What does the world’s largest privately held manufacturer of inboard marine engines have in common with an industry leading distributor of funeral products and a manufacturer of water purification equipment?
They are all using B2B ecommerce to sell their products and services online and each one has their own unique business requirements that could not be met with out of the box ecommerce solutions designed for consumer sales. Continue reading
Here is the scenario: You’re a successful company with a growing business and an expanding client list- that is great! But you are having trouble with your Accounts Receivable Management; your accounts receivable turnover is low, you are understaffed and are not ready to commit to hiring new employees, your DSO is nothing to be proud of, and you are having cash flow trouble because you just cannot get customers to pay you on time…this is not so great. You are not alone. Many companies find themselves in the exact same position.
The problem always is time. Continue reading
If you have begun to consider implementing B2B ecommerce software into your strategy, you are headed in the right direction. Why? Because b2b buyers are really starting to dig online purchasing. A recent study reported 57% of b2b buyers have made purchases online and plan to do so even more in the coming year.
But you’re not alone, 40% of marketing and sales professionals will adopt b2b ecommerce software into their repertoire. What does that mean for you? Competition. Especially since 71% of B2B customers admit they would leave their current supplier for another company with the same products, similar pricing, and an option to shop online. So it’s a good thing you are weighing your ecommerce options.
But before you go running out to buy your ecommerce solution, there are a few things you need to know, one of the most important things is the difference between B2B ecommerce software and an online shopping cart. Continue reading
Balancing supply and demand is much easier said than done. On the surface it seems like a simple concept, but when you get down to it, supply chain management is no easy task and even experienced supply chain managers make mistakes. Unfortunately those mistakes can be extremely costly to an operation when the main goal of any manufacturing company is to fufill customer needs while minimizing the expense. Some mistakes you simply cannot avoid as a member of a supply chain, but other mistakes, the most common mistakes, are easy to avoid when you break them down, apply best practices, and have a solid MRP software solution. Continue reading
Many companies struggle to manage their credit and collections activities effectively which is why Credit collections management software is one of the best investments you can make for your company. The inability to juggle the many tasks associated with credit and collections can lead to severe cash flow problems that could create serious issues and possibly leave you unable to keep up with your company’s financial obligations to suppliers or your employees. Credit and collections management software helps companies of all sizes and across many different industries get a handle on their accounts receivable and allows credit professionals to get back their most critical tasks. Continue reading
A large percentage of customers truly do want to pay you on time, but somewhere along the line, the ball was dropped and payment was not received by the agreed upon day. This could have been your customers fault, but it just as easily could have been yours. Communication is usually the culprit.
If you are not getting invoices to your customers quickly and remaining in contact with them consistently, it is very easy for them to either forget to pay, or your poor communication gives them an excuse to hold payment longer. But tracking and managing communications and other activies is extremely time consuming, how can you change your processes to improve your accounts receivable collection and get paid faster?
The ideal shopping cart will allow you to reduce transaction costs, reduce or eliminate data entry and the errors associated with manually rekeying information, improve customer satisfaction, and much more. But not every QuickBooks ecommerce solution will offer you all of the tools you need to see those benefits. How can you know what you are getting prior to making the investment? Continue reading
Chardon, Ohio November 20, 2013- Today, e2b teknologies, publisher of Anytime Collect, announced a new customer has chosen Anytime Collect to work alongside their Sage 500 ERP and QuickBooks systems to improve receivables management through automated credit and collections activities.
Making a sale is great, but collecting the money associated with that sale is what keeps you in business. As time goes on, it becomes less and less likely that your past due accounts will be paid and the way you manage your collection of debt plays a large role in how many of those outstanding accounts you have to manage.
According to a report from the commercial collections agency association, the likelihood of collecting an invoice that is 90 days past due is only 69.6% and even if you are only at 60 days past due, you only have about a fifty percent chance of collecting on that invoice. That is a real problem considering how many of your invoices reach that 60 or 90 days past due. Continue reading
Accounts receivable turnover (ART) is an accounting measure used to illustrate how effective your company is at extending credit and collecting debts .If you have a high receivable turnover ratio, you are seemingly in good shape and know how to effectively collect the money that is owed to you. Unfortunately, many companies find themselves with a low ratio and have a hard time effectively extending credit and collecting outstanding debt. A low ratio means you need to re-assess your credit policies and processed in order to improve the timely collection of outstanding accounts receivable. But how can you do that? Continue reading
So, your customers are not paying you on time…it’s possible they are experiencing cash flow problems or an administration issue that is delaying payment, but more often than not the customer is not the one to blame. Simply put, when AR is managed inefficiently, customers do not receive proper and timely communications and alerts to help them remember to pay you on time. By no fault of their own, many small to medium sized companies do not have resources they need to effectively manage accounts receivable and struggle to find a successful method for managing the many tasks involved in the process.
How can you solve this without having to hire additional resources?
Capitalizing on your accounts receivable, arguably your most important asset, requires full-time attention that many companies cannot give it due to a lack of internal resources devoted to making sure receivables manaement is being done right. Regular communication is key to collecting an invoice on time. But companies who do not have a receivable management team have a hard time balancing regular communications and their other job responsibilities so those AR emails, phone calls, reminders, and other communications usually get pushed down to the bottom of the ‘ to do ‘ list. Continue reading
This white paper will delve into the bowels of the Sage MRP software and Inventory Replenishment software modules offering insights into how the module works, what underlying fields affect Sage MRP software calculations, and it will offer some tips and suggestions for extending the Sage MRP software module even further with new features from the e2b Enhanced MRP and Sales Forecasting modules from e2b teknologies.
The goal of this white paper it so help readers understand how to manage inventory and how to plan inventory using inventory management software and best practices. Continue reading
Even for accounts receivable management professionals, picking up the phone and calling someone to ask about money can be uncomfortable, especially if you are not properly prepared. Beyond feeling awkward, if you are not prepared your conversation can be a waste of time, detrimental to the relationship, and potentially harmful to the entire accounts receivable management process.
Here are a few ways you can prepare yourself for your next round of accounts receivable management calls to help you remain in control, keep your customers relationships positive, and make your credit collection calls more effective and successful than ever. Continue reading
The bottom line for success in any manufacturing organization comes down to two things, speed and accuracy. Speed and accuracy in manufacturing allows for increased cost savings, greater profit, and more efficient processes, but it’s not easy. According to a recent study, Manufacturing and Cloud Computing have become a powerful pair as software as a service (SaaS) has proven itself as a strategic way for manufacturing companies to maximize cost savings, speed up processes, and increase the level of accuracy in their operations. Continue reading