84% OF FINANCE PROFESSIONALS CONSIDER INVOICE DISCOUNTS IMPORTANT, ONLY 25% CONSISTENTLY USE THEM
Taulia Inc., the only SAP®-certified SaaS platform for Dynamic Discounting and e-invoicing, today announced it was featured in the PayStream Advisors report, Dynamic Discount Management: Finding the Treasure in Treasury. The report polled finance and Accounts Payable (AP) professionals concerning optimizing the financial supply chain and capturing discounts from suppliers. The study found that 84 percent of AP professionals rank the ability to capture discounts as important, or a priority. However, only a quarter of companies do so consistently.
According to the report, the top reasons supplier discounts go unrealized are: 1) the manual routing of invoices, 2) lengthy approval cycles, and 3) de-centralized invoice receipt. Taulia’s Dynamic Payment Platform was featured in the report as a solution for companies who wish to capture potential discount savings from suppliers.
“The PayStream Advisors Report validates that dynamic discounting is a business-critical need in today’s economic conditions,” said Bertram Meyer, CEO of Taulia. “However, many solutions put the financial burden on suppliers by charging them to be part of the buyer’s online invoicing and payment solution in addition to asking them to take discounts on their invoices. Taulia balances the needs of buyers and suppliers by giving them both an easy way to process invoices and payments, free of charge to suppliers, while companies can save millions of dollars in captured discounts. We put the trust and ease back into the buyer/supplier relationship.”
Taulia’s Vendor Portal gives companies a cloud-based solution for capturing invoices electronically and centralizing the invoicing and approval process for faster approval review and approval cycles. Suppliers can view when the invoice is scheduled to be paid and have the opportunity to accelerate payment on-demand, eliminating the need for costly receivable financing or credit card borrowing. In return, the buyers can receive discounts on the supplier invoice for early payment, allowing them to save millions of dollars annually using dynamic payment terms for their suppliers. The supplier portal also reduces collection costs and removes the need for inquiries by providing 24/7 visibility and comprehensive self-services, all free of charge.
“Large companies are constantly seeking opportunities to improve returns on short term investments, while small businesses need to improve cash-flow without expensive factoring or financing solutions,” said Henry Ijams, managing director of PayStream Advisors. “As Dynamic Discounting grows to bridge the gap in the financial supply chain between large buyers and their suppliers, Taulia is emerging as one of the top companies to watch in this market. That is why we included them in our current report as one of the leading Dynamic Discounting solutions.”
For more information on the PayStream Advisors report on Dynamic Discount Management or to order a copy, visit http://www.paystreamadvisors.com.