3 Ways To Reduce Risk When Supplying Goods On Terms
If your business is a small- to mid-size Australian supplier, you likely have specific questions about trade credit risk. It is common practice in business-to-business relationships to provide trade credit, but this mode of operation may put the supplier at a disadvantage. Will the buyer h...
Forget Unpaid Invoices: How To Prevent and Solve an Overdue Invoice
In Australia, small to medium-sized enterprises provide about $1.3 trillion in business-to-business credit. Trade credit allows consumers to access goods and services that they may be unable to under other circumstances. While trade credit is standard practice, suppliers often deal with a ...
Why are sales falling through the cracks?
I met up with an old employee last week who’s now a BDM at a medium-size Consumer Goods manufacturer. We talk about almost everything, but this conversation very quickly steered towards work, more specifically; selling. Her shift from the transactional nature of B2C selling, across to th...
5 Tips for Taking the Risk out of Being a B2B Supplier
Mitigating risks also goes a long way toward ensuring losses are minimal and earnings are high. So, what can you do to reduce or eliminate the unique B2B supplier risks you face? 1. Determine Your B2B Supplier Criteria Take a look at your current sales and payment data. What would you like...
5 Benefits of Doing Online Invoicing for Your B2B Business
Have you considered online invoicing for your business? Companies are using invoice software to create invoices and streamline their accounting processes to improve their productivity. Even if your business doesn’t yet have its own separate website for setting up payments, you can use so...
A Beginner’s Guide to Accounts Receivable
Some industries, such as retail and food service, operate primarily on a payment at the time of service basis. However, most business-to-business transactions are made on credit. This means goods or services are delivered before payment is received. Accounts receivable is how businesses tr...
How to Maintain Cash Flow With Payment Plans
82% of businesses fail due to poor cash flow. Most of these businesses are wholesale/suppliers who offer their goods on trade credit. Why do they fail? Late payments. You probably already knew this. You’re in the game yourself and face these problems on a regular basis. Late payments are...
The Benefits Of Direct Debit For Your Business
Getting paid on time should be simple, but sadly, a lot of businesses that release stock on credit are left out in the cold waiting for their payment to come in for weeks. In a recent study on 150,000 small Australian businesses, 53% of all invoices sent were paid late by an average of 23 ...