Want to reduce COGS (cost of goods sold) but having trouble?
Although 80% of companies place a lot of emphasis on capturing early payment discounts, research shows that only 27% are able to capture all the discounts available, for various reasons such as:
- Companies may be unable to process invoices fast enough
- Organizations may not be able to conduct the spend analysis necessary to maximize discount capture
- Companies may not have access to best-in-breed technology platforms to run a high-impact dynamic discounting program
Dynamic discounting can be powerful enough to become the Holy Grail to reduce COGS. It’s easier said than done. This paper outlines the chasm between knowing and realizing the actual benefits.
Disclaimer: First published in the winter 2014 edition of Finance Director Europe.
About the Author: Ben Trowbridge is an accomplished Outsourcing Consultant with extensive experience in outsourcing and managed services. As a former EY Partner and CEO of Alsbridge, he built successful practices in Transformational Outsourcing, BPO, IT Outsourcing, and Cybersecurity Managed Services. Throughout his career, Ben has advised a broad range of clients on outsourcing and global business services strategy and transactions. As the current CEO of the Outsourcing Center, he provides valuable insights and guidance to buyers and managed services executives. Contact him at [email protected].
