Simple and Easy Ways to Improve Business Cash Flow
Can you quickly identify ways to increase profits, reduce expenses and generate cash flow in your manufacturing or wholesale distribution business? If not, you may find comfort in knowing that many business owners and managers have difficulty answering this question. Here are a few ideas to help increase cash flow:
- Look into sales activities to discover which customers frequently purchase your products and/or services. Consider creating a loyalty program to reward your loyal customers. Review which marketing programs are most effective and eliminate inefficient campaigns. Identify which demographic has the greatest opportunity for the most growth and create sales and marketing activities to attract those potential customers.
- Determine which inventory items are not selling, production lines that are not efficient, and assess all of your warehouse options. Then create a strategy to improve production and related processes.
- Evaluate purchasing decisions and supplier relationships to consider areas for savings. You may consider renegotiating sales terms, evaluating suppliers, or changing minimum or maximum purchasing level requirements.
- Eliminate unnecessary and time consuming meetings by providing your team with access to the business data they need. Consider providing your C-Level staff with access to real-time data analysis tools.
- Reduce operations expenses by evaluating the tasks performed by key personnel. If your top revenue generators are wasting valuable time on work that could be performed by others on staff, consider prioritizing time consuming tasks.
SAP Gold Business Partner-Reseller | Providing SAP Business One Software, Tech Support and Related Services to Small and Midsize Manufacturers and Wholesale Distributors for More Than Thirty Years
Based in Tampa, FL, Cornerstone Consulting, Inc. is a business consulting and information technology (IT) company. Not only is Cornerstone an award-winning value added reseller (VAR) of extremely efficient and integrated business (accounting, customer and sales management (CRM), inventory tracking-control-management, warehouse management, materials requirement planning (MRP), light manufacturing, accurate real-time analytical reports, and more) software systems, our highly-skilled team specializes in cutting-edge solutions and tech support for:
- SAP Business One ERP
- Electronic and Mobile Commerce
- Enterprise Mobility
- Bar codes and Scanning
- Business Intelligence (BI)
- Business Analytics
- Databases (SAP HANA)
- Cloud Computing
- Custom Programming
- Web Development
Simple and Easy Ways to Improve the Cash Flow of Your Growing Small or Midsize Business
Cornerstone provides software products, tech services and business process outsourcing which support all areas of a small or medium sized business, such as: financial accounting, operations, customer relationship management, sales, inventory control-tracking-management, warehouse management, e-commerce, and more. Cornerstone’s “dream team” of programmers, trainers and consultants specialize in providing our Manufacturing, Wholesale Distribution, Medical Device, Pharmaceutical, Nutraceutical, and Online Retail clients with optimal business process configuration, integration and automation.
If you’d like your small or medium enterprise (SME) to run better, out-maneuver competitors, improve interactions with each customer, have better solutions for finding new customers, and transform your business with the latest in technology, you’ve definitely found the right team to collaborate with and make it happen.
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For answers to your SAP software sales, support, and service questions, Contact Cornerstone Consulting today. Looking forward to connecting with you!