50 Shades of Pay: Shade 6 – Working Capital Optimization Using Spend Analysis and Payment Clocks [Plus+]


In the last installment of our 50 Shades series, we discussed the importance and value of mining the transactions that disburse cash to suppliers. We also discussed the “perfect invoice” to support the frequently used metric of the “perfect order” (i.e., right product in right quantity at right quality levels at right place and time – with the right invoice information), and how the transactional analysis part of spend analysis can help analyze this. But, what makes an order perfect? From a payments standpoint, is it just paying on time with accurate information? What about the ability to improve working capital and/or lend money to your suppliers in the form of early pay discounts (and/or supply chain finance)? Whatever your answer is, you’re going to need an accurate payment due date.

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