February 6, 2024Cash Flow
One of the persistent challenges faced by wholesalers is the risk of bad debt, which can have a cascading effect on the overall health of the business. In this article, we explore how PencilPay, with its innovative features, acts as a shield, significantly reducing the threat of bad debt and fostering a secure financial environment …
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January 31, 2024Credit Applications
In the ever-evolving landscape of wholesale transactions, the onboarding process stands as a pivotal factor influencing the success and stability of a business. This article dives into the comparison between the traditional manual onboarding methods and the revolutionary PencilPay platform, shedding light on how technology is reshaping the wholesale industry. 1: The Pains of …
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December 20, 2023Cin7
In the fast-paced world of wholesale transactions, every tool that streamlines processes and boosts efficiency is a game-changer. PencilPay, seamlessly integrated into Cin7 Core, brings forth a powerful Deposit Feature designed to revolutionize the way businesses handle deposits, ensuring a smooth and secure sales experience. Flexible Deposit Options: Tailoring Deposits to Your Needs Recognizing that …
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December 13, 2023Wholesale accounts
In the dynamic realm of wholesale transactions, the onboarding process lays the foundation for the entire business relationship. Failing to onboard a new wholesale account with precision and the right data not only exposes you (the seller) but sets the tone for the entire journey. Lost Protections Picture this scenario: A new wholesale customer comes …
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December 11, 2023Credit Applications
In the dynamic world of wholesale, many businesses still grapple with outdated and manual onboarding processes, hindering efficiency and paving the way for potential challenges down the line. This article explores the surprising absence of a standardized onboarding procedure in the wholesale sector and how PencilPay revolutionizes the customer onboarding experience. Challenges in Traditional Onboarding …
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November 27, 2023Cash Flow
In the dynamic realm of wholesale, where transactions unfold at a rapid pace, the management of cash flow is paramount. One pivotal aspect that can significantly influence cash flow is the method of payment. In this article, we’ll explore how automated payments inside of PencilPay’s innovative software, can revolutionize the cash flow dynamics of your …
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November 22, 2023Accounting
In the dynamic world of commerce, effective management of trade receivables is paramount for financial success. As businesses navigate the complexities of credit transactions, the need for efficient systems and strategic approaches becomes apparent. In this article, we delve into the world of trade receivables, exploring strategies for optimization and the role of technology solutions, …
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November 21, 2023Credit Applications
If a business uses Netsuite and runs a wholesale channel with payment terms, customer onboarding becomes crucial. The saying “Garbage in, Garbage out” gains significance. Typically associated with huge datasets, here it’s about the crucial data sets. The right data and a solid process from the start ensure payment at the end, the ultimate goal …
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November 15, 2023Late Payments , Uncategorized
The Hidden Pitfalls of Offering Extended Payment Terms in Wholesale Business To be competitive today, offering extended payment terms to wholesale customers is a necessary evil. However, this seemingly customer-friendly approach often leads to a host of challenges, resulting in late payments, increased debtor days, and mounting bad debt. In this article, we delve into …
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