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What you're leaving on the table by not pursuing early pay discounts!
What is your annual PO Spend?
Based on a multi-year study of nearly 400 AP departments, IOFM found that best practice organizations typically:
* This is a conservative calculation. Anecdotal research conducted in the first half of 2020 finds that vendors are increasingly offering higher discounts of as much as 5%-7% while cash remains tight during the COVID-19 pandemic. Depending upon conditions and when in the year the discount was captured, the total savings could be even higher! (For example, a 2% discount on Net 10 would be the equivalent of a 36.7% annual rate of return.)
What are you waiting for?