When CFOs and Finance Executives look to further lower operating costs, standardizing financial processes easily makes the top ten on their priority list. As part of such an initiative, streamlining accounts payable (A/P) provides a great opportunity for lowering operating costs.
When upgrading A/P process, however, very often it is overlooked that A/P is a key function of the Buyer-Supplier relationship and as such can provide additional opportunities for lowering operating costs and improving the Buyer-Supplier relationship. Done right, it can even turn A/P into a profit center.
Taking a more holistic approach means considering the additional needs of the procurement function and also treasury function. While at first this may seem to complicate matters potentially, in reality it really doesn’t need to. In fact, it can be as simple as knowing and understanding the positive impact and tremendous opportunity early payment discounts alone can have on your working capital.
To learn more, come join Bertram Meyer, CEO of Taulia Inc., for a moderated discussion forum at the Financials 2011 conference on Wednesday, March 9, 2011 from 10:15 am – 10:45 am and learn how to offer and use dynamic discounts with your suppliers.
Or stop by the Taulia booth #235 to meet our subject matter experts and see demos of our dynamic discounting solutions.
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