How Inflation, Recession and Supply Chain Challenges Can Become AP Opportunities

How AP Can Leverage the Current Economic Challenges 

It’s impossible to look at the news without seeing alarming reporting about rising inflation and the predicted recession. Combined with the supply chain challenges already being experienced, those issues can impose a significant negative impact on an organization’s cash position. 

IOFM partnered with Bottomline to explore what accounts payable teams can do — not only to mitigate these trends, but to actually turn them around to improve cash flow. Because suppliers are also cash-strapped, consistently paying them on time helps them out, making them more likely to continue to work with you. On-time payments also ensure you receive available fast-pay discounts. If your suppliers have been reluctant to offer these, now’s a good time to renegotiate. There are also ripe opportunities to receive cash rebates on your payables, based on payment method. 

However, the only way to be able to capture these benefits requires a level of efficiency available only through streamlined automation. Download the white paper, “How Inflation, Recession and Supply Chain Challenges Can Become AP Opportunities” to discover strategies for turning economic lemons into lemonade.