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Unlock Invoice Discounts
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Invoice discounts are one of the most significant benefits organizations can achieve from automating. A standard 2 percent discount for paying on day ten translates to an annual return of between 20 and 36 percent for that cash.
This issue features information to help your organization to capture more discounts, which ultimately hinges on your ability to quickly approve and pay invoices.
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| Patrick Harbin – Editor
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Capturing Discounts |
While paying invoices in time to capture invoice discounts sounds simple enough, there are a lot of challenges many organizations have to overcome.
See The Keys to Capturing Discounts on TAPC.
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Discounting Statistics |
Capturing discounts is a smart move in terms of cash management. But how common is it for vendors to actually offer discounts? Are most organizations able to take advantage of discounts? According to recent statistics published by The Accounts Payable Network:
- For 70 percent of organizations, just 1-10 percent of suppliers offer discounts
- Buyers in the manufacturing industry are the most likely to be offered discounts
- Just 32 percent of organizations actively pursue discounts from their suppliers
Despite the lucrative opportunity that discounts represent, they are not always available. Accounts payable departments need to be ready to capture them when offered. Sign up for TAPC's upcoming no-cost webinar, Right Sourcing – Automate AP: Reduce Costs, Improve Transparency & Increase Control, featuring David Hay, consultant, and Joe Crowley with 3i-Infotech. Earns 1 CEU.
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Just for Fun! |
As the wedding of Prince William and Kate Middleton approaches, the British monarchy may be poised to take a significant step into the 21st century. See Royal Wedding Sparks Debate on UK Succession.
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