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Late payments expose your business to significant financial risk. According to data from the Australia Financial Security Authority (AFSA), people recently entering personal insolvency owe 32 per cent of their debts to a business, sole trader or individual, while 35 per cent is owed to banks. With trade credit almost as high as bank debt, it’s an important reminder of the risk to businesses when they provide goods and services on credit.

To create efficiency in B2B transactions, a buyer’s accounts payable and the seller’s accounts receivable teams should connect to ensure invoices are issued properly, and payment times and amounts are correctly adhered to.

Ensuring your cash flow is strong can be a challenge for any business, especially when you don’t have integrated systems that give you a real-time view of your finances. Spenda’s seamless integration for MYOB provides real-time transaction updates, reduces manual data entry burdens, and delivers more efficient reconciliation and reporting processes, so you can keep track of your business’s finances anywhere, anytime.

Automated solutions deliver a range of efficiencies to businesses. Whether your business is looking to make financial reporting faster, eliminate tedious procurement processes, or make payments faster and easier, technology that automates business workflows is a must-have for every business. In this post, you will learn how to unlock business efficiencies with automation.

Late payments are one of the most difficult things to deal with as a business owner. Not only is it an administrative burden to chase overdue invoices, but the resulting cash flow challenges can impact your business’s stability.

As technology develops, businesses have ever-growing opportunities to realise new efficiencies, improve their systems and processes, and grow.

Cirralto has signed a binding agreement with Australian Agri Finance (AAF) and its parent company In Front Australian Business Solutions Pty Ltd (In Front) to deliver farm enhancement lending and input financing.

With COVID-19 continuing to impact our personal and professional lives, for businesses, 2021 was another opportunistic year which meant that in order to stay ahead of the curve, businesses needed to remain agile and adapt quickly to changing consumer behaviours and payment trends.

A point of sale system, more commonly referred to as POS, is a system that allows businesses to perform transactions such as a sale, return or exchange of goods and services.

Your business likely deals with a high volume of B2B payments, and if you’re providing goods predominantly on trade credit.

Chasing up late payments is something business owners and their finance and accounting teams spend a lot of time doing.

The payment processing industry has progressed rapidly in recent years, particularly for business to consumer (B2C) transactions. Platforms that offer integrated payment technologies for businesses to business (B2B) transactions are also becoming more widely adopted, allowing businesses to accept online payments and transform the way in which they trade.