Technology
An organization's P2P process has the potential to play an important role in improving cash flow management by optimising the buyer's cash flow conversion cycle without interfering with the cash flow needs of its suppliers.
Centralizing accounts receivable, adopting a regular collection monitoring schedule, negotiating favourable conditions and discounts with suppliers, issuing purchases with available volume discounts and business expenditure initiatives. These practices are successful when coupled by a range of automation initiatives to improve cash management.
Financial Leaders need to understand that any strategy to optimize working capital is not complete without automation.