Waiting on late payments? If you’re in the Manufacturing industry, you’re probably waiting on an average of $96,409 in unpaid invoices.
The average SMB deals with about $84,000 in unpaid invoices, and manufacturing companies have more to deal with. Because cash flow is integral to production, late payments can severely cripple business health in this sector.
To help manufacturing businesses, we created the cash flow industry guide below.
- How Late Payments Mean for Manufacturing Businesses
- Limited cash flow affects operating expenses, supplies, equipment, and more
- How Manufacturers Can Collect Payments Faster
- Keep the language simple and ask for partial payments
- How Manufacturers Can Conquer Late Payments and Improve Cash Flow
- From increasing the gross margin to taking advantage of payment discounts