Client Overview: A small e-commerce business selling handmade jewelry and accessories online.
Challenge: The business owner faced challenges in keeping track of numerous invoices from suppliers and managing payments, leading to missed payments and strained supplier relationships.
Solution:
- Set up an invoicing system to organize and track supplier invoices and payments.
- Implemented automated reminders for upcoming and overdue payments to suppliers.
- Integrated the invoicing system with accounting software to streamline financial management.
- Provided training on best practices for managing supplier relationships and maintaining accurate records.
Results:
- Improved organization and tracking of supplier invoices, ensuring timely payments.
- Strengthened relationships with suppliers through consistent and reliable payments.
- Reduced the risk of missed payments and associated late fees.
- Enhanced overall financial management and efficiency in handling supplier transactions.