One of our main services is Payment Management of local and international suppliers. Over time, CATOJISA has evolved and sought solutions that provide processes, better service, and improve the experience of customers and the community.
A healthy accounts payable administration allows:
- Making timely invoice payments, avoiding the generation of unnecessary interests.
- Maintaining a good relationship with suppliers.
- Maintaining adequate cash flow.
- Obtaining better payment solutions.
At CATOJISA, we are committed to helping you take your organization to the next level and proposing solutions that allow your company to evolve to be highly competitive. Therefore, we share with you the key aspects that you should not overlook based on our experience.
Know the 7 key aspects that can be useful to optimize the administration of accounts payable for your company, both locally and internationally:
- Establish payment terms in advance through treasury forecasts and budgets: this allows you to prevent future errors, have greater control and administration, as well as a more efficient process. At this point, payment methods and dates are established and finalized. The goal is to protect liquidity and financial security.
- Maintaining good communication with your suppliers helps to have better negotiation: proper attention in a timely manner ensures quality and trust, the axis of all relationships. It is important to notify in advance any situation that affects the timely payment and negotiate another payment date.
- Check that your suppliers fulfill their commitments: monitoring compliance with the commitments agreed upon with suppliers in a timely and proper manner is key to a successful payment management process closure.
- Set up payment alerts or reminders: use technological tools to keep digital and automatic control and recording so that no detail is overlooked.
- Automate and standardize the payment system: relying on software can help reduce errors, administrative burden, and delivery times, as well as greater information security. (perhaps talk about our systems)
- Guarantee information security: This is one of the most important aspects and therefore a priority. It allows banking and financial information to circulate securely over the network.
- Frequently review Treasury positions, closely following the effect of taxes.
For us, maintaining effective management is crucial. Honest and professional work is vital to maintaining good relationships and communications that guarantee a successful process. On the other hand, in an increasingly changing world, we cannot overlook updating and optimizing our processes since this will guarantee the growth and health of our organization.
Source: Circulatis, Kyocera
March 30, 2023