We have all lived through unprecedented history in the last three months. However the lockdown is starting to ease. Many shops and businesses are still closed, and lots of people continue to be furloughed and unfortunately some people are now being made redundant. Some shops and businesses will be open in the next few months albeit with social distancing measures firmly in place. The days of a shop heaving with eager customers may be gone for the near future at least.
In the last few weeks, we have spoken to many businesses who long for the stability of getting back to normal. They say a rising tide floats all boats, however what is interesting in speaking to these businesses is that those who are being more agile in their thought processes and have actually acted on those thoughts are likely to come out of the pandemic with healthier, leaner businesses and therefore set themselves up for greatness as their new normal is exactly where they are right now.
Many businesses with cash reserves are worried about losing trusted suppliers who are working hard in difficult circumstances to deliver the same quality goods or services. It is these relationships that have been tried and tested which really keep the world turning and it is these suppliers who are difficult to replace if lost.
What is apparent is that many businesses are trying to maximise liquidity and are looking at new ways of generating income. Ways to hold on to cash for longer and opportunities to maximise returns on cash have never been more important to keep liquidity in an organisation so that prosperity and growth isn’t hampered along with being able to support the supply chain. bePayd can help businesses with working capital optimisation and streamlining of processes.
Are we in the new normal yet? If normal is pushing the boundaries, finding ways to streamline, become more efficient, increase sales and the bottom line, then yes, we are in the new normal.
Find out more on how bePayd is helping businesses generate income whilst paying their suppliers earlier : www.bepayd.com or for a demonstration email hello@bepayd.com