Cash flow is top of mind for all corporate leaders today, even with all of the other challenges they are facing. Delays in the cash supply chain can be just as problematic as delays in the physical supply chain, and while procurement is typically focused on negotiating value and savings from suppliers, being more informed about the opportunity that exists in managing cash flows is substantial - and can bring them into closer collaboration with the rest of the business.
In this episode of The Sourcing Hero podcast, Host Kelly Barner welcomes Chris Tsai. Chris is the Co-Founder and CEO of Resolve Pay, a company that helps B2B businesses grow by streamlining net terms invoicing, credit, and payments.
Especially in today’s economy, all companies want greater financial velocity, and so Chris and his team have focused on making that possible through automation.
Highlights
In this conversation, Chris illustrates the importance of smart, efficient cash flow management through payment terms and transparency:
- How cash flow management works for inventory-based businesses
- The challenges that exist for retailers who have high customer-facing demand but are reliant upon distributors that are concerned about their credit limits
- What happens to supplier relationships when companies are stuck waiting for their customers to pay them so they can pay their suppliers
- How more efficient cash flows can lead to hard dollar savings
