Logistics and Cash Flow Insights for Small Businesses
Now is the time to address long-term capital needs and to put the right financial solutions in place. Also, build relationships with people and companies based on their ability to be with you today and tomorrow.
Christopher Johnson is a senior financial services executive with deep operating experience leading global business platforms across commercial and business banking, consumer finance, capital markets, and payment services sectors. He is the President of Global Financial Services & Payments at Pitney Bowes. I recently interviewed Christopher and he shared insights, statistics, and trends in both small business supply chain and cash flow.
Below are excerpts from the interview.
Brian Moran: Can you tell us how Pitney Bowes is uniquely qualified to help business owners successfully navigate these obstacles in 2022?
Christopher Johnson: Pitney Bowes has served the needs of small businesses for over 100 years. Today, we have over 700,000 clients in our portfolio from almost every industry.
Things are vastly more complex and expensive today in shipping and finances than they were a few years ago. I don't believe that trajectory is going to slow anytime soon. As business owners try to determine their financial and shipping needs for the rest of 2022 and beyond, Pitney Bowes is creating solutions to help them in both areas.
Brian: What lessons from supply chain challenges that have taken place over the last couple of years can you share with our listeners?
Christopher: The pandemic has shown us how fragile the global economy is. Companies need to carry much more inventory levels than they did in pre-pandemic times. The cost of labor, logistics and transportation are all playing a part in these challenges, and they are going to change the way we do business in the future.
Brian: What do you tell businesses who front-load inventory, so they have it, but then must deal with extra carrying costs and now rising interest rates?
Christopher: The cost of operating businesses is going up. For companies, especially small businesses, now would be the time to start thinking about long term capital needs. Look at refinancing some of the debt that they have and ensure that they've got the right financial solutions in place for the long-term.
Brian: What is one piece of advice you would give to business owners to help them run better companies for the rest of this year?
Christopher: Continue to build relationships and evaluate the people and companies you are partnering with based on their ability to be with you today and tomorrow. Find partners who are willing to invest in your business based on the long, hard work that you done, and that are prepared to be with you, through the ups and downs.
Brian: Great advice! Christopher, thank you for being a guest on our 5 in five Podcast. I appreciate your time; I certainly appreciate your insights. And I know our listeners do as well.