Policies for Taking Vendor Discounts

Organizations often have a difficult time processing invoices in a timely enough manner to qualify for early payment discounts. Fortunately, technology has improved processing times, and there is an increasing ability to capture more of these valuable discounts. But just how do they do it? IOFM surveyed its members and found that the policies that organizations follow for taking vendor discounts on invoices vary to a substantial degree. The most common approach, used by more than 40 percent of…