Accounting payment terms are the payment rules imposed by suppliers on their customers. Payment terms are imposed to ensure that payments are received by suppliers within a reasonable period of time. Often discount terms may be allowed to accelerate cash collections. A large customer may use its purchasing power to force a supplier to agree to terms that are more favorable to the customer, such as a longer time in which to pay the supplier, or relaxed rules for returning goods. Through advanced analytics we can we can help you to see how your company can structure more appropriate payment terms to positively affect your business and increase your company’s cash flow.
Payment Terms Analysis
Maverick spending is the expense resulting from purchases that are breaking the rules established by corporate procedures. Maverick spending ignores defined procurement processes defined by previous negotiated purchasing terms.
Axis Group can help to improve your bottom line by identifying these maverick spends, by giving your company complete visibility and control over your spend. Accessing real-time data has immense value for businesses particularly across their supply chain. Knowing where the good buy can be found is as significant as developing a new business operation entirely. We can help to find the good buy by helping to build it into procurement best practices.