Blogs

Wondering what your aging accounts receivable report can reveal? Uncover five pivotal insights to gain a deeper understanding of your financial landscape. Before we dive into how you can use your aging AR report, let’s establish what it is and what it can tell you about your company. An aging accounts receivable report is a business report that shows customer payment status against current invoices. As a management tool, it’ll tell you when specific customers become credit risks and if your company should continue the relationship. The typical AR report has columns broken into 30-day segments...

Since the Covid-19 pandemic, we’ve witnessed a revitalization in American industrial policy. The economic ripples of the pandemic highlighted the precarious nature of long-spread supply chains and outsourced labor; now having internalized these lessons, many firms are re- or nearshoring their operations instead. Accordingly, experts may believe US manufacturing is poised for growth in the coming years as jobs come back home. But the post-pandemic era isn’t the only thing paving the way toward growth. Advancements in artificial intelligence (AI) and automation technology have allowed...

Streamlining payments involves refining the management of money flowing in and out of your business. It could include reassessing your payment strategy or even upgrading your treasury management solutions. When done effectively, optimizing your payment processes may improve customer experiences, enhance security, optimize cash flow, and reduce costs. This guide walks you through how to optimize your payment processes, beginning with assessing your current system. We also look at ways you can spot financial inefficiencies in your operations. Finally, we provide an overview of how you can...

Manufacturing technology is quickly elevating through notable advancements in artificial intelligence (AI) and Internet of Things (IoT) devices and services. For manufacturers, the coming year may be indelibly marked by the futuristic changes these advanced technologies bring. Yet the question for manufacturing leaders is more practical: Is investing in new technologies worth it? One recent survey calls the potential value extracted from new manufacturing technology into question: 88% of companies that integrated new technology say that achieving measurable value from their investment is...

Going green has the potential to be a wise business decision for the manufacturing industry. In fact, it seems many manufacturers are making the jump to more sustainable processes and business operations. Traditional manufacturing processes are based on a linear model of consumption—that is, finite energy resources are consumed during the production process and many products are often discarded. But as concern grows regarding these finite resources and as costs go up, pivoting to green manufacturing is one way businesses can preserve these resources and keep costs down. Resources aside, we’ve...