Against the backdrop of the current economic crisis, finance executives are concerned
about their short-and mid-term financing, as well as their ability to manage risk and
execute business strategies. These executives have intensified their focus on working
capital, especially improving cash positions. The age-old adage – cash is king- has never
been truer.
The typical Accounts Payable department is uniquely positioned to support a businesses’
cash management objectives, including
- Extending Days Payable Outstanding (DPO)
- Capturing early payment and volume discounts while avoiding late payment fees
- Providing support to ensure order and payments are compliant to contracts
- Assist suppliers to business, especially those SME’s which typically have half their working capital tied up in debtors, in obtaining early payment against their deliveries
Octet provides the solution to all four of these objectives