What is Open Balance by Vendor Metric
This metric provides the total sum of unpaid invoices and bills for each vendor, giving you a clear picture of your accounts payable.
Importance of Open Balance by Vendor Metric
Managing this metric effectively ensures positive vendor relationships and smooth financial operations, preventing potential disruptions to your supply chain.
Key Points for Open Balance by Vendor Metric
When analyzing this metric, it's important to consider the vendor's payment terms, your company's cash flow, and the potential impact of late payments.
Optimizing the Open Balance by Vendor Metric
To get the most value from this metric, use it to prioritize payments, negotiate better terms with vendors, and improve your overall accounts payable process.