5 Reasons to Pay your Suppliers on Time | Enable

▤ Summary

A common reason for late supplier payments is inefficient internal processes, which can mean invoice dates are forgotten or simply missed. If your late payment has resulted in financial hardship for your supplier or annoyed them, they are less likely to accept your next order and it could end in a dispute which could not only harm your inventory but also your relationship. If a supplier is not paid instantly, it needs to find cash from somewhere in order to meet its costs and they must ensure that products aren’t going out faster than money coming in. With Enable, information contained around the deal is translated into digital data in real time which can be uploaded into any ERP or accounting system and all your contracts are in one centralized place so you can keep track of payment deadlines. With paperwork streamlined and accurate financial data at your fingertips, you will always have a clear picture of your deals and finance will be able to make supplier payments on time.

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