The following post was written by our COO, Josh Chapman. Josh also manages accounting and finance at LandscapeHub, and has a wealth of knowledge to share about the financial benefits of LandscapeHub.
Over the (almost) three years that LandscapeHub has existed, we have spent a lot of time discussing the benefits of a digital marketplace for the industry. If you are a supplier there are clear benefits from being on LandscapeHub:
- It’s free to list your inventory and provide up-to-date pricing and availability
- You can reach new customers You can interact with your existing customers in a convenient and modern way
- We have third party shipping for deliveries outside of your local market
- Orders come to you electronically and in a standardized format, simplifying order management
However, and this might be because I’m wearing my CFO hat, I don’t think we spend enough time talking about the financial benefits of being on LandscapeHub. As a supplier, two significant benefits come from being on LandscapeHub: Invoicing and A/R, and sales tax.
1. Invoicing and A/R - LandscapeHub handles all invoicing and collections for the orders you receive from our platform. You never have to worry about getting paid. We guarantee payment to you directly, regardless of whether the customer has paid us.
This feature brings up some questions for you to think about:
- How many of your customers pay you in 45, 60, 90, or more than 90 days?
- Will it get worse because of delays and economic impacts from COVID-19?
- What could you do with that money if you were guaranteed to get it in 30 days or less by selling on LandscapeHub?
- How much time could your team save if they didn’t have to call, email, and text customers to track down late payments?
2. Sales Tax - LandscapeHub collects and remits all sales tax for purchases on our platform. This change occurred due to the marketplace tax laws that went into effect in most states on January 1, 2020. You don’t have to worry about paying sales tax for orders from LandscapeHub, which is especially -helpful for your out-of-state orders. Rather than keeping track of whether you need to register and file in each state, we take care of it for you.
I know for many suppliers, this is a challenge, especially if you are within 100 miles of another state or have customers ordering from other states. Some of you may monitor this closely to make sure you know whether you need to register and file. That takes a lot of time, and then there is the hassle of registration fees and filing with each state. Sales on LandscapeHub will make it all that work go away.
On the other hand, some of you may not track it as closely and hope that old laws don’t change, or that the volume is too low to catch anyone’s attention. Wouldn't it feel better to know you don't have to worry about that and that you are in good standing without registering and filing yourself because you're selling on LandscapeHub?
I know both of these topics aren’t very exciting, and it’s due to my job as our COO that I spend a lot of time thinking about them. But the truth is that I love to save money, save time, reduce risk, and worry less. Both of these features do all of that, and it’s why I think it’s essential to give them the attention they deserve.