Should SupplierPay go the route of the UK government and require quarterly reporting on payment terms? Do you legislate payment terms? How do you put some teeth in this initiative and create a sense of urgency? Sure, having a meeting at the White House or calls from the resident to your CEO, will create some initial action. But, once the smoke dies down and the reality sets in that big boys have an agenda, need ROIs and many have already put programs in place to take care of their tier 1 (or very large suppliers), what’s next?
The idea that the US federal government should phase in a requirement that all entities that do business with it should have to submit an electronic invoice to get paid (and probably get paid electronically as well, though payment initiatives seem to exist) is a good start.
Join us on Thursday, Feb. 26, 2015 at 12 p.m. CST to get an update on SupplierPay, discuss thoughts on how the government can push the SupplierPay Pledge and show how one vendor can help with all expenses, not just indirect.