Xerox Takes SupplierPay Pledge to Help Small Suppliers Get Paid Faster
November 21, 2014 – Xerox – and 25 other companies – are taking the SupplierPay Pledge. Launched by President Obama, the initiative is designed to help small businesses working as suppliers to large organizations get paid faster.
“On average, corporations take 46 days to pay their invoices of their suppliers — small businesses that provide them services necessary for their business. Waiting an average of 46 days to get paid leaves small businesses without the capital they need to hire and invest in new opportunities or equipment.
Thanks to the SupplierPay initiative, companies are now committing to pay small businesses contractors faster. This way, small suppliers get the capital they need and larger companies benefit from higher-quality goods, more stable suppliers, and lower prices.”
Other companies that have taken the pledge include Seimens USA, Intuit, and Hallmark.