If your company is one of the many Australian wholesale businesses that supply goods to other businesses, you probably offer credit to your clients. Although it’s risky to issue trade credit, customers will likely take their business elsewhere if you don’t offer this option. Pencil is an Australian company that offers a solution to the …
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July 20, 2022Cash Flow
5 Strategies To Accelerate Cash Flow in Your Business Maintaining a healthy cash flow is one of your top priorities as a small business owner. Poor sales or a slowdown of customer payments could put your company in financial trouble. The good news is that there are ways to speed up your cash payments and …
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Business-to-business relationships often require good faith arrangements. Due to a lack of up-front funds, suppliers like you must extend trade credit to maintain B2B partnerships. However, when you enter into trade credit agreements, you place yourself in a vulnerable position. With too few regulations and security measures, these arrangements are risky. Issuing more than $1.3 …
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March 30, 2022Cash Flow
Companies in the business-to-business space have historically been slower to embrace new technologies than companies in other sectors. Embracing new B2B technology can give you a competitive edge and improve almost every aspect of your business. Benefits of Using B2B Technology By implementing B2B technology into your business, you may see a number of advantages. …
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March 22, 2022Cash Flow
Trade credit is the lifeline of SMEs in Australia. In fact, businesses of all sizes rely on commercial credit. It ensures that they have the resources to meet clients’ needs, whether they have enough liquid assets or not. However, the businesses supplying this B2B credit take on high levels of risk. Over the years, financial …
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March 22, 2022Cash Flow
Xero has grown exponentially over the past few years. The New Zealand company has become a strong contender for Quickbooks and now boasts 3 million subscribers. One of the features that continually draws new users is the ease of setting payment terms in Xero. Whether your business requires payment in seven days or 30, the …
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February 4, 2022Cash Flow , Late Payments
Everything that happens leading up to signing a new wholesale customer is the hard part. You need to create a product, then produce it at a price that stacks up. You then need to create a brand, get the name out there, visit customers, negotiate pricing, volumes and get them to say yes. As I …
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The financial health of a business is arguably the biggest determining factor for longevity. This is why accounting plays such a crucial business role. However, no matter how skilled the accountants you have onboard may be, the more manual processes involved in accounting, the higher the risks of human error. Accounting software greatly eliminates these …
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