Solve today’s procurement puzzle: save money by spending more
Thursday June 24, 2021 2:00 p.m.
Bob Trebilcock, Editorial Director
Mark Trowbridge, CPSM, CPM, MCIPS, Director, Strategic Procurement Solutions, LLC
We all want to keep working capital by extending payments. But sometimes it pays – literally – to pay your suppliers on favorable terms.
Conventional wisdom is that the longer you can extend payment terms to your vendors, the better your cash flow. But, sometimes conventional wisdom is wrong. New non-bank payment instruments such as virtual card payments can revolutionize the way we pay our suppliers and achieve discounts that impact the bottom line. Sometimes you can save money while spending more.
In this special webcast, Mark Trowbridge, a director of Strategic Sourcing Solutions LLC and a frequent contributor to Supply Chain Management Review, will introduce attendees to five innovative ways to capture the benefits of cash management that improve business liquidity and reduce overall costs. Topics will include:
The investigative work required to strategically leverage the payment schedule and processes …
- How to earn discounts on B2B “like retail” transactions …
- How to use virtual card payments, or vCards, a new innovative payment technology …
- How to assess which discounts on payment terms are actually captured and take the necessary measures to ensure capture …
- And how to take advantage of the supplier payment schedule to keep cash at the optimum time, steer suppliers towards vCard settlement processes and non-participating suppliers towards reduced payment terms.
This event is aimed at all procurement professionals wishing to optimize their supplier payment terms.
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