5 Reasons to Pay your Suppliers on Time
Delayed supplier payments continue to plague the supply chain, particularly smaller players. Unfortunately, the global pandemic has only worsened this pain point. According to WSJ, large U.S. companies took around 58 days on average to pay suppliers in the first quarter of 2021. That’s a 5.5 percent increase from 55 days last year. A common reason for late supplier payments is inefficient internal processes, which can mean invoice dates are forgotten or simply missed. In fact, ACAPP survey...Discover the impact of timely payments on supplier relationships. Learn 5 reasons why paying your suppliers on time is crucial for rebate success.
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Delayed supplier payments continue to plague the supply chain, particularly smaller players. Unfortunately, the global pandemic has only worsened this pain point. According to WSJ, large U.S. companies took around 58 days on average to pay suppliers in the first quarter of 2021. That’s a 5.5 percent increase from 55 days last year. A common reason for late supplier payments is inefficient internal processes, which can mean invoice dates are forgotten or simply missed. In fact, ACAPP survey...Discover the impact of timely payments on supplier relationships. Learn 5 reasons why paying your suppliers on time is crucial for rebate success.
