Ginesys introduces Cash Discount Feature
Cash discount is a common feature in retail industry across channels, and Ginesys is happy to announce that such a feature has been added to its already glittering portfolio of wonderful product and services. Previously this feature wasn’t incorporated in our system, but seeing it as a very important tool of robust retail environment, it can’t be kept away for too long. The system features a tool which automatically checks which partner has made the payment in the agreed number of days and gives back the discount, given other terms are well in place.
What is Cash Discount- Cash discount refers to a certain percentage of the entire invoice amount which is waived off when the payment is made within certain days, as agreed, so as to encourage business growth and building mutual trade relations.
It serves as a win-win situation for both the buyers and sellers. The seller has instant cash redemption and the discount given compensates for the losses in revenue if the payment is delayed by the buyer. On the other hand, the buyer gets a decent amount of discount, which keeps low inventory cost and builds goodwill between partners.
Some of the benefits of Cash Discount:-
Decreased Inventory Costs
Customer Reward and Retention