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The $800B logistics and transportation industry has had a great couple of years but started to see a global slowdown well before the outbreak of the Coronavirus. A once-booming industry is now faced with major disruption of global supply chains as shipping volumes decline, then potentially spike in just a few months. That will drive a corresponding increase in A/P processing.
What is your business continuity plan? By converting invoices from paper to electronic invoices you’ll ensure access to it from anywhere, at any time. That helps your organization minimize supply chain disruption and eliminate company-wide downtime, giving your suppliers complete transparency and confidence. Your suppliers are the lifeblood of the organization!
During a slowdown, successful companies work closely with their suppliers and accelerate payments. The scale of the slowdown is having a significant impact on liquidity, with an increasing number of large organizations saying they are looking at ways to build or maintain cash reserves. Tradeshift is actively working with customers to advise on measures to ease liquidity pressures and get working capital flowing through the supply chain. There is an easy answer for this to distribute funds through the supply chain right now.
Please join us for a coffee and a snack break to hear more about supply chain digitization and increasing your liquidity.