The Australian Small Business and Family Enterprise Ombudsman Kate Carnell has welcomed Coles Group's announcement of adopting world-class core finance and procurement platforms, saying this should translate into quicker payment times for small to medium enterprises (SMEs) in its supply chain.
"We hope this digital transformation will mean all SMEs will be paid in 20 days or less, without discount," Ms Carnell said.
"Better still, if Coles can implement e-invoicing for all SMEs in its supply chain, businesses should be able to be paid in five days.
"If the federal and NSW governments can pay suppliers in five days, Coles with its 'multi-enterprise connectivity' and improved speed should be able to do so as well.
"Coles Group works with an enormous number of farmers and suppliers across our nation. We hope Australia's SMEs will directly benefit from this digital transformation."
