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| OPEN ACCOUNT |
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In global trade, an Open Account is an attractive lower cost method of
international trading. Goods are shipped and documents are remitted
directly to the buyer, with a request for payment at the appropriate
time. This payment method is advantageous for the buyer, in terms of
cash flow and costs. Thus, more and more buyers are utilizing Open
Account. Premium Technology's
Purchase Order-to-Pay
(PO2P) application has a
built-in tracking system that provides both buyers and suppliers
greater visibility into the Purchase Order and delivery process. Usage
of this application will mitigate risks and lower costs.
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