January 11, 2022Cash Flow , Late Payments
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 track the money that is owed to them for goods or services …
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In 2021, DEAR Systems made significant updates to its platform. Their core product is better, faster and has built unique ways for products sellers to grow. An area where functionality has expanded has been payments, having launched DEAR payments in addition to partnering with 5 other payment services providers. These payment providers process credit card transactions …
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November 19, 2021Cash Flow , Late Payments
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 a large problem for small to …
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Cash flow is key to the success of every business. Poor inventory management can negatively affect your cash flow, the overall productivity of your business, and your bottom line. But if you’re a growing company, you may not realise just how much a solid inventory management system can improve your cash flow. How cloud …
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You need to track more than just revenue when it comes to building a healthy cash flow business. The reality is, that revenue reports can lie, even unintentionally. Yes, it shows you how many customers you have and how much they spend with you each month, but it really doesn’t show investors how much cash …
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July 26, 2021Cash Flow , Late Payments
In industries, such as wholesale and distribution, credit is seen as a necessity when doing business. Credit offers you a way to sell more to your customers and grow faster. However, sending out goods before receiving payment has its risks. It leaves you open to late payments, and in some cases, no payment at all. …
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July 19, 2021Cash Flow
Reviewing your supply chain risk has become one of the most important tasks to tackle in recent times due to the pandemic. Supply chain disturbances have been a common occurrence lately due to the shutdown of borders and lockdowns. This has left many businesses vulnerable and has caused a large loss of revenue for those …
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Reconciling your customers invoices is an important step in your accounting process. Not paying proper attention to this can not only cost your business revenue but also affect the relationship of those you do business with. Shockingly, a large number of small businesses and SMEs skip this step. Whether you don’t understand the importance of …
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Building business relationships is a skill that successful business people need to have. The e-commerce revolution over the last 10 years has altered the way B2C relationships are built, with drip campaigns, EDM and SMS blasts replacing human interaction. B2B is different. The relationship is built over time and trust is gained with honesty and …
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June 25, 2021Cash Flow , Late Payments
The Australian Taxation Office (ATO) will be rolling out Director Identification Numbers (DINs) in 2021. The introduction of DINs is to help address illegal phoenix activity and help protect businesses from being affected by the damage it causes. The Australian Business Registry Services (ABRS) is now beginning to test the new platform with a controlled …
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