Some newsagency marketing / franchise groups operate central billing. The thing is, none of these central billing programs are the same. I can only speak for the newsXpress program as I am a direct or of that business.
Before I get into it though, while newsXpress is a private company, it has never distributed a profit to shareholders. Earnings are retailed and reinvested for members, like the $350,000 a year in seasonal in-store prized pack promotions and our soon to launch June national media campaign.
newsXpress created its central billing program in response to supplier requests. They were tired of late payment and failed payment.
newsXpress guarantees payments to suppliers, on time. Suppliers love this. They can bank on the results.
This unique approach by newsXpress to central billing is one reason the group offers so many suppliers who are not traditional suppliers to our channel.
Supplier businesses are businesses. Late payment costs money. Collection costs money. Being paid late damages the relationship.
I did not know this Mark. So you are saying that if a Newsxpress shop goes broke the supplier is still paid?
Yes, central billing suppliers are paid in this situation. It is core to the newsXpress central billing commitment. My understanding is that it’s a differentiator for us, that and suppliers being paid on time always.
Now I do want to note that a newsXpress business going broke is extremely rare.
A. Supplier – if you want to know more please email help@newsxpress.com.au. I get why you’d want to be anonymous here. If you email the crew they will maintain your confidentiality.