In our view, the vast majority of domestic companies should outsource significant parts of the supplier onboarding and enablement program to partners, just as they outsource payroll. Said in a less technical way: Don’t be foolish and do this internally, at least not within a corporate or business unit setting. There are technical and non-technical reasons not to tackle the challenge yourself. Process nuances also factor into why partners are critical.
Regardless if the US government's SupplierPay initiative is successful or not, many Global 2000 corporations have developed a menu of early pay solutions. Buy-side techniques are centered around payable finance methods. Purchase-to-pay, e-procurement, e-invoicing and supplier network propositions are becoming more established together with early pay finance techniques. Large global corporations that use these networks to manage suppliers will enable their suppliers to receive early payment.