Inside Waddle

4 questions to ask before you renew your Invoice Finance contract.

Posted by Nick on 20-Sep-2018 10:45:00
4 questions to ask before you renew your Invoice Finance contract.

Business owners are often locked-in to unsuitable, mismatched finance products, so before you renew your existing contract, you should ask the following questions.

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Topics: Contract Finance, Invoice Finance, Waddle Tips

Waddle Supports Fine Foods

Posted by Paul on 19-Sep-2018 16:41:00
Waddle Supports Fine Foods

It was a great trip down to Melbourne for the Waddle team last week.

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Topics: Invoice Finance, Waddle Tips

Slow Paying Debtors? Here's 7 tips to help.

Posted by Jorja Creighton on 10-Jan-2018 14:10:04
Slow Paying Debtors? Here's 7 tips to help.

Slow paying debtors, the misery of every business owner at some point. Payment terms are not being met, receivables blow out and the money that could so usefully be put back in the business is just sitting tickling their fancy. Torture.

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Topics: debtor finance, Invoice Payments, Late Payments, Waddle Tips

21 Hidden Invoice Factoring Costs Your Business Needs to Know

Posted by Team Waddle on 08-Aug-2017 16:55:49
21 Hidden Invoice Factoring Costs Your Business Needs to Know

Selling goods or services means you’ll end up providing terms if you intend on growing.

Unless you’re cashed up or have the modern invoice financing alternative in place, you’ll need to bridge shortfalls between paying wages and suppliers.

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Topics: Invoice Factoring, Waddle Tips

Why The Loan Stacking "Rabbit Hole" Is Hurting Your Business

Posted by Team Waddle on 12-Dec-2016 15:29:39

Once you’ve secured your first business loan, depending on your growth cycle, is it worth taking on another loan? i.e. “Loan Stacking”

Do you need to evaluate the real commercial benefit from taking on further funds with additional costs?

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Topics: Invoice Finance, unsecured business loans, Waddle Tips

Cloud Accounting - Is My Device Compatible?

Posted by Team Waddle on 20-Nov-2016 15:23:44

Cloud Accounting software is fast becoming a staple in the business world, with a myriad of new features that help your business to grow and adapt in the digital age.

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Topics: Waddle Tips

Is Kanban Or Scrum The Best Method For Your Business?

Posted by Team Waddle on 17-Nov-2016 14:00:08
Is Kanban Or Scrum The Best Method For Your Business?

Scrum or Kanban? What are these foreign words and how can you mould these techniques for use in your business?

Believe it or not, it's highly likely you're using at least one, if not more of the techniques used within Scrum or Kanban. Even teams that use Scrum also use Kanban to visualize processes and project manage.

When deciding between Kanban or Scrum, the individual distinction doesn’t have to be made because Kanban and Scrum can go hand-in-hand in almost all cases for a business that has decided work within the guidelines of an agile environment. If you are a business owner and are not involved in software development, then Kanban would be the ideal choice in almost all cases.

A quick look at Scrum

Scrum divides up a project into short “sprints,” ranging from a couple of days, weeks to no more than a month (rare), and each sprint has a concrete output or “increment” to achieve before the next sprint can begin. Each increment is complete in itself and can be used in its right. This means no time is wasted backtracking to fix issues after the whole project is complete because the team or customer sees and approves each increment as it grows toward the end goal. During each sprint, the team uses very short daily meetings, charts, and backlogs to keep them organized and on point.

A quick look at Kanban

Kanban is used primarily as a visual project management tool. Kanban’s primary mechanism for improving the flow of work is the Work-in-Process Limit. You set a policy for the team, saying that we’ll limit how much work gets started, but not finished, at any one time. When the board starts to fill up with to much work that remains unfinished, team members re-direct their attention and collaborate to help get some of the work finally finished or prioritize work and remove work from the board that is not the high priority, before starting any more new work.

You might be starting to grasp that you can use Kanban to manage the overall projects and utilize Scrum to get the individual task completed efficiently and on time before moving projects along in the cycle.

Kanban boards

The greatest management tool within Kanban is the Kanban board, The work of all kanban teams revolves around a Kanban board, a tool used to visualize work and optimize the flow of the work among the team. While physical boards are popular among some teams, virtual boards are also hugely popular.

On a Kanban board or wall lies the Kanban cards which serve as visual signals that separate work. Each card can move along as work is completed and are assigned to individual people within the team to bring transparency to completion of tasks and allow other team members to offer assistance to finish tasks or remove roadblocks preventing another team member from completing.

I am doing Kanban; I must be Agile! Hmm Probably not.

The initial concepts behind Kanban come from the world of Lean Manufacturing as a way of doing something called “Just-in-Time” production. It was developed by Toyota (Kanban is Japanese for “Visual Card”) in the 1950s. Agile was developed by software developers to deliver projects on time, with Kanban not unique to Agile software development as it primarily has longer cycles and would not suite software development teams that need to respond to immediate changes.

Kanban could be adapted to anything within your business that has a process or workflow involved. Kanban itself is a process improvement approach, not really a process of its own. It’s something you apply to an existing process, like Scrum, or whichever your current process happens to be.

Kanban vs. Scrum

Kanban is not Scrum, and there are several distinctions between Kanban and Scrum, though they are both work methods. Kanban is a visual management method that was developed by Hirotaka Takeuchi and Ikujiro Nonaka in the “New New Product Development Game.” The 1986 product development strategy was a way toward “organizational knowledge creation,” according to Takeuchi and Nonaka.

Scrum and Kanban are both repeatable work systems that rely on process flows and aim to reduce waste, inefficiencies and dramatically increase communication across teams. However; there are a few main differences between the two:

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Topics: Waddle Tips

What happens when you have all your loans with one lender?

Posted by Team Waddle on 12-Oct-2016 10:25:54

Ever invested in anything before? Anyone ever told you to spread your risk? Believe it or not the same can apply to funding your business.

Confused? It all comes down to how much security or collateral a lender requires and how much flexibility they will allow if you need to source additional funds against varying assets.

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Topics: Invoice Finance, Receivables Funding, Waddle Tips

Don’t get bamboozled by business loan pricing

Posted by Team Waddle on 09-Mar-2016 09:42:33

Business loans can be tricky, especially when quoted interest rates don’t include all the fees and charges.

When you’re shopping for a new business loan online it’s very easy to get bamboozled by all the terms lenders use like APR, RR, PA, PM etc. The most important one to look at is the APR.

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Topics: business loans, Loan calculations, Waddle Tips

Invoice Finance for QuickBooks Online Customers (video)

Posted by Team Waddle on 19-Feb-2016 12:17:29
Invoice Finance for QuickBooks Online Customers (video)

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Topics: Invoice Finance, Waddle Tips

Inside Waddle

Every business needs easy access to low-cost working capital. Subscribe to our blog to receive updates about invoice financing and to read about the impact that modern invoice financing is having on Australian businesses.

 

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