type is FRONTEND or REAREND.

Note

If you select Discount Rate Type as CUSTOM, you can set up the bank interest rate and penal interest rate for the supplier.

  1. Click Add. Upon clicking this button, the bank configuration gets added in the list. Repeat the steps 1 to 5 if you want to add more bank configurations for the supplier.

  2. Click Save.

  3. Click Confirm. Upon clicking this button, the bank configuration gets saved.

Adding Discount Rate for Bulk Suppliers

  1. Fill in the details like Supplier Code, Financier Bank, Bank Code, and Financier Vendor Code in the bulk vendor update file.

  2. Save the file in your system.

  3. Click Bulk Vendor Update.

  4. Click Browse to upload the saved file.

  5. Click Submit. Upon clicking this button, the details get submitted in the platform.

  6. Click Okay.

  7. Enter the configurations for suppliers, such as Bid Preference, Signup Required For Funding, Auto Bid Rate Type, Spread Rate, Rate Acceptance Required (Through OTP), and Invoice Acceptance Type.

  8. Click Save. Upon clicking this button, the configurations get saved.

  9. Click Edit to add bank configurations for the bulk suppliers.

  10. Select Discount Rate Type and Discount Program Type from the dropdown.

  11. Click Add. Upon clicking this button, the discount rate gets added in the list. Repeat the step 9 if you want to add more bank configurations for the suppliers.

  12. Click Save.

  13. Click Confirm. Upon clicking this button, the bank configuration gets saved.

Send Invite to Supplier

Click Invite now to send an invitation to the supplier if they have not received the onboarding invite from the platform.

Vendor SLA

Update Existing SLA

Note

You cannot update the SLA once it is accepted by the supplier during onboarding.

Here's how to update an existing SLA:

  1. Click View.

  2. Click Edit.

  3. Update the content of the SLA.

  4. Click Save. Upon clicking this button, the SLA is successfully saved.

Download SLA

Click Download to store a copy of the SLA on your system.

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