We dug up this interesting post from Andrew Jesse (Vice President Basware in London). He focusses on the fact that late payments can pose a serious risk to a small supplier’s financial health, given that they have less of a financial ‘buffer’ than their larger counterparts. So, it’s unsurprising that extended payment policies are putting pressure on buyer-supplier relationships.
The combination of e-invoicing and new e-payment solutions like Basware and VISA helps solve these extended payments and supplier cash flow issues.
The promise of e-invoicing, e-payment and financial supply chain
E-invoicing, e-payment and financial supply chain not only give suppliers quick access to payments, but it also provides buyers and suppliers with the cash flow needed to ensure their businesses can operate smoothly. With cash flowing more freely across the supply chain, buyers and suppliers can focus on what matters most: building their businesses and furthering their relationship in mutually beneficial ways.
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