In the past few weeks I have become a real fan of Twitter. A good friend of mine Catherineweber got me hooked. When it comes to Social Media I have always gone to her to get her opinion. Catherine is in the business and really understands it. My twitter account is Michael_Corey. My companies corporate account is Ntirety. I guess its pretty clear I have the Twitter bug. The question then is how does this get into a discussion on 120 days becoming the new norm for payment terms.
As I was reviewing my Twitter feeds. I guess the proper word is Twittering. We were talking about a prospect that was demanding payment terms of 120 days. What a scary thought. Historically when I saw that it meant there was a good chance they were not going to be good for the money. This conversation went back and forth. Well Catherine just sent me this link to an article that appeared in dailypress.
Anheuser-Busch InBev narrows spigot: Vendors will wait longer for payments
AMES CITY – Anheuser-Busch InBev vendors will have to wait longer to get paid under a new policy put into place by the corporate headquarters earlier this week.
As of Feb. 1, the beer conglomerate implemented a new pay policy that means it will pay suppliers for goods and services every 120 days instead of every 30 days, as it previously paid.
Not 60 days a 120. Ouch !
To read the remainder of the story….
Posted Michael Corey,
Founder & CEO, Ntirety
My Personal Twitter Account: Michael_Corey
Ntirety Corporate Twitter Account: Ntirety