White House SupplierPay Session Kick Off

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On Monday, 17 November, the White House held a meeting with close to 50 corporate attendees around the SupplierPay initiative.

It’s not often you get the opportunity to travel to Washington DC and be invited to speak. When my 17 year old triplets caught wind of this, I immediately went from Old Man back to my days of Superman, at least for a small chunk of time.

The White House released their press release on the day of the event, excited that 21 new companies signed the pledge. See President Obama’s SupplierPay Initiative Expands.  I mean what CEO is not going to take Obama’s call and how can you say No to Early Pay, that is Motherhood and Apple Pie stuff.

The Government wants transparency here, and the corporates that attended, some of the Titans of the industry, certainly want to do good. There are certainly challenges in this Do Good initiative, and as my colleague Jason says, even if it falls flat, the invisible hand of early pay has started. But I like that the Government is not trying to be heavy handed – see my prior post on Legislating Payments.  B2B payments are private commercial transactions, and every supply chain is different.

For now, I felt honored to be able to help these corporates with insights around supply chain finance and early pay. The White House did not invite any Vendors to the meeting (only the after party at PJ Clarkes on K Street). I thought that was smart.

Below is the Agenda. Over the next few days, I will provide a bit of insight on the meeting.

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White House SupplierPay 001

 

First Voice

  1. Bob Blower:

    Good result David. I am working on an initiative that will launch in the new year to help South Africa small buiness entrepreneurs.

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