One of my absolute favorites on the list of eCommerce Benefits: No Receivables!
Well, truth be told, trying to pick a favorite eCommerce benefit is like trying to pick a favorite child.
However, can you imagine a life with NO receivables?
Sounds like heaven, right?
I am pretty sure I would still have hair if I had never carried receivables while in my 20’s. URGH!
For example, I vividly recall many nights praying that a customer check would arrive in the mail the next day…..just to cover payroll for that week.
Though it is too late for me, I implore you to take full advantage of eCommerce Benefits available to you.
If for nothing else, simply to prevent your hair from falling out.
Related Article: eCommerce Checklist: Manufacturing eCommerce Strategies
eCommerce Benefits Cash Flow: You are paid BEFORE the product leaves your facility
Time equals money. Money equals time.
Well, can you imagine being paid before the product goes out the door?
An eCommerce store offers that exact opportunity.
For example, a customer purchases your product on your website and PAYS for it at checkout.
You haven’t even shipped it yet.
As a manufacturer, there is a chance you haven’t even produced it yet at this point.
Just-in-time is certainly alive and well with Manufacturing eCommerce Strategies.
Thus, a positive cash flow opportunity.
Cash is King!
Positive cash flow creates tremendous opportunities as well as opens many doors.
You already have an abundance of challenges with running your business.
Lots of Stress.
Employee issues. Sales quotas. Marketing. Vendor relationships. Taxes. Health insurance. All other insurances for that matter. Liability claims. Safety. Quality. The list goes on.
Thus, just think if you could eliminate one hassle, receivables.
This was a constant dream of mine and eCommerce answered those dreams.
Positive cash flow certainly provides peace of mind.
No dreaded collection phone calls to the customer.
No emails begging for money.
Implementing eCommerce also eliminates contacting your attorney to start the collection process.
It is said that money ruins friendships.
Well, money ruins vendor/customer relationships quickly.
You think that a customer is a friend until they stop paying you.
On the other hand, for an experiment, stop paying a vendor that you consider a close friend.
See how fast that relationship sours.
Always knowing that you are going to be paid for a job creates thriving business relationships.
Go ahead and give it a try.
See if eCommerce can answer those “No receivables” dreams for your company.
Related Article: Eliminate the Cumbersome RFQ Process with eCommerce
Wrapping It Up
Lastly, for additional information on Falconer Electronics, please click these helpful links:
Also, to learn about Wire Harness Assemblies please click below:
- Instant Wire Harness Estimate
- Wire Harness Manufacturing Terms, Tools, and Tips of the Trade
- Wiring Harness Assembly: The Official Resource Guide