Many businesses find it challenging to maintain good supplier relations while holding on to cash and increasing their DPO.
With both parties looking to optimise working capital, an inevitable conflict of interest arises. The Prompt Payment Code (PPC), administered by the Chartered Institute of Credit Management, has improved dialogue between buyers and suppliers by introducing payments best practice in the UK, including fast settlement of invoices and better contract terms.
Working Capital Solutions has been developed by American Express, allowing businesses to extend their DPO by leveraging their billing cycle. Businesses can strengthen ties with their suppliers and free up cash to drive business growth, all without increasing their debt load.
Find out more by downloading this resource.