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Same experience here in India. Larger companies (with $billions in revenue) pay in 1-3 months. Small/medium companies pay in a week. The problem is that in big
by jeswin 7y ago
Same experience here in India. Larger companies (with $billions in revenue) pay in 1-3 months. Small/medium companies pay in a week.
The problem is that in big companies, nobody really owns anything. So you're going to have to chase a whole bunch of people and processes, from finance to compliance to HR. And it's not individually any single person's fault.
- the-dude 7y agoYou seem to suggest the paying-late is a symptom of the org, my experience is different : I happen to know certain big corporations have departments making sure bills are paid as late as possible, including haggling the invoices down.
- jjeaff 7y agoPaying late is corporate finance 101. Or at least 201. I remember building spreadsheets in class showing the difference in paying bills on time vs net 30, 60, 90. The difference is pretty significant when dealing with large numbers.
- user5994461 7y agoThe difference used to be significant when inflation and interest rates where in the order of 10% year over year. It's not the case anymore since they dropped to near zero, unless you really don't have the cash on hands to pay now.