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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.
There are several factors driving invoice financing strategies. These factors may include improved technology, availability of newer forms of funding, more complex global supply chains, and the challenge of obtaining commercial financing from traditional sources, largely due to the 2007-2009 economic downturn.
These factors have provided both the incentive and the opportunity for improved supplier payment mechanisms. These days, customers want to hold on to their cash longer, leading some to extend payment terms to 60, 90 or 120 days.
The upcoming Receivable Savvy "2017 Perceptions Study" indicates that only 19 percent of respondents are very familiar with different forms of early invoice payment options available to their organization.
With that in mind, we’ve published "The Definitive Guide – Early Invoice Payment: The Supplier’s Guide to Understanding Early Invoice Payment Options and How to Leverage it for Improved Cash Flow." This free eBook outlines, in detail, various early invoice payment options available to supplier organizations, different solutions providers that facilitate early payment and the most common questions supplier organizations ask regarding early invoice payment.
Following, Receivable Savvy's Ernie Martin examines two questions taken directly from the eBook as well as an overview of a solution provider highlighted in the document covering exactly what they offer to supplier organizations.
Read the story HERE.