Key Business Realities That Retailers Face – Part 3 of 5

Do You Face This Reality?

Local stores are typically brining in inventory on at least a weekly, if not daily basis, from a wide range of vendors requiring different payment terms.
These invoices need to be processed in short order to maintain the trust and business of the vendors, some of whom may be bringing in fresh goods that are critical to the restaurant’s menu or retailer’s café.
Late payments can be extremely detrimental to these vendor relations. In fact, even liquor payment time frames can cause issues, as restaurant’s can be subject to penalties or fines if those invoices aren’t paid in a timely manner.