October 04, 2017
Scfbriefing.com (UK/Global), “Faster invoice cycle times at the centre of payables strategy.”
With ever growing pressure to extend payment terms, it is at least theoretically easier to be able to pay suppliers on time. If terms are extended from, say, 30 days to 60 days, the buyer has an extra month in which to match invoices, sort out payment files and push the button to get cash into suppliers’ bank accounts. Longer payment terms, therefore, can hide a multitude of sins within the payables function. Including insights from The Hackett Group’s Nic Walden.