Accounts Payable Managers’ Forum (January 2007)
January 2007
Main article
Problem: At Frymaster, a manufacturer of commercial kitchen equipment that employs a workforce of 544, Rachel Spivey is AP supervisor in a department that processes an estimated 5,700 invoices a month. But there was a problem. "By analyzing our benchmarking data for discounts lost, we found that in 2003 we lost 19.78% of our available discounts," Spivey says. "Even considering that we intentionally lose discounts in order to maximize cash flow at the half-year mark and at year-end, it was apparent that we needed to find a solution to increase the amount of discounts taken."
2009
