8 Accounts Payable Tips to Improve Supplier Relationships (Infographic)

Aside from customer loyalty, a good supplier relationship is critical for running smooth day-to-day operations as well as to sustain the long-term growth of a business. From a finance and accounting perspective, paying the suppliers on time and accurately is important to build trust with suppliers.

Establishing a symbiotic relationship with suppliers allows your business to save money from trade credit, and enables you to have your goods and services on time, allowing you to make strategic decisions for your products, and gain a competitive advantage in the market.

To ensure that all payments are made to the supplier on time and accurately, we’ve gathered some of the tips that will help you establish a solid relationship with your suppliers through effective and efficient accounts payable function.

8 Accounts Payable Tips to Improve Supplier Relationships-01

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