Increase Your Company’s Cash Flow to Monitor Purchasing, Production, and Warehousing

Integrated data tools like ours let you monitor your business in real time. This is critical when you’re looking for ways to increase cash flow. After all, increasing sales isn’t the only way to increase the assets that you have available.

In addition to monitoring your accounts payable and receivable, managers and executives who are using our solution within their organizations are able to:

  • Evaluate supplier relationships. The more that you know about the costs of working with various suppliers, the terms of your purchasing agreements, surcharges, and minimums, the better the position that you’ll be in to negotiate. Whether you opt to work with a supplier who offers better terms or request a better arrangement with current suppliers, having all of the right data available allows you to identify ways to cut costs.
  • Identify wasteful spending associated with production. By using our solution to monitor production costs, you will identify other ways of saving and increase the amount of cash you have on hand for other necessary spending.
  • Identify excess warehousing costs. When you store product prior to shipping, you have overhead. Some of this may be able to be avoided by changing the date you receive product from suppliers, minor adjustments to the production schedule, or be based on where you store your manufactured products. By monitoring these costs over time, you can identify and eliminate waste.

By taking advantage of our solution, you will not only be able to monitor your company’s spending habits in one area, but across the board. As a result, you will have an increased likelihood of identifying waste and finding alternative ways of meeting your needs.

Pursuing opportunities to save – especially when you are able to predict the impact of your options and avoid making decisions that will harm your business – allows managers and executives to take control. If you’re looking to increase cash flow within your company, this awareness is essential.

 

You Can Streamline Your Business and Focus on Growth

Whether you own or simply manage a small business, making sure that you have access to the right data is always important. If the company you’re involved with is in an expansion period, however, having this data is critical.

Tools like ours allow you to monitor your business on a variety of levels. It allows you to:

  • Access financial management tools. As a result, you will be able to automate financial reporting, integrate data from all departments, and know that you’re staying on top of payables and receivables so that you’re always on top of company cash flow.
  • Improve customer relationships. With CRM components included in SAP Business One, you’ll be able to evaluate relationships, identify marketing strategies that are effective, manage leads, improve customer service, and ensure repeat business.
  • Monitor storage and production environments to ensure that you have the increased product that you need – but not so much that you increase warehousing costs.
  • Create in-depth reports based on real-time information. This, of course, allows you to defend your decisions, bring others on board, and continually position the company for continuing growth.

By enabling you to manage finances, customer relationships, supplier information, and production environments, you will be able to keep your finger on the pulse of your growing company. By creating effective reports, you will find yourself in a position to track your progress and communicate goals and strategies to other members of your team.

The more that you are able to streamline processes and increase efficiency, the faster that you’ll see progress toward your business goals. We can help you access the information you need to make your vision for company expansion a reality.

How Can You Improve Your Company’s Cash Flow?

Software can be expensive. That’s part of the reason why many business, especially when the executives are looking to increase cash flow, don’t always think about the possibilities of investing in new software.

However, having the right tools can have a decidedly positive impact on any company’s cash on hand and overall bottom line. With our solution, you can take advantage of those tools that will help you grow your business – without an investment that you are unprepared to make. In other words, using we can help you evaluate your business and identify opportunities for increased cash flow won’t have a negative impact on your company’s available assets.

That’s because our solution is offered in a Software as a Service model. That means that while all of the different components work well together, businesses are able to choose the tools that they need most, stick within a budget, and know that additional resources will be available when they need them.

With us, you choose the tools that will best help you enhance your bottom line. Need to manage customer relationships? Choose the CRM component. Want to see whether or not you’re working with the best suppliers? Put the supplier relationship management (SRM) tools to work for your business and identify ways you can save. Need to keep better track of planning and timeline to avoid costly delays? The project management components can help. Need to manage your company’s finances and accounting or supply chain? We have components that can help in these areas as well. Having trouble creating reports that encourage the rest of your team to take action? There’s a component that can help with that as well.

In other words, with a software as a service solution like this, your company can focus on meeting key needs – whatever they may be – without having to worry that the tools you choose will need to be updated at a later time. With our solution, all of the tools work together – and you can access them as makes sense for you to evaluate your business, improve your decision-making process, and increase cash flow.

Growing Your Business with More Services: Adding Value

As a distributor, you continue to face a number of challenges as you strive to extend your business to gain market share. But these initiatives or additional services may not always work out or be as profitable as you’d expected.

What can you do to ensure the success of new initiatives and add to your bottom line? Implementing new processes and programs takes planning to make sure all of the pieces are in place. And you need to consider many factors—from addressing changing customer expectations to using the right technology tools, and even taking on a new role to move toward success.

First step: Join Industrial Distribution and a panel of distribution experts, including Steve Epner of Brown Smith Wallace Consulting, Dale Ohsberg of Marco Rubber, and Andy Berry of Infor, as they engage in an interactive discussion on the primary challenges distributors are encountering today. This on-demand webcast highlights some of the best practices distributors can use when they implement new initiatives to gain a competitive advantage and create additional sources of revenue.

NAED: Going Global in a Regionalized World

The future of the electrical distribution industry was the focus of this year’s NAED US Economic Forecast Panel, and we talked about some of the challenges distributors face as they look to grow globally.

When I turn on the news here in the US, it’s economic “doom and gloom.” The economic recovery that most economists believe began in 2009 still hasn’t taken hold in some industries, including residential construction (mainly in the US). But other regions of the world, such as China, are experiencing growth at a rapid pace of 9%, while the US and Europe are plodding along at 3%

What can distributors do to take advantage of these faster growing environments? You’re under pressure to expand and invest in the emerging economies. But how do you know which markets are going to be hot, and how can you capitalize on that?

If you’re looking for a starting point, invest in your sales team; arm them with newer, better technology to deliver the same experience in face-to-face meetings as their customers are familiar with in online transactions. By providing access to historical buying patterns, margins, and the hot products, you make them smarter and give them more ammo to up-sell.

When you go global, it also makes sense to leverage your existing country-level resources and partners. You need to understand the dynamics of operating in different regions (operational requirements, customs, holidays, work schedules, etc.) to enter into new markets successfully. What better way than to partner with someone who already has a foothold?

I was honored to join fellow panelists who brought their expertise in economics, sales, and marketing to the discussion. Click here to see my entire video discussion, as well as the videos from the other panelists and a recap of the conference.

Posted by Andy Berry, Vice President and General Manager, Global Distribution Business Unit, Infor