Welcome to our round-up of the “too good to miss” blogs of 2023!
As we gear up for another year packed with new approaches and shifting strategies, revisiting last year’s standout articles is a goldmine waiting to be explored.
These top blogs weren’t just popular; they were a reflection of what mattered most to us in the corporate landscape last year. They’re not just words on a page; they’re a snapshot of our industry’s heartbeat, capturing the trends, innovations, and vital conversations that steered our decisions and progress.
Below, are our top 8 blogs of 2023, that we think are worth another read before we dive into 2024.
1. Why Would Trade Payables Decrease?
Understanding the impact of Dynamic Discounting, was a key subject for the b2b industry in learning how to better utilise money owed. This particular blog delves into the factors influencing a drop in trade payables, spotlighting exactly what dynamic discounting’s role would be in this.
Trade payables are essential obligations to suppliers. This question, and blog, outline two main drivers of decrease: timely payments and negotiated terms like dynamic discounting. The piece emphasizes how dynamic discounting optimises early payment discounts, reducing payables, strengthening supplier relationships, and enhancing overall financial health for businesses striving for stable financial profiles.
2. Unlocking Success: What Makes A Supply Agreement Effective?
Exploring the foundational elements of an impactful supply agreement, the blog ‘What makes a supply agreement effective’ sheds light on what distinguishes a robust contract. It emphasizes clarity in language, precise definitions, detailed terms, and mutual alignment of interests as fundamental. Additionally, it underlines adaptability, compliance, continuous communication, and the role of technology, specifically highlighting PEPPOL Access Point, as pivotal components. The piece concludes that a well-crafted supply agreement isn’t just legal jargon; it’s a strategic roadmap fostering successful partnerships and propelling businesses towards growth and success.
3. Manual Processing: Are You Still Using It In Your Business?
The examination of manual processing allows us to look into into the persisting reliance on manual processing despite the age of automation. Based on a LinkedIn poll in 2023, it reveals that 50% of businesses still use manual methods, 33% plan to transition to automation soon, while 17% are fully automated. The findings showcase varying stages of digital transformation journeys, highlighting factors influencing choices like workflow uniqueness, cost, and the need for human intervention. Businesses leaning towards automation prioritise efficiency, cost savings, and adaptability to stay competitive in a digital landscape.
4. 5 Order Management Challenges You Need To Address
5 Order Management Challenges You Need To Address‘ sheds light on often-overlooked hurdles in order management impacting operational efficiency and customer satisfaction. It highlights five key challenges: manual data entry, lack of visibility, inefficiency and delays, error-prone processes, and scalability issues. These obstacles, ranging from data entry errors to scalability concerns as businesses grow, can harm reputation and finances. The article emphasizes the importance of acknowledging these challenges as the initial step toward more effective order management and hints at forthcoming insights into technological solutions.
5. Improving Customer Experience With Sales Order Automation
The blog highlights the pivotal role of automation in enhancing customer experience and service. It begins by emphasizing the critical need for automation in order processing, revealing that businesses lose 30% of potential sales due to inefficient order processing. It explores Sales Order Automation’s transformative power, emphasizing its impact on operational efficiency and elevated customer experiences. Five key ways are outlined: precision and accuracy, speed and efficiency, real-time insights, elevated customer service, and scalability. The piece underscores that Sales Order Automation isn’t just about efficiency. It’s about delivering exceptional service while scaling operations for growth in a fiercely competitive market.
6. What Is Dynamic Discounting?
We explore the key topic of Dynamic Discounting, emphasizing its role in optimising cash flow and transforming payment processes. It addresses the staggering impact of late payments on businesses, highlighting how Dynamic Discounting serves as a tool to negotiate early payment discounts and foster healthier trading relationships. The blog delineates the basics of Dynamic Discounting, detailing its operation for both buyers and suppliers. It outlines the advantages compared to traditional discounting, showcasing its flexibility, real-time communication, and automated processing. Ultimately, it portrays Dynamic Discounting as a win-win solution benefiting both buyers and suppliers by enhancing cash flow, streamlining operations, and strengthening relationships.
7. How Does Dynamic Discounting Work?
Following on from what is Dynamic Discounting, we begin to understand how it works for businesses. The blog ‘How Does Dynamic Discounting Work?‘ delves into the operational process of Dynamic Discounting, elucidating its workflow from invoice submission to payment processing for both buyers and suppliers. It underscores the significance of optimising cash flow and how Dynamic Discounting serves as a solution to address cash flow gaps by offering or receiving early payment discounts. The piece explains the step-by-step process, illustrating how buyers initiate discount offers, suppliers accept or decline them, and the subsequent payment processing. Additionally, it highlights the key components of Dynamic Discounting. This includes the invoicing platform and discount calculation. All of which collaborate to streamline the invoicing-to-payment process, resulting in improved cash flow, strengthened relationships, cost savings, and operational efficiency for both parties.
8. 7 Factors To Consider When Selecting A PEPPOL Access Point Provider
Finally, the ‘7 Factors When Selecting a PEPPOL Access Point Provider‘ blog highlights key considerations for businesses looking to join PEPPOL, a transformative e-invoicing network. It outlines seven crucial factors to weigh when choosing a PEPPOL access point provider. These include certification, connection options, service offerings, service levels, international capabilities, security, and technical expertise. Emphasizing PEPPOL’s growing importance in modern procurement and its role in reducing face-to-face interactions, the blog underscores the need for businesses to choose the right access point provider to optimise e-invoicing benefits
Conclusion
As we step into 2024, reflecting on the invaluable insights from these 8 blogs becomes a cornerstone for businesses aiming to leverage cutting-edge solutions for growth. Each piece served as a beacon, illuminating the path toward efficiency, streamlined processes, and enhanced customer experiences.
The learning journey of 2023 encapsulated the transformative power of technologies like Sales Order Automation, Dynamic Discounting, and PEPPOL Access Points. These blogs detailed not just the tools but also the critical considerations and nuanced facets pivotal in their effective adoption.
For those embarking on a similar journey, these blogs serve as pillars of knowledge. Following our blogs or social media accounts ensures a continued learning experience, where these foundational learnings become a springboard for further growth. Here’s to a new year of learning, growth, and utilising these indispensable lessons from our 2023 blogs for a thriving 2024. Happy New Year!