New year, new goals? Here’s how to get your business ready for 2022

With the year coming to an end, you’ve most likely started thinking about your business goals for 2022. No matter what these goals are, having the right systems in place to realise operational efficiencies, get paid faster and strengthen your cash flow will set you up for success next year. Keep reading to learn how to get your business ready for 2022.

Invest in the right systems

While having a strong business strategy is important, without the right systems and processes, you won’t have the efficient day-to-day management you need to achieve your goals. For many businesses, the last two years have been a time of rapid change.

According to McKinsey, company executives reported moving 20 to 25 times faster than they expected on changes such as addressing supply chain issues and introducing advanced technologies to improve operations. If your business hasn’t done so already, investing in the right systems and tools to help you thrive will play an important role in future growth.

Business tools that will help you grow in 2022

For any business, there are applications that make managing systems and processes easier. Not only does better systems management result in operational efficiencies, but it has other positive impacts such as stronger cash flow.

Below, is a handy checklist that outlines key areas that your business can transform to help you work smarter and grow faster.

Get paid faster and boost your cash flow.

Update your payment systems to enable faster payments, while delivering a frictionless experience to your customers.

Solutions such as Spenda’s payments and lending services will help you pay your expenses and accelerate growth.

Payments

Get paid faster and boost your cash flow.

Update your payment systems to enable faster payments, while delivering a frictionless experience to your customers.

Solutions such as Spenda’s payments and lending services will help you pay your expenses and accelerate growth.

Our supplier payment services include solutions such as:

• Buyer Finance: You get paid in full and on time while your customer benefits from extended payment terms and deals directly with a third-party finance provider, like Spenda, to pay their invoices.
• Pay now, pay later widget: An easy to install payment widget for your website that allows buyers to pay now or choose a B2B pay later option.
• Accounts receivable management: Give your business customers access to a dedicated portal where they can track, group, and batch-pay all of their outstanding invoices in one place. Send automated reminders and get paid faster.

Retailers and service providers can benefit from:

• Pay Invoice by Link: An easy and secure way for customers to pay via a link. You simply email the link, and your customer makes payment.
• Quote to Pay: Turn quotes into invoices quickly by connecting a Pay Invoice By Link service to your business.
• Portable Payments Terminals: Process sales anytime, anywhere and save thousands of dollars every year by on-charging your merchant fees directly to your customers.

Warehouse management

Optimise your warehouses and gain better visibility across multiple warehouses in real-time.

Implement modern systems that automatically update your inventory across your business locations in real-time.

With a smart warehouse management system, you can streamline how your business manages and moves inventory in real-time. With the right tools in place, your data will be automatically updated every time a sale, refund or stock transfer occurs.

Order fulfilment

Deliver a better pick, pack and ship structure.

Collaborate on orders with customers and improve the way your business tracks sales, stock and fulfilment.

Benefit from one central order and price management hub where you can better track sales, payments, stock and fulfilment. Ensure all processes and people in-between, including your team members and customers, are kept informed and up-to-date at each step of the order fulfilment and delivery process.

eCommerce

Sell better online, reach more customers and deliver a smooth customer experience.

Grow your business by giving your customers a more convenient way to shop, and integrate smarter and frictionless payments that improve the checkout experience.

• Whether you have well-established online channels, or your business is new to eCommerce, choosing the right system will set you up for success. Key things you should consider when you’re setting up or improving your eCommerce channels include:
• Providing a range of payment options
• Tools and systems to track inventory in real-time
• Integration with your accounting and finance systems for faster reconciliation and reporting

Point of Sale

Make a sale anytime, from anywhere.

Process sales faster, take payments instantly, make it easy for employees to find what they need, and benefit from seamless financial integration and more accurate reporting.

Process sales faster, make it easy for employees to find what they need and integrate your point-of-sale (POS) system with your accounting and ERP software.

Further, with in-built innovative features, like Spenda’s virtual payment terminal and coupled with a Pay Invoice By Link feature, you’ll be able to provide your customers with payment flexibility and have the mobility to take payments anywhere, anytime. Better still, your business can take payments even if your EFTPOS terminal isn’t working.

Service management

Streamline your bookings.

Automate how your team and customers book and change appointments, and streamline the process from service delivery to payment.

Reduce administrative pain points and improve your business’s cash flow. With a cloud-based service management solution, you can seamlessly book, update and track jobs, and instantly process payments when a job is completed.

Purchasing

Simplify and automate your procurement process.

Place orders on the go, get low stock reminders and always have the right amount of stock on hand to meet customer demand.

Digitise your procurement process and enjoy faster and more accurate ordering. Enjoy the peace of mind that comes with an automated data-driven system that knows what your business needs based on past sales activity.

Spenda’s “suggest what I need to buy” feature will help you save time by notifying you when your pre-set min/max settings are reached, meaning you’ll always have enough of the right amount of stock on-hand to meet consumer demand.

Grow your business in 2022 with Spenda

Spenda helps businesses to adapt and upgrade their operations quickly, get paid faster and boost cash flow. Whether you’re looking to provide more payment options, reduce checkout friction, or grow your business with stronger eCommerce channels, we’ll work with you to build a tech stack that will help you achieve your unique goals.

Keen to see Spenda in action? Book a free demo with one of our payment experts today.