Like many readers, I have met many suppliers who struggle to manage cash flow. And I’ve met companies that rely on third party finance solutions to fill the gap. They all have one thing in common – they are not happy people. I would challenge you to produce a photograph of an AR team with smiles on their face – without using Photoshop!
It’s not a laughing matter really. We mentioned earlier this week the report that named and shamed those UK businesses that have extended their payment terms to an astonishing 200 days. No wonder suppliers are stressed. Unless they have the whip hand, suppliers are constantly being squeezed. If it’s not for lower prices its for extended payment terms – which is why I was absolutely delighted to see this video produced by Taulia.
In the purchasing and accounts payable world, we don’t get to see the suppliers’ perspective often and this is a breath of fresh air.
So what do you call an accounts receivable manager with a smile on their face?
Answers in the comments box.