Economic downturns present significant challenges for wholesalers, from shrinking profit margins to increased financial instability among customers. Reducing risk during these periods is crucial for maintaining business continuity and stability. Here are the top five strategies wholesalers...
Breaking into a mature app ecosystem can seem overwhelming. The landscape is crowded, user expectations are high, and the competition is fierce. However, with a strategic approach and careful execution, it is possible to carve out a niche and succeed. At PencilPay, we navigated this comple...
The Australian construction industry is facing unprecedented challenges, with a significant surge in business failures and insolvencies. According to data released by the Australian Securities and Investments Commission (ASIC), the nine-month period from 1 July 2023 to 31 March 2024 saw ov...
Managing cash flow effectively is crucial for the success of any wholesale business. One of the key metrics to focus on is debtor days—the average number of days it takes for your customers to pay their invoices. The longer your debtor days, the more strain it puts on your cash flow. Her...
Managing accounts receivable is a critical aspect of running a successful wholesale business. However, wholesalers often encounter various challenges in this process that can hinder cash flow and business growth. In this article, we’ll explore some common challenges faced by wholesal...
Managing cash flow effectively is crucial for the success of inventory-based businesses. Ensuring a smooth operation involves two major areas: “money out,” which pertains to purchasing stock or raw materials, and “money in,” which involves collecting funds from cust...
In the fast-paced world of construction, efficient payment processes are vital for the success of suppliers. With PencilPay, construction suppliers can streamline their operations, speed up payment collections, and secure their trade accounts effectively. Â Speeding Up Payment Collection:...
In this article, we’ll delve into the powerful features of PencilPay’s payment plans and how wholesalers and suppliers can leverage them to manage outstanding invoices effectively. With a noticeable shift towards payment plans, businesses are seeking alternatives to traditional...
For wholesale businesses offering their products on payment terms, managing cash flow effectively is essential for sustainable growth and success. One strategy that can significantly impact cash flow management is offering payment on account to customers. In this article, we’ll explo...
