Date Added: May 2010
Timing is everything. From philosophers to athletes and business writers to investors, many a wise person has quipped about the importance of timing and bemoaned that lost time can never be reclaimed. In business, one place it's universally true is invoice processing. Timing is critical to good cash management, and the costs resulting from lost time can never be recovered. Ideally, payments are processed at the last possible moment to capitalize on pre-pay discount opportunities and to maximize positive cash flow - without missing deadlines that could result in penalties. Yet despite carefully laid plans, typically there are hidden expenses.