Saturday, July 13, 2013

Payables


If your company has to stretch accounts payable because it is in trouble (i.e., having financial difficulties or cash flow problems), keep your vendors and suppliers informed! Please!! These financial difficulties could be a hiccup in a long and profitable history for your company. Treat it as such and update those that supply you. I

If your vendors and suppliers turn on you due to lack of communication and poor payment, your hiccup could become a disaster quickly. As with anything, when people notice things and crave information, they begin to draw their own conclusions and the rumors may fly. These rumors with no competing, true information can shorten your company's lifespan significantly.

By communicating frankly you will build your relationships with your vendors and suppliers despite the slow pays. Keep this in mind when your company encounters some distress or slight financial distress.



Post a Comment

About Me

Popular Posts

Designed By Seo Blogger Templates