By Lance Shaw on Mar 14, 2013
Lately a lot has been written about the opportunity available to companies that can take advantage of dynamic discounting when dealing with partners and suppliers. But how can you get your organization to the point where you can also take advantage? It can seem daunting but if you already are using Oracle e-business suite, PeopleSoft Enterprise, JD Edwards or Siebel CRM, you are already halfway there!
Simply put, dynamic discounting allows you to negotiate favorable pricing when you have the ability to pay your suppliers very quickly. Initially it might seem counter-intuitive that you can improve cash flow by paying suppliers early, but the numbers tell the story. For example, if you can negotiate a 2% discount with your suppliers by promising to pay them in 10 days instead of the traditional 30, the return on capital is 2% in 20 days, or 36% annually. That kind of return is certainly more than the interest earned by delaying your payments.
That's all fine and nice if you can actually guarantee quick payments with confidence. But for many companies, the processing of documents, faxes, scanned images and other content is not anywhere near as efficient as their transactional processes. WebCenter Content and Imaging solutions fill that gap and provide the automated capture, scanning and intelligent routing needed to accelerate invoice processing along with lots of other internal processes.
This week, we posted a new screencast that quickly illustrates how processes can be improved using WebCenter Imaging from Oracle. You can view it here. We believe you will find it insightful and that you can use it to get your company thinking about ways to further automate systems that can make a real impact on the bottom line. For further details, please be sure to view one of our recent webcasts on how to optimize your e-business systems.