With BizPay, buyers and sellers no longer have to worry about the payment schedule. — VNS Photo Debt and capital management is always a problem for enterprises in supply chains. VPBank’s upcoming BizPay product is promising to be a breakthrough solution to solve this issue. The market has seen the launch and integration of several new business models together with the continuous development of the economy. The chain business model has seen booming development and is becoming a popular trend, especially in retail and food services. However, in addition to strong development, the market has seen the collapse of many brand names or those narrowing their scale. According to experts, the biggest reasons for failure of the chain-based business model are in operational management and financial difficulties. H.A, a director from a cattle feed manufacturing company having some 30 agents at different levels said in addition to controlling product quality and employees, his company is having trouble managing debts as each agent has a different payment term. “I have to appoint staff to manage the debt and remind managers at stores to pay monthly debts when the payment is due. In addition, I also need 3 more accountants to control debts and synchronise data in the company’s system because there are many collections and spending,” he said. He added that in addition to complicated debt management work, his company has also faced financial difficulties as agents are often in debt of their goods due to specific characteristics of animal feed… [Read full story]
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