Suppli featured in the LBM Journal as a critical tool for Suppliers during turbulent markets
Suppli was proud to be featured in the December 2022 edition of the LBM Journal as a powerful tool to help suppliers get paid faster, reduce risk and offer a differentiated customer experience. While the last couple of years have been record-breaking for suppliers, current market signals are pointing towards a period of increased volatility.
A combination of rising mortgage rates and hefty price increases for new homes has resulted in a sharp decline in buyer demand with closed sales down an average of 30% YoY across major US markets.
A survey of builders by Zonda from September found 37% planned to reduce housing starts in 2023 significantly, while another 48% planned to cut starts counts slightly. Fannie Mae is predicting a 25% drop in single family starts next year and Builders FirstSource recently announced it was laying off 2,600 employees and shuttering 17 locations.
Its not all doom and gloom though. Suppliers can plan ahead and leverage technologies like Suppli to position themselves for a period of increased volatility. Our credit relationship management platform helps your team get paid faster with text and email-based payments, one-click deposits and automated customer communication workflows.
“In order to be successful in the near future, LBM Dealers should turn their focus toward technologies that provide business efficiencies, more so than ever. The past couple years have seen a large boom for the building supply industry and we’re at a point where that growth is slowing down, meaning dealers will need to start doing more with less in order to set themselves up for success.”
– LBM Journal, December 2022 Edition
If your team is looking to do more than just weather the storm, reach out to the Suppli team today to learn how we can help supercharge your revenue and credit operations.
Suppli is the first A/R and credit relationship management platform purpose-built for building material suppliers. From onboarding to invoice presentment to collections, our technology empowers suppliers to increase cash flow, reduce risks and provide a better customer experience. Our team is composed of building material suppliers, software engineers and financial experts who have lived the challenges suppliers and contractors face each day. That’s why we’ve built things like project-based invoicing, mobile-friendly payments and tools to communicate with upstream parties. We are based in Austin, TX and backed by top venture capital funds and some of the largest suppliers in the country. Connect with us at gosuppli.com to learn more.