For more than a decade large firms have been able to support their suppliers with a range of supply chain finance (SCF) options. Yet, uptake of these programmes by SME suppliers has remained limited
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Asking the right questions on slow payments
As the Government announces new enhanced powers for the Small Business Commissioner to tackle late payments, Paul Christensen, CEO and co-founder of Previse, points out that, unless these are coupled with reform to Prompt Payment reporting, they are unlikely to lead to practical changes for SME suppliers.
Time to turn to technology to fix the supplier payments problem
Following the announcement last week that company boards would be held directly responsible for payment practices, David Tyler, former Chairman of Sainsbury’s, and a member of Previse’s AdvisoryBoard, argues that if retailers do not make significant progress on improving supplier payments, they risk a harsher regulatory environment.
