Turn your payables into profit center
When it comes to working capital optimization, however, increasing payables should be a core strategy. To be sure, many businesses work this strategy by extending payables as long as possible, to maximize free cash flow. Unfortunately, this is NOT the right approach. Delaying your payment without informing can erode supplier relationship, resulting in slower–or non–delivery times, less willingness to fix defects, slower responses to queries, overall resulting in slower service levels and less revenue. On the flip side, paying early can yield substantial benefits in situations where suppliers offer discounts or rebates or early payment programs. TBXONE’s order-to-pay (OTP) process is designed to streamline your payables department within all company compliances on paying the customer as agreed.
TBXONE OTP releases the pressure and time of company payable validation processes. We engineer your 3-way payables matching through a collaborative process with your suppliers, the receivers, and the procurers. TBXONE provides work flow to settle quantity and price by routing to the payables department, which does final posting to pay the invoices within payment terms. The benefits are decreased time in the payables process, while suppliers have visibility in the validation process.
TBXONE provides control points where suppliers can follow their invoice-issuing process. More benefits arise by accelerating payments–by giving your suppliers early payment options; your credit limit decreases while your sales and thus revenue increases. You can quickly use the following early programs on TBXONE: flexible dynamic cash discounting, Komodo Cash, and TBX FSCM. The OTP process app is FREE to use on TBXONE. To start benefiting your business, register on or login to TBXONE.