Dynamic Discounting Tag

Purchase to Pay can sometimes be a hard sell. In a highly siloed organization where purchasing and finance see themselves as different species, getting buy in to an end to end holistic approach to purchasing is virtually impossible. But without the holistic approach some serious stuff goes wrong. Below are to top 5 problems that occur when purchase to pay best practice is ignored.

Purchase to Pay, P2P and Dynamic DiscountingWhen Alexander Graham Bell, said "Watson, come here! I want to see you", little did he suspect that in the 21st century, less than 150 years after he began his experiments, the telephone would be so ubiquitous that even in parts of Africa where there is no running water, there would be full cell phone coverage. And at that time, in about 1873, the "CFO" was a man in a tall hat with a quill in his hand in charge of a team of accounts clerks laboriously scratching numbers into leather bound ledgers.

Purchase to Pay, P2P and Dynamic DiscountingI read with interest an item by Jean-Pierre Foehn (Opening the supplier can of worms: can you really charge suppliers a fee to do electronic transactions?) that expressed, not for the first time, some fairly frank questions about electronic invoicing and the justification for transaction fees. The questions he raises are not new but it is good to see them  brought out into the open.