Scrutinizing your business with a fine-tooth comb to identify unnecessary costs is a key step when it comes to improving your profitability. But one area that is often overlooked is inventory. There are plenty of improvements businesses can make when it comes to cutting inventory costs, an...
Throughout the lockdowns, coffee roasters have taken a hit. Some creative roasters have been able to figure out a way to thrive during these events. While Australia’s coffee scene is one of the strongest in the world and is recovering faster than most, things aren’t quite as stable as ...
A powerful addition to your collections toolkit is having a demand letter. This comes into play when you have tried everything to receive a payment from your customer/s. A letter of demand, also known as a dunning letter or debt collection letter, helps your B2B customers know that there a...
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 inves...
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 ...
Essential Tips on De-risking Your Brewery For Future Uncertainties Working with breweries all around Australia before and after COVID-19, we have first hand knowledge of the pitfalls of having all of your eggs in one basket. From dealing with the major supermarkets to independent bottle sh...
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 ...
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...
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...
