Editor's Note: This piece was reprinted with permission of Ernie Martin, founder and managing director of Receivable Savvy. The company is dedicated to cultivating knowledge and understanding among suppliers in relation to Order-to-Cash processes while also delving into what they do, how they do it and most importantly—why they do it. You can follow this blog and others here.
It's time to take a closer look at a variety of early payment options that supplier organizations can use to expedite the payment of outstanding invoices. There are multiple early payment options to choose from in the form of Dynamic Discounting, factoring, P-cards, static or flexible terms, and more.
Early payment may also be initiated by the buying organization, the supplier organization or third-party solution providers. We investigated Dynamic Discounting late last year.
Here, we'll look at Supply Chain Finance, how it works, how it might benefit the supplier as well as the buyer and identify some of the key providers in the market.
Although Supply Chain Finance is sometimes used interchangeably to describe a variety of early payment solutions, we’ll identify and describe the widely accepted term for the purposes of this piece.
Read the story here.