08/30/2023
"Every business transaction is one long conversation," Joe Woodard of Woodard Institute told our team last week.
The following are some of the continuous conversations that are taking place either internally within the company or between the vendor and customer;
-It starts with the back-and-forth on price (PO) negotiation,
-status, shipping, and tracking,
-invoicing and billing,
-receiving and dispute resolutions,
-collections and renegotiating payment terms,
-preparing the payment,
-processing or sending the payment,
-receiving and entering the payment,
-closing the correct invoices,
-reconciling the bank feeds and closing it is a whole other discussion.
Every line is a part of one long conversation; however, in isolation, it is missing all the context, yet there's no single point to maintain these communications in context, which is a nightmare to keep track of and understand who did what, when, and why.
We would love to learn how you feel about this issue.
Please comment below with your thoughts or DM me.
