Milliken, a leading global chemical and textile company, used to be stuck in the traditional and paper-based procurement and accounts payable status quo.
Not only was this time-consuming and labor-intensive for their team, but their inefficiencies strained supplier relationships as they lacked visibility into the process.
So, Milliken made the decision to automate their processes and offered their suppliers a best-in-class supplier financing and dynamic discounting program.
They increased eInvoicing, improved communication with suppliers, and provided them with real-time insight into their invoice and payment statuses.
What came next? Dramatic and tangible improvements, both across Milliken and among their thousands of suppliers. Milliken aligned sourcing with the strategic initiatives of the company, successfully empowered suppliers to be more self-sufficient, and offered early payments on all invoices to ensure that suppliers always had access to cash.
Not to mention the smooth and easy transition from their traditional processes, made possible by a painless internal positioning and supplier onboarding program.
To find out just how Milliken achieved its flexible supply chain finance solution, check out this webinar.