If you were fortunate enough to attend the Sharedserviceslink Dynamic Discounting and Supply Chain Finance Summit I chaired in February, you would have experienced two days of high quality discussions with senior Finance, Treasury and Procurement professionals. However, if you couldn’t be there, here are some of the the key takeaways from the event.
As a part of his Year of Action, the President is using the power of his pen and phone wherever he can on behalf of the American people to create jobs and help hard-working Americans get ahead. Today, the President will announce the creation of SupplierPay, a new partnership with the private sector to strengthen small businesses by increasing their working capital, so they can grow their businesses and hire more workers.
Much of AP’s attention rightly focuses on efficiency and compliance. But AP is discovering how working capital initiatives can yield as much as as 10 times more value. With the advent of Early Pay Programs (EPP) and supplier financing, Accounts Payable has a new mandate – Get Profitable! More than ever, AP organizations are turning to Early Payment Programs using best practices that transform their terms and turn AP into a profit center in as little as 100 days.
Procter & Gamble Co. PG +1.02% is planning to add weeks to the amount of time it takes to pay its suppliers, a shift that could free up as much as $2 billion in cash for the consumer products giant, people familiar with the matter said….