For a business to be successful, maintaining a good relationship not only with clients but with suppliers, is important. When your company isn’t able to meet the expectations of your supplier or if there are too many promises being broken, it is entirely possible for the working relationship to fall apart. When that happens, there may be a lot of other components of a business that may be affected along the way.
Preventing supplier friction is important for a business to thrive and it is only possible to do so if you are aware of the signs and symptoms of it being apparent or at least on the horizon. Find out why Nexus account payable automation software can address these issues and more.
Delays Due to Incompatible Systems
The most common issue that a business may encounter that could lead to supplier friction is the incompatibility of systems. Imagine if you had a customer that’s constantly missing out on their payments because their card can’t be processed by your system. They’re the only customer that you’re having this issue with.
Unless you believe that it can be justified to add their specific card onto the list of cards that can be processed by your system, then you are going to have a tough time having to constantly deal with this particular customer. That is the same mentality for suppliers.
Ultimately, it is expected of you to be able to meet the standards of your supplier especially if the system that they use is technologically more advanced. There is no reason for a company that is modernized to take a step back just for the sake of one entity that they supply. This is fairly easy to observe.
Do you take a longer time to process invoices and payments when compared to your supplier? Are they sending you electronically generated reports while you send them orders that are handwritten? Do they have automatically generated analytics? Then there may be incompatible systems.
Broken Promises and Missed Payments
You don’t have to use a Nexus account payable automation software to figure out that you are missing payments. When this happens, it is important to avoid repeating the same mistake over and over. If it’s needed, you should reschedule the promised payments that you are going to send even if it costs you a little extra.
However, there is a great way to avoid this. You can take advantage of a Nexus account payable automation software. Through automation, you will no longer have to stress over broken promises because the software will ensure that everything is processed automatically on the scheduled dates.
When you are able to keep your promises to your supplier, you may even be able to get an exclusive offer on the things that they supply you with. This, in turn, saves you a lot of money while you also maintain a better working relationship with your supplier.
The Nexus account payable automation software can help you address issues and improve relationships with suppliers. Contact us today for more info and schedule a demo.