Benefits |
|
Advantages |
| Single cheque payment |
|
Convenience of usage |
| Lesser requisitions, purchase orders, checks |
|
Less paperwork |
| Fewer levels of approvals |
|
Employee empowerment |
| Easy monitoring, control, pre-set limits |
|
More control over spending |
| Consolidated statement, branch-wise segregation |
|
Detailed reporting and analysis |
| Interest-free upto 50 days |
|
Access to credit |
| Better supplier relationship, more bargaining power |
|
Timely payment to suppliers |