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Resource | 4 December 2012
Some suppliers just don’t give an option to extend their payment terms, so a sure-fire way to increase your days payable outstanding (DPO) is to set up reverse factoring agreements, says Vicky Lister, Accounts Payable Manager at Nestle EU.
But selling the idea to the right suppliers and coordinating this with your bank can be a challenge.
This presentation from The Accounts Payable Tech Summit 2011 describes how Nestlé is transforming its DPO with reverse factoring by:
• Engaging with purchasing to identify and communicate with the right suppliers
• Selling the reverse factoring idea
• Working with the bank
• Understanding what training you need
sharedserviceslink.com will be hosting The Accounts Payable Tech and e-Invoicing Summit 2012 in December in London, UK.
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