Why should procurement care about payment?

Paul Snell is managing editor at Supply Management
20 July 2015

Procurement professionals should pay more attention to the payment methods their organisations use in order to make savings, improve compliance and mitigate supplier risk.

That’s according to the latest AirPlus Advises white paper, published in conjunction with Supply Management, which is now available to download.

Why procurement should care about payment highlights the sole motivation for choosing a payment provider is frequently the largest rebate offered. But the white paper warns this can ignore hidden costs such as additional foreign currency charges.

Selecting a payment method can have implications for managing cash-flow, negotiating improved payment terms from suppliers, increasing efficiency and raising compliance, the white paper counsels.

Telecoms business BT was able to save £400,000 a year by reassessing its own payment provider, a case study highlights.

The white paper, AirPlus Advises: Why procurement should care about payment, can be downloaded here

LATEST
JOBS
Cornwall
£37,191 - £44,697
Cornwall County Council
Hounslow, Heathrow /Richmond upon Thames
Competitive salary depending on experience plus generous share award
Tails.com
SEARCH JOBS
CIPS Knowledge
Find out more with CIPS Knowledge:
  • best practice insights
  • guidance
  • tools and templates
GO TO CIPS KNOWLEDGE