Tag: Best Practices

Cash flow is the backbone of every business. Supply chain financing is just one tool available to companies to get paid faster in a volatile economy.

The need for talented collectors has never been greater as economic challenges weigh on the cashflow of businesses. In order for your collections team to get the best results, they need to be assigned workload in a way that makes the most sense for your company. That way one collector does not become overwhelmed and unable to complete their daily tasks.

Over the past year, development has finally gotten the attention it deserves. As it turns out, development is both a driver of attrition and incentive for recruitment. So, whether they’re coming or going, employees prioritize opportunities for growth—and leaders committed to cultivating robust and stable staffs must prioritize it too.

When lending to construction contractors, credit professionals should carefully review financial performance and cash flow. The main concerns of bankers are within areas related to how contracts are managed and how contractors expand their businesses. If suppliers who sell to construction companies are unable to receive the materials needed, it can delay projects and bolster costs. But with major shifts in the economy, such as high inflation rates, the delays in the supply chain have caused gross profits of contractors to decline 12%, said Dev Strischek, principal of Devon Risk Advisory Gro…