The Three Steps to Create an Effective Cash Flow Forecast
Cash flow forecasting is a key management tool to start, operate, and expand your business. Every plan won’t be able to go ahead if you don’t have cash that will pay your bills or keep your operations going. Cash flow is essential for getting the most out of your operations with Australian businesses missing out […]
Finance Tips to Prepare Your Business For The Holiday Season and Beyond
Preparing for the holiday season is a challenging task for businesses. There are seasonal fluctuations, extended hours, and increasing activity that can make cash flow management more difficult. If you find this situation stressful, you are not alone. Many SMEs experience this, so owners need to devise a better plan to manage their cash flow […]
Advantages of Using Debtor Finance for SMEs
Video Transcript Hi, Angus Sedgwick here from OptiPay here. As we move into the holiday season, many businesses close down for several weeks, which means the importance of managing your cash flow becomes even more critical during this holiday period. So in today’s video, we’re going to look at the six key reasons why […]
Tips to Support Your Mental Health as a Business Owner
With long hours of work, business owners are prone to stress. When stress is prolonged, it can contribute to the development of depression or anxiety or may worsen an existing condition. This can take a toll on a person’s mental health, especially since the pandemic has changed most routines and operations. Be proactive in looking […]
How to Improve Inventory Management to Support Sustainable Business Growth
Every business needs to track the lifecycle of their products and services to support business growth. Inventory management is the process of sourcing, storing, and selling inventory, whether it is raw materials, goods in production, or the final products to be on-sold to the end-user. Holding inventory costs money, such as the cost of storage […]
What is DSO?
Video Transcript Hi, Angus Sedgwick from OptiPay here and in today’s video we’re going to look at DSO, what it is and why it’s an important metric to understand within your business. So what is DSO? DSO or Days Sales Outstanding also known as Debtor days, is a measure of how quickly you get […]
Critical Signs Your Business May Have Issues with Cash Flow
As a business owner, you will know that good cash flow is essential to keep your business growing. Leaving potential cash flow problems unaddressed today can cause a disaster for your business down the road as you struggle to come up with the funds to expand, or at worst case, are unable to pay your […]
Six Finance Tips to Help Make Your SME Successful
Financial stability is crucial for every business, particularly for up and coming small to medium businesses (SMEs). Having your own solid financial understanding is essential to make sure that you are managing your company well. You can ask experts for help, but having sufficient knowledge of your own is important for any business to prosper […]
The Importance of Cash Flow – Why Revenue and Profits Aren’t Everything
One of the most important things when running a small to medium business (SME) is understanding your finances. Cash flow, profit, and revenue are all vital for long-term success, but knowing their differences can help you focus on what is actually the most important. As a business owner or entrepreneur, you might (understandably) be attracted […]
Smart Methods to Grow Your Manufacturing Business
Maintaining a consistent profit across your business is already challenging, let alone the difficulties that arise from growing and upscaling your operations. As you respond to the market’s increasing demand, you must innovate to increase revenue and support the increased size and base of your footprint. Grow your business to expand your expertise, survive and […]