Payable Strategies for the Long Tail Suppliers — Stage 4: Selection Process and Key Issues to Address

If the mandate from your C-suite is to find a solution to pay all suppliers early, rest assured that this process comes with a range of options. But before you begin to evaluate options, every company has a baseline of existing solutions, technology, processes and procurement agreements that form the basis of the evaluation.

In the fourth part of this Spend Matters PRO series, we will discuss the pros and cons of each option and key strategic questions for your team to address.

For this series, here are the five stages for tackling your payables strategy:

• Stage 1 — Assessing Your Current Situation
• Stage 2 — Understanding Addressable Spend & Early Pay Options
• Stage 3 — Addressing Operational Challenges Early
• Stage 4 — Selection Process and Key Issues to Address
• Stage 5 — Getting to a Decision

Let’s jump into the details for Stage 4.