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Late payment’s in the news

...and the government is set to get even tougher with the late payers

By Guest Contributor, Caroline Wigley - Documation

Late payment and the issues it causes are in the news. In fact rarely a day goes by without some mention of the scale of the problem – the devastating consequences for businesses owed money, the negative effect on the economy as a whole, and the increasingly severe measures proposed to stop the practice.

Stop paying suppliers late and offer them choice

Wednesday 28th January, 2015

As Diageo becomes the latest corporate giant to hit the spotlight for all the wrong reasons, one of the fundamental business tensions between buyers and suppliers has once again come to the fore – when can payment for goods received reasonably be expected? A buyer buys from a supplier, supplier gets paid is the foundation of any business. But what happens when the balance of power sits so definitively with the buyer? In an ethical operation, that balance shouldn’t matter – the transaction should fulfil the obligations outlined in the (no doubt much negotiated) contract.

Premier Foods not so exceeding tempting offer…

Monday 8th December, 2014

With such cosy household names as Mr Kipling, Branson, Bisto and Ambrosia under its label, it’s easy to think of Premier Foods as a manufacturer at the top of their game. And of course, with 99% of all UK households buying a Premier product this year, in many ways they are. But struggling under a mountain of debt, the Board probably thought that it had come up with an excellent, profit-boosting scheme with the so called “Pay to Stay” supplier programme. And over the last 18 months, it’s one which has netted the firm millions of pounds.

New P2P World Requires New Skill Sets At PepsiCo

Friday 7th November, 2014

If you think about PepsiCo at all, you’d probably think of that fizzy drink which isn’t Coke, and yet the PepsiCo brand covers a multitude of household names – like Quaker Oats, Tropicana and Doritos, with a team of over 5,000 in the UK,  spread over 13 sites. And by 2010, the end result of this expansion as far as the purchase to pay process was concerned, was one which was disjointed and lacked overall visibility.

Avoiding the e-invoicing toxic mix

Monday 13th October, 2014

This time last week Barcelona was playing host to the great and the good of the einvoicing world at the Exchange Summit. Although this was the first Exchange Summit, the event is actually the natural successor to the well-established EXPP conference. Picking up where EXPP left off, the Exchange Summit aims to take the einvoicing topic and broaden it to cover the increasingly related issues – such as supply chain finance for example, and the growth and importance of networks. Joannes von Mulert’s event has big ambitions, and next year’s conference, at the moment scheduled for Frankfurt, is expected to take a deeper look at some of the issues touched on last week.

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