Cash Management

The Surprising Fact About Late Payments and What to do About It

Late payments. Companies of all sizes must deal with them. It is very common for customer invoices to be paid 30 to 90 days after the commonly accepted net-30 ─ which can seriously and detrimentally affect a business’ cash flow. The fact is that cash reserves can be quickly drained when payments are late. Making loan payments and meeting payroll still need to happen. Delayed … [Read more...]

Time and Money: Why Purchasing Electronic Components Online Will Save You Both

Time and money. In business, they closely coincide, and an imbalance could spell disaster for your firm and your reputation. By keeping one step ahead and by looking past conventional methods of shopping, you and your business can reap the benefits of tailored costs and improved time efficiency, giving you the edge you need to drive your company forward and keep one step ahead … [Read more...]

5 Tips for Improving Your Accounts Receivable Management

If your Accounts Receivable department is struggling to achieve payment from clients, you need to find a solution quickly. Problems in your AR department can quickly snowball and start to affect the rest of your business - after all, it’s where your money is coming from at the end of the day. While some tips for improving your invoicing strategy may seem obvious, there are … [Read more...]

4 Important Invoice Management Tips for Small Businesses

As the problem of too many business expenses and not enough cash on hand to pay for them arises, you need to take invoice management seriously and find a cash management solution to help you out. When a business is just too dependent on cash flow to be successful, these four invoice management tips can help alleviate the situation. Create a Checklist When it comes to … [Read more...]

What Are a Startup’s Biggest Challenges and How Do You Deal with Them?

Entrepreneurship is on the rise as starting your own business isn’t as hard as it used to be; with a resourceful market, available funding opportunities, and the internet –nothing is stopping you from venturing into your business idea and beginning your startup. However, having your own startup comes with its own set of challenges and struggles that you need to overcome to … [Read more...]

4 Factors That First-Time Entrepreneurs Must Not Forget

Becoming an entrepreneur has become popularized in recent years due to the success of Silicon Valley startups like Facebook and Google and celebrity entrepreneurs like Mark Cuban and Gary Vaynerchuk. Despite the popularity and glamour of building your own business empire, the realities can be harsh and cruel. Here are 4 factors first-time entrepreneurs must not forget when … [Read more...]

Cash Flow Caution: A Guide to Bank Reconciliation

Bank reconciliation is a process that is used to determine whether your company’s books are precisely in line with your bank statements at a given bank. It may not imply anything serious, it is important to sort out any discrepancies. The bank reconciliation process also ensures that your finances are in order and you have a complete picture of where your business is … [Read more...]

4 Obstacles Businesses Face When Trying to Manage Their Finances

Offering a quality product or service is only one component of running a successful business. You also need an understanding of how to market that idea, get it to your customers, and make sure that your pricing model runs in step with your financial demands. While keeping your business afloat may seem like an arduous task, it’s a surmountable one. The following four obstacles … [Read more...]

5 Replicable Traits of Wildly Successful Entrepreneurs

Starting your own business may seem daunting, especially if you don’t have any experience with entrepreneurship. If you are worried about being able to make your business a success, it is always helpful to turn to other entrepreneurs to see what you need to do. Learning from the example of others is one of the best ways to see what you should and shouldn’t be doing. Truly … [Read more...]

What is a Smart Safe And How Your Business Can Benefit From One

Does your business handle cash? If it does, there’s good news. Cash is still king. And it's likely to remain that way for decades—despite the buzz about digital payments. So you shouldn’t have to make sweeping changes in how customers pay you any time in the near future. Why will cash remain king? It's simple. Consumers prefer using it instead of other payment methods in … [Read more...]