Leverage AI to Optimize Payment Terms and Working Capital
- Alfonso Ricotta, Global Finance Change Management Lead at Indeed
- Danny Thompson, SVP, Market & Product Strategy at apexanalytix
It’s one thing to negotiate favorable payment terms. It’s another to enforce them.
Our research has shown that 25.73% vendor invoice terms are better for the supplier than the original negotiated terms. The procurement team spent a lot of time getting the best terms possible and guess what? The supplier submits an invoice with different terms and is paid based on those terms.
These inaccurate terms negatively impact working capital by 6.3 days. For large companies, this equates tens of millions of dollars that could be invested in R&D, M&A or other opportunities for growth.
This session will highlight the detailed process of how every current supplier can be assessed against previously negotiated terms and, more importantly, what today’s market terms should be to identify opportunities for extensions, baseline date changes, or payment schedule changes.
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