Preparing your cash flow
Spending easily adds up during the holiday season. Demands increase. You need more stock. Sometimes, you also need to hire seasonal staff. Not to mention end-of-year marketing campaigns, which can be costly. It’s essential to have absolute control over your cash flow. Our advice? Prepare a detailed cash flow plan. That way, you can anticipate cash outflows and inflows during this period. As far as possible, avoid anything that isn’t in the plan. Nevertheless, no one can escape the unexpected. We therefore recommend that you set aside a budget to deal with them without affecting your finances. Finally, take stock of your cash flow on a weekly basis. In this way, you can make any necessary changes to your program.
Study financing options
Companies sometimes need additional funds to finance increases in inventory or personnel. Especially as the risk of late payment from customers is higher during this period. Perhaps this is the case for your company? Don’t panic. There are several financing options to help you. Here are just a few:
- Cash advances ;
- Credit lines ;
- Supplier credits.
However, you need to take precautions before taking out a loan or credit. This solution can quickly become a difficult problem to manage. We can help you avoid the pitfalls of debt.
Managing your inventory
As we said, the holiday season often brings a surge in demand. So you need to increase your inventory. But be sure to remain objective. You risk accumulating a lot of unsold merchandise if you have too much stock. On the contrary, you could lose sales if you have too little. Make a thorough analysis of previous years’ sales. Then you’ll be able to determine the percentage increase in your inventory you need to plan for. And don’t forget to study current trends to find out which products will sell best.
Preparing for peak demand
Good management of peak demand satisfies customers. For this reason, factor into your end-of-year budget the costs of seasonal wages. We also advise you to optimize your website to accommodate the maximum number of orders without problems. And make sure your deliveries are prompt.
To conclude
We know that the stakes are high for companies during the holiday season. That’s why we’re here to help you reduce your stress. Because you too deserve peace and quiet during this season. So don’t hesitate to contact us.
