MSME Quality Hub

Gone are the days when vendors provided services to organizations based solely on verbal orders. The friction between vendors and organizations is increasing day by day. The only way to reduce this friction and stay ahead of others is by paying vendors on time.

Just as every organization expects superior service from its vendors, every vendor expects on-time payment discipline from its customers. However, many organizations focus more on monitoring vendor quality and evaluation, neglecting the importance of timely payments.

More than the management, employees at all levels, from procurement to payment, will face challenges in their day-to-day work because of these issues. The stress and delays caused by this situation are difficult to measure, but they undoubtedly impact the efficiency and morale of the workforce.

When you pay your vendors on time:

• You will receive timely responses.
• You will receive priority in supply compared to others.
• There will be very few supply chain disruptions, leading to happier customers.
• Your brand value will increase.

Delay in vendor payment clearly indicates the company’s cash flow is in a precarious situation and serves as an early warning for system corrections.