How to Boost Your Business Profits
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How to Boost Your Business Profits

5 Practical Tactics to Cut Costs and Increase Income Every business should constantly be adapting to cut its costs and boost income, resulting in higher profits. This works on both ends—getting more sales will likely result in more profits, but reducing unnecessary costs will also support this effort. So, what are the most effective strategies…

Why Do So Many Manufacturing Companies Factor Their Sales Invoices?
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Why Do So Many Manufacturing Companies Factor Their Sales Invoices?

How invoice factoring shortens the working capital cycle Any business that issues sales invoices to customers can benefit from sales invoice factoring. However, some industry sectors, such as manufacturing, have caught on to the benefits of factoring more than others. Manufacturing companies generally offer 30, 60 or 90-day credit terms, and that can be a…

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What to do When a Customer Won’t Pay Their Invoices

10 Ways to Improve Collections and Cash Flow If you manage accounts receivable (AR), you will be all too familiar with the usual excuses for non-payment. The check is in the mail, my manager is away on vacation, and we sent a payment to you last week; these are just a few tactics people use….

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8 Reasons Why a Budget is Essential for Business Success

The time you spend on the budget will be time and money saved. Planning is essential for business success, and one of the crucial elements of a business plan is an annual budget. However, preparing a yearly budget takes time. And, when you have plenty of other things on your plate, spending hours crunching numbers…

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How to Calculate if Invoice Factoring Will be Cost-Effective for Your Business

A quick guide to the benefits and costs of invoice factoring Invoice factoring is not a suitable financial solution for every business. Suppose your business raises only a few invoices and customers settle their accounts within 15 days, for example. In that case, the benefits you would gain from factoring invoices would be minimal. And,…

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How to Manage Your Business Through a Period of Inflation

Inflation is roaring back. These tips will help you mitigate its impact on your organization. You’re no doubt feeling the effects of inflation at the gas pump, grocery store, and in supplies for your business. Economists are predicting that rising prices are likely to be a feature of the economic landscape for some time to…

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The Benefits of Invoice Factoring for Wholesale and Distribution Companies

Invoice factoring simplifies cash flow management and eases burden of managing accounts receivable Wholesale and distribution companies often operate with lower gross margins. So, the pressure is on to turn around inventory fast. But, sometimes, customers fail to pay sales invoices on time. And that can leave a cash flow shortage that can lead to…

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6 Finance Mistakes That Can Derail Your Business

Avoid Blunders That Can Disrupt Your Growth Plans Many businesses are built not only on good performers and talent, but also with good management of finances. This is a key point in business growth, which makes it important to avoid mistakes that may derail your plans in the long term. With these notes considered, here…