As economic headwinds continue to slow the global economy this year, businesses are looking to strengthen their cash flow to weather the storms. On our recent fireside chat, we discussed the latest trends that will change how businesses like yours are getting paid and how upcoming technologies will help you overcome the hurdle of late payments effectively. Here are the key takeaways from the session.
Accounts receivable is a critical part of any business’s financial management, representing the money that a business is owed by its customers for products or services that have been provided but have yet to be paid for. In this article, we’ll explore accounts receivable, how it is managed, and why it is important for businesses of all sizes.
In a 2023 survey, results show that retail SMEs are keen to explore tech that improves accounts receivable, particularly its capability to integrate with accounting platforms that help their team do more with less profitably. Let’s look at how accounts receivable software can benefit your retail business and what features to look for when shopping for the right solution.
Understanding how cash flows in and out of your business is crucial in running and growing your business. On episode 2 of our 3-part B2B Financial MasterClass series, Lali Wiratunga, National Manager at Westpac’s Davidson Institute, shared with us the fundamentals of understanding cashflow, where cash hides in your business and tips on how you can improve cashflow in your business.
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