Recovering overdue payments is one of the most challenging tasks for businesses. Balancing the need to collect payments with the desire to maintain a strong relationship with customers can be tricky. Push too hard, and you risk alienating your clients. Be too lenient, and you may never get...
Payment terms are a double-edged sword in the world of wholesale and distribution. While they can help secure larger orders and foster strong client relationships, they often lead to cash flow challenges when payments are delayed or mishandled. If your business is struggling to maintain a ...
The fast-moving consumer goods (FMCG) sector operates on tight margins, high sales volumes, and rapid inventory turnover. As a distributor in this industry, staying competitive means streamlining your operations wherever possible—including your payment processing. Manual payment systems ...
The Australian craft beer industry has faced significant challenges since the high times before and during COVID-19. In the first half of 2023, 35 Australian craft breweries went out of business, nearly matching the total for 2022. This article explores the problems craft brewers face and ...
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...
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...
In the wholesale industry, offering payment plans can be a strategic move to retain customers who are struggling to juggle their bills and have a habit of paying late. However, understanding the ins and outs of payment plans is crucial for wholesalers to leverage this tool effectively. In ...
In the midst of the challenging landscape faced by Australia’s independent brewers, the recent plea from the Independent Brewers Association (IBA) for government intervention highlights the critical need for support. With craft breweries grappling with closures, restructures, and fin...
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 paymen...
