With DSO’s increasing for many distributors and the need to maintain, and improve profitability becoming more important in a slowing market, distributors are examining their invoicing processes to identify opportunities to reduce their DSO’s, improve cash flow and offer a new service to their customers.
Earlier today we shared recent end-user research, sponsored by Billtrust, on this topic to over 50 distributors. Just the number of interested parties tells us that the trend is growing (and over 50 are already registered for an October 11 encore presentation – register here if you are interested).
Additional information is detailed in the white paper that we’ve written. You can download it here.
Reducing costs and improving productivity will be key drivers to maintaining and improving distributor net profits over the next couple of years (along with targeted sales and marketing strategies). Migrating your customer base to less expensive, more timely and efficient invoicing methods can help improve cash flow.
Are you utilizing multiple invoicing methods? What strategies are you using to reduce the cost of your accounting and collection departments?
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