Corporate executives are sharpening their focus on operational, back office efficiencies as a source of savings and liquidity. One are that has been a major focus of this effort: the Accounts Payable process.
The latest generation of business banking and payments technologies offers forward-thinking businesses the unprecedented ability to collectpayments in less time, with less effort and without a great deal of your attention.
In your business, every time someone physically handles a check or cash, it increases the opportunity for fraud. To mitigate this risk, consider collecting money electronically — a safer, cheaper, faster and easier way to collect.
There are merits to "collect early and pay late", but when it comes to payables and receivables, optimization is a far better pursuit. This means not only paying later, but also paying earlier when that is more profitable.