Comprehensive guide highlights early payment options and identifies the pros and cons for suppliers and customers
Atlanta, GA, April 5, 2017 (Newswire.com) - Supplier organizations often find themselves waiting 30, 60, 90 days or more to receive payment from their customers. As this trend continues, two questions remain; should suppliers take early payment on their invoices and is taking early payment worth it? To answer these and other questions, Receivable Savvy, the research and best practice resource for Order-to-Cash professionals, today published The Definitive Guide: Early Invoice Payment – The supplier’s guide to understanding early invoice payment options and how to leverage it for improved cash flow. The guide is available as a free download and highlights those early payment options available to suppliers in addition to identifying how it impacts both suppliers and customers. The guide also includes answers to the most frequently asked questions about early invoice payment and a provides a list of early payment solution providers to watch in 2017.
“Taking early payment on invoices is critically important to suppliers and is viewed as a strategic option by customers. It will continue to play a substantive role in commerce for the foreseeable future,” said Ernie Martin, Founder and Managing Director of Receivable Savvy. “Suppliers find themselves balancing between the philosophies of getting paid early and operating within their customers’ standard payment terms to reduce DSO, effectively maximize cash flow and improve working capital. Studies show that getting paid as quickly as possible is a sensitive topic for suppliers while customers, on the other hand, want to hold on to their cash as long as possible.”
"Suppliers find themselves balancing between the philosophies of getting paid early and operating within their customers' standard payment terms to reduce DSO, effectively maximize cash flow and improve working capital. Studies show that getting paid as quickly as possible is a sensitive topic for suppliers while customers, on the other hand, want to hold on to their cash as long as possible."
Ernie Martin, Founder and Managing Director
About Receivable Savvy
Receivable Savvy helps supplier organizations master the Accounts Receivable and Order-to-Cash process by maximizing revenue through proprietary research, best practice content and insight from subject matter experts.
Founded in 2015, the Receivable Savvy mission is to cultivate knowledge and understanding among suppliers while also delving into their habits, practices and preferences. Comprised of industry veterans, Receivable Savvy strives to be the primary source of financial supply chain information for Accounts Receivable professionals focused on key elements of the Order-to-Cash process.
Receivable Savvy helps its members understand issues around customer master data, order management, credit management, invoicing, accounts receivable, payment, collections management, invoice financing and cash application.
Source: Receivable Savvy