Melbourne, Victoria: Fast-growing software start-up PencilPay today announced that they are the newest Associate Member of the Independent Brewers Association. This membership will assist PencilPay to create a link to government agencies, industry, trade and international counterparts to r...
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...
Setting up Xero Payments is easy. You’ve done all the hard work by winning clients, doing the work and sending them an invoice with your accounting software like Xero. Yet, more than 50% of all invoices are paid late and 4% are not paid at all. There are many reasons why it is hard to [&...
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 ...
Brewing the best beer, gin, whisky, vodka or kombucha is an art and brewers work on their recipes for years before they have something worthy of the general public. This being said, it’s still the easy part. Just to complicate things, add the following: – brewing in large volumes; ...
It’s an exciting time when you get to finally launch your new product. A common question new products ask themselves is, “how much do I sell my product for?” This might seem like an easy question to answer. But if your pricing is off, potential customers could view you as a c...
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 i...
Imagine this. 740 different brands, each producing 5-10 products from the same category. Thousands of different designs, colours and flavour profiles, consumed by men and women, young and old, rich and poor, urban and rural. A lot of different stuff for a lot of different people. What sepa...
Proper management of your debtors is essential. A well-managed pool of debtors will see debts paid faster and lessen the build-up of bad debt in your business. Without proper management, you can expect some of your customers to become large burdens on your cash flow. But management of your...
