The shift to direct-to-consumer business brings with it myriad benefits and opportunities to better engage consumers. On top of that, the direct-to-consumer model also allows businesses to create cost-savings that wouldn’t be possible in the traditional business model. However, just as the operational components of the direct-to-consumer shift will require transformation, so too will the financial, accounting, tax, and payment elements.
In shifting from a more traditional model to a DTC model, payment economics alone are scaling up considerably and will require businesses be able to manage accordingly. In many cases, this shift will not only require a change in strategy or process but the implementation of an entirely new technology or capability.
Part 4 of DTC Discussions is focused on payment, tax, and accounting.
In this episode of DTC Discussions, Clarkston’s Evan Shirley shares helpful tips and questions for your business to consider about transactions, including the following areas that are all key to a DTC business:
- Order-to-Cash Process
- Accounting Entries
All are key to a DTC business, whether you are launching or maturing it. Watch this short webinar to learn what to consider as your business adopts a direct-to-consumer model. With the right approach, businesses will not only realize the inherent economic gains to moving direct-to-consumer – they’ll be able to further optimize and maximize returns with the appropriate considerations to the financial, accounting, tax, and payment elements.
If you haven’t already, be sure to watch part one, part two, and part three of Clarkston’s DTC Webinar Series, a collection of videos designed to help consumer products and retail companies launch, grow, and optimize direct to consumer businesses. Learn more about Clarkston’s direct-to-consumer consulting services here.