Senior IM Account Manager at Canon (UK) Purchase to Pay Expert - Be compliant with new April 17 Payment Regulations
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From April 2017 new Government Legislation will require qualifying businesses to report their payment practices including how long they take to pay supplier invoices which will detail the % of invoices which were not paid on time.
The report will be made available to the press and public with the aim of naming and shaming inefficient and irresponsible companies because of the severe detrimental effect late payment has upon the economy. The brand damage could be catastrophic.
Without the deployment of an automated solution, qualifying businesses will find it almost impossible to process and pay all supplier invoices on time without the addition of more staff which, in a competitive lands...
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