Are You Taking Full Advantage of Vendor Discounts?

Vendors, in an effort to get paid in a timely fashion, often offer 1/10 net 30 or 2/10 net 30 discount terms. That translates into a one or two percent discount if paid within 10 days. If the invoice is not paid within 10 days, the full amount is due by the 30th day.  "The key, however, is that current processes and technologies must be in place to allow invoices to be paid within the set terms." says IOFM education director Pam Miller. The Time Trap "Organizations often have a difficult time…