Blogs

When operating a successful business, understanding what impacts cash flow within your organization is key. Below are several areas to help monitor your cash flow, and provide guidance on how to fix issues over time. By considering the following, you will be able to respond to changes in a timely manner and properly plan for future expenses. Working Capital McKinsey & Company shares 1 that having some basics in place around working capital can release an unexpected amount of cash. “That’s everything from the discipline around how you pay your suppliers’ invoices on time—not too early, not too...

Modern wineries find themselves at a crossroads in 2022. On the one hand, they can stick with what they know: marketing to an aging demographic of classic wine drinkers. Or they can adapt their product strategy to include no/low-alcohol and RTD options to attract new customers. Wineries across the country could confidently call 2021 a positive year for the industry. While it wasn't groundbreaking, it wasn't detrimental either. Certainly, nobody could predict the frequency or severity of widespread food and beverage industry shutdowns in the face of the Covid-19 pandemic. Initial Covid concerns...

Unfortunately, it’s no longer a matter of “if,” but rather “when” payments fraud will impact your business. As you look at your payment strategy, does it minimize your risk to fraud? Like many businesses, your strategy may be highly focused on check payments, the most compromised payment type. Sixty-six percent of businesses said their companies experienced check fraud as part of the 2021 Association of Financial Professionals Payments Fraud and Control Report. While other payment methods have been targets, the risk significantly decreases with others; a breakdown is below. Tools and Best...

In 2022, American AgriBusiness leaders face a reefer container shortage forcing them to once more re-examine distribution logistics. What strategies can help AgriBusiness leaders navigate the reefer container shortage and maintain profits in 2022? The Covid-19 pandemic brought global trade to a standstill. While some businesses weathered the storm fairly unharmed, knowing their products were safe in storage, others—like American AgriBusinesses—wore their concerns on their sleeves. Temperature-sensitive and seasonal products would perish if they couldn't get to the shelves and eventual...

Your business probably receives daily invoices for payments. Have you considered the steps, manpower and security of your payment method? Cutting a check can take upwards of ten steps and is very unsecure, while ACH and credit card are quicker and more secure. If the latter two are used less frequently, your business is probably not maximizing your accounts payables process. By developing a solid payments strategy, both your business and your vendors will benefit. You can maximize your ability to earn revenue, improve cash flow and streamline processes with a strong payments strategy in place...