If you’re seething about late trains … what about late payments? The rail industry has them both.
According to The Daily Telegraph, Invensys Rail has told key UK contractors they will have to wait up to twice as long to be paid.
No leaves on the line this time to delay a trip to the bank – or chequebooks buried under the wrong kind of snow.
But, rather, it’s a case of bringing payment terms ‘in line’ with company terms … which means payments two months after the month in which the invoice was raised, according to the report.
Of course, this shunts cashflow pressures down the line to the smaller companies that are coupled to the business.
And they’re feeling it. The Telegraph quotes one supplier saying: "Invensys was already one of the worst payers on 55 days and now it's another 30 days."
Fortunately, EGS has a solution that doesn’t leave suppliers waiting in the cold, agonising over unforeseen delays.
With our electronic invoicing solutions, our customers’ suppliers have multiple methods for submitting invoices incredibly quickly and electronically.
Likewise, our customers find it easier to pay their suppliers within the time agreed within established contracts. Invoice approval is highly automated and becomes a streamlined, hands-free process.
It’s fair, accurate, transparent and predictable. Put simply, everything runs on time.
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