Efficient use of working capital has emerged as a key business focus for corpo-rates - both on the buy side and the sell side - in the aftermath of the global banking crisis. While delayed payments to suppliers have become common practice among corporate treasurers in the past six to eight years, the global liquidity crisis proved the domino effect that an inefficient, or nonexistent, supply chain financing (SCF) programme can have on a buyer and its client base. Many suppliers faced bankruptcy due to late payments, which consequently disrupted product flow to buyers.
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