It's time for organisations to step up their game - suppliers shouldn't have to and can't afford to be paid late time and time again. Why? Because when suppliers struggle with cash flow, so does the entire supply chain. But sometimes late payments are harder to get a handle on than you might think. Inefficient payables processes, including paper invoices, manual processes, increased errors and exceptions, and general lack of visibility across procure-to-pay (P2P) all cause slow payments.
But there are ways to accelerate payments, such as:
electronic invoice receiving
Accounts Payable (AP) automation
Artificial Intelligence (AI) and Machine Learning (ML)
And enabling a remote workforce.
Learn how greatly these tools increase payment times and keep supply chains healthy and happy in our infographic.