Financial Supply Chain Management
07 Jun Holistic Purchase to Pay
Posted at 14:29h
in e-Procurement, Electronic Invoicing, Financial Supply Chain Management, Purchase to Pay, Purchase to Pay Process
It doesn’t take a mathematical genius to understand the business case for some purchase to pay initiatives. Dynamic discounting - exchanging a discount in return for early payment - can give a return on capital of over 30%. Reverse factoring and other supply chain finance methods can substantially increase DPO and AP automation can reduce costs by 50%. But despite the compelling business case, most organisations remain firmly in the 20th century when it comes to purchase to pay optimisation. If the benefits are so great, why are more businesses not grasping the opportunity?
05 Jun Is it the end of the road for the purchasing card?
The purchasing card is a great business tool. It empowers people to make purchases without the need for a complex and often expensive purchasing process. When a low value item costs less than the cost of the purchasing process itself, it makes sense to cut through the purchase to pay red tape. But the purchasing card is beginning to show it age. It hasn't really kept up with technological change surrounding it. The merchant fees are excessive, in a low interest rate economy the business case makes no sense and as far as reporting goes, purchasing cards have been trumped by electronic invoicing. Is it the end of the road for the purchasing card?24 May Taulia joins Purchasing Insight as a sponsor
Supply chain finance generally and dynamic discounting in particular has been has been featured quite heavily in Purchasing Insight. It's not an entirely new concept but in the last year or so it has gained a great deal of traction as a means of getting a real and significant commercial return by being clever with the way invoices are settled and this week, Purchasing Insight is delighted to welcome Taulia, the leading dynamic discounting solution provider, as its first sponsor.22 May Accounts payable – shocking waste revealed by new research
Posted at 16:49h
in Dynamic Discounting, e-invoicing, Electronic Invoicing, Financial Supply Chain Management, Intelligent Data Capture
We all know that manual processes are inefficient. We all know that the use of paper based business processes is increasingly becoming an anachronism in the 21st century and we all know that AP automation is a good idea. But have you ever stopped to consider how much money is being wasted by not taking action?