Why Suppliers Choose to be Paid Early

March 14, 2013 Bhaji Illuminati

Sometimes its hard to believe that there is a solution that is truly beneficial to all parties involved.

early-watch

We're always talking about the buyer benefits of dynamic discounting (you save millions of dollars annually) but less commonly do we address the supplier benefits of dynamic discounting (they finally have visibility into the status of their invoices and have fast easy access to cash).

To oversimplify things, the top three reasons suppliers choose to opt-in to dynamic discounting are:

1) Faster access to cash
2) Less expensive source of capital
3) Reduction in collection costs
These are huge wins for your suppliers. They no longer need to rely on time consuming, expensive forms of financing and are eager to collaborate. Your suppliers already see the benefit in dynamic discounting, and they're eager to opt-in.

Dynamic discounting is a way to save millions while strengthening supplier relationships. It's a solution where you can pay your suppliers less and have them thank you. Like I said, beneficial to all parties involved. Well, maybe not the bank...
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