How Business Intelligence Can Improve Cash Flow For Your Small Business

Posted by flabastida under Resources
From http://community.bitam.com 5308 days ago

Two hard-hitting quick, out-of-the-gate steps CEOs or business owners can take today to improve cash flow using a Software-as-a-service Business Intelligence system.

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Written by ShawnHessinger
5308 days ago

Two pretty simple pieces of advice but effective all the same. I'd enlarge on both these points by adding that you should try as often as possible to get money up front reducing collections problems and that you should try to shift as much of your business away from having large inventory as possible. This means more than just trying to move more product. It means where possible get orders in full before even purchasing your product from suppliers (think drop shopping as one example of this) or even before they are created (think anything from new software you're selling its still being designed or print on demand books and other products.) By the way, focusing on services first and then breaking into products is another way of keeping inventory (and upfront manufacturing costs) low.

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Written by flabastida
5307 days ago

Great additional advice Shawn, and thanks for commenting!

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