The accounts payable department is the heart and soul of a business. The importance of AP is exactly what makes it the prime target of fraudulent actions. This fraud can come from various areas, inside the business and outside the business, unintentional or...
An early bird gets all the worms. In this case, an early buyer gets all the discounts. Discounts are a ray of hope to small and medium businesses, which let them compete with the large companies in the market. Early payment or dynamic discounting is a good way to make...
Running a business is an extremely challenging task. You need to manage a lot of different stakeholders, and you have to keep track of all the different vendors who work with you. Without the right tools and technology, it can be nearly impossible to manage everything...
Making your business’ vendor management a well-structured process has various advantages. After all, to manage a certain business, you need various plans to see through to every little action. If you are a vendor manager, you know how tough it can be to bring vendors...
If you are a business owner, your role likely includes managing the company’s finances. Whether you have a team of accountants and bookkeepers or if you do the work yourself, there are several aspects of this process that can be quite tricky. One important area...
If used properly, dynamic discounting can help businesses improve cash flow and establish beneficial relationships with their suppliers. A portion of vendors would have a higher demand for cash and could be more prepared to offer a concession in exchange for...