Franchise businesses deal with many suppliers and customers each day. Whether the day involves ordering stock, moving inventory or sending invoices, there are a range of challenges and inefficiencies that can arise along the way.

eInvoicing has transformed how businesses send and receive invoices. It automates the exchange of invoice information directly between a supplier’s and a customer’s accounting software.

For years we’ve known that inclusion and diversity (I&D) in the workplace can have a positive impact on teams and performance. Now, studies are showing that companies with traditional hiring models could lose out on more than just talented candidates.

For businesses built in the cloud, pivoting, scaling and expanding to new countries can be achieved at a very low cost. These companies also implement some of the latest systems and processes in payments technology — think instant payments, secure payment networks and the ability for customers to choose from a range of options in how and when they pay.

Wholesale and supply businesses rely on great relationships with their business customers. Not only is this the lifeblood of their business, but providing a great experience for current customers ensures suppliers are referred to other great businesses in their customer’s networks as well.

Late payments aren’t new to Australian businesses. For many businesses, having almost $40,000 in outstanding invoices is the reality of operating, but it doesn’t have to be the case.

Business automation has been a growing trend in recent years as companies seek to realise efficiencies and make improvements across a range of systems and processes.

As technology develops, the innovations in B2B payments also continue to evolve. Access to alternative finance channels is giving businesses the cash flow they need to grow and operate with ease, and new B2B finance options are paving the way to help boost cash flow across the supply chain.

As businesses weathered what was hopefully the height of the COVID-19 pandemic last year, economic policy was relatively accomodating with central banks expanding their balance sheets rapidly.

Franchise head offices have a significant impact on the strength of the entire franchise group. To ensure everything is operating at its best and most profitable, franchise head offices need to look at their payment tools and systems.

One of the main changes businesses have adopted since the start of the COVID-19 pandemic is a faster move to contactless and cashless payments.

Late payments are an ongoing problem for Australian businesses. If you’re a business owner, you’ve probably seen the statistics and felt the effects of these in your own business.