Discounting is a multi-trillion dollar industry

The forthcoming business will have instant access to the funds to help their cash flow which will only pay interest on the amount they borrow in case their suppliers are not aware of the agreement.

However, duplicating an invoice is now possible. Following which the duplicate invoice payments occurred far more frequently than most organizations realize. On an average, approximately 0.1% to 0.05% of invoices paid are typically duplicate payments—which for a medium-size organization with annual costs of $100 million over a three year of the period can depict a loss of $300,000.

This mere solution is not much of a help now, especially for the SMEs because of this blasphemy and treachery involved in the process.


Was this article helpful?

Related Articles