invoices Content

Exploring A/P and Procurement Best Practices at P&G: Lesson 5

By the “hand of God,” I don’t mean soccer player Diego Maradona’s famous soccer goal but rather the ability to take invoices that might have otherwise been DOA (dead on arrival) in terms of capturing an early payment discount— and bringing them to life via a dynamic discount offer (i.e., “pay me now” – even past the early pay discount date) to the supplier. I saw P&G do a presentation a few years ago. This was something they wanted to implement more thoroughly, and I suspect that they might use one of their banking partners to help offer this (e.g., JP Morgan Chase is a good example of this with their Order-to-Pay service, acquired from Xign), but of course there are many other options from a landscape of providers.