In the wholesale industry, maintaining a steady cash flow is critical. However, late payments, inefficient payment processes, and manual invoicing can make it difficult for businesses to get paid on time. This is where wholesale payment solutions like PencilPay come into play. By automatin...
Managing credit terms and payments can be one of the most complex aspects of running a wholesale business. Offering credit to customers can help drive sales, but it also opens the door to potential risks, such as late payments or, even worse, bad debts. One powerful solution to mitigate th...
Accounts receivable (AR) is the lifeblood of any business, but managing it manually can lead to inefficiencies, late payments, and cash flow issues. In today’s fast-paced business environment, wholesalers need to rethink their approach to AR management. Enter AR automation—a game-chang...
Onboarding new clients is a critical process for wholesale businesses, especially when extending credit terms. However, many wholesalers rely on outdated, manual methods for client onboarding, such as paper-based credit applications and time-consuming verification steps. These traditional ...
Managing financial transactions is essential for businesses, especially when using multiple platforms to handle payments. If you’re using NetSuite for your accounting and PencilPay for managing payments, reconciling these with your bank account is crucial to ensure that all transacti...
As the 2024 U.S. election draws near, domestic manufacturers, wholesalers, and distributors face a critical moment. The outcome of the election could make or break these industries, which depend heavily on the health of the American middle class. For decades, the U.S. middle class has been...
Packaging wholesalers often face unique challenges when it comes to getting paid on time. We recently spoke to 50 Packaging suppliers across Australia about how the run their accounts and what results they have seen. Below, we explore five common problems packaging wholesalers encounter an...
For alcohol suppliers, managing payments can be a complex and time-consuming task, especially when dealing with large orders and various payment terms. With a mix of payment methods—ranging from net terms to upfront payments—manual processing can slow down operations, impact cash flow,...
Managing prepayments is a crucial aspect for many wholesale business operations, especially for companies that deal custom manufacturing, or long lead times. Prepayments help businesses secure funds before production or shipment, but manual handling of these payments can lead to errors, ...
