Has your Finance department lost its bargaining power?
If you’ve noticed you’re having more trouble getting some customers and suppliers to agree to your terms recently, you’re not alone.
Bargaining power — or lack thereof — has been a major problem for finance execs at midsize organizations of late.
That’s according to a recent study by American Express and CFO Research. The study found that almost half (47%) of finance execs at midsize businesses said larger customers have forced them to accept slower payments.
Even in cases where they held a negotiating advantage, 44% of midsize firms said they had trouble getting their suppliers and vendors to accept changes in their payment terms.
So how big of a problem is this lack of bargaining power? Forty-four percent of the companies in the study said it’s their biggest obstacle in terms of boosting cash flow.
- Share on
Free Training & Resources
White Papers
Provided by Anaplan
Further Reading
Despite how important monthly financial close is, many companies still struggle to close their books within one workweek, according to a su...
A recent global risk management survey revealed that macroeconomic volatility, trade disruptions, and increasing competition have pushed ca...
New data from ADP sheds light on how small employers are adjusting to shifting hiring trends and compensation strategies amid today’s...
B2B cash application refers to the process of matching a customer’s payments to the invoice that corresponds with them. In today̵...
Business and tech leaders admit their organizations aren’t looking before they leap. Fifty-eight percent of 1,000 CFOs and CIOs sa...
The Department of Government Efficiency (DOGE) got its start on Day One of President Donald Trump’s second term and met with immediat...
