Transformation is happening across virtually every industry and business. Nowhere is this felt more acutely than in the supply chain – where boardroom vision meets reality and the strength of many supplier relationships are put to the test.
Today’s procurement professionals find themselves on the front lines of this change. As they quarterback strategic initiatives that will enable the business to compete and grow, they’re also protective of the strong value-based partnerships they’ve worked hard to develop with suppliers. It’s no surprise that many teams approach any finance-focused supplier program with caution.
In this PrimeRevenue Perspective, we discuss how supply chain finance – when executed with the right partner, tools, and procurement training and support – can deliver as much benefit to the supplier as it does to the company initiating the program. Examples include:
- Improved cash flow that helps suppliers fund their own strategic business initiatives
- Lower-cost liquidity compared to commercial lending
- Better visibility into invoice approval and payment
- More transparency in times of change