Invoice strategy

At Xyla we strive to put our customers first and foremost and therefore we are committed to ensuring that 95%+ of our suppliers are paid on time. This commitment is bolstered by our internal action plan that has been produced by members of our finance team and other key stakeholders (a summary of which can be seen below).

• Retraining of staff around the business who have a direct involvement with invoices
• More frequent payment runs for all suppliers
• A more streamlined approval platform
• Daily reminders for all approvers of invoices
• Ensuring the whole business are aware of our procedures
• Vendors will receive quarterly reminders of where to send invoices, statements etc.
• Negotiating with all vendors realistic payment terms.

This is just a brief overview of a much larger action plan that has been put in place and will continually evolve until we meet/exceed our targets on a continual basis moving forwards.

For more information, please get in touch