Purchase to Pay will help businesses out of recession
Purchase to Pay solutions will help drag businesses out of recession
The news that OB10 have reported growth despite the global recession should not come as a surprise.
The economic downturn was a massive blow to many industries – far worse than they’d care to admit in some cases. Projects were cancelled, investments put on hold, contingent staff ditched to minimise the job the permanent job losses that were unavoidable in order to cut cost. But successful business in the 21stcentury is already running lean, finding further sources of efficiency without contracting your business is becoming harder and harder. Which is why the OB10 and e-invoicing proposition is getting a listening ear in the board room.
Purchase to pay people have been banging on about this for years. Supply Chain Management doesn’t stop at the receipt of goods – there’s payment terms to be managed, invoice disputes to be resolved and payments to be made. The financial supply chain is a key area to derive further efficiencies from any business and the more enlightened early adopters are going to emerge from the recession sooner than the laggards
(See: What is Purchase to Pay?)