“Control your expenses better than your competition. This is where you can always find the competitive advantage.” - Sam Walton (Founder of Walmart)
For business owners like Jeff Bezos (Amazon Founder) and Sam Walton a dollar saved is a dollar earned. Both businessmen spent countless hours innovating and developing new ways to improve efficiency and pass the savings on to their customers. They believed that survival in the long run meant lower operating costs.
All of this effort has obviously paid off. Amazon is now a power house in the eCommerce space, boasting nearly 100 million Amazon Prime members. While Walmart is a household name known for their low prices and convenience. Both brands are so highly coveted because they took advantage of cost saving initiatives.
New innovations in technology are always providing new ways to save money and improve efficiency. One of these innovations happened recently in Supply Chain Finance. Now your company can save money on its accounts payable department, giving you a competitive edge.
If you aren’t saving money from your accounts payable department, contact the Supply Chain Finance Association to learn more.