Bad cash flow = bad news. And one of the biggest reasons for poor cash flow is customers not paying their invoices on time. So, how do you combat the potentially negative impact of outstanding invoices and get back in control of your payments and cash flow?
The key lies in some strategic use of technology, and a lot of thought about your internal processes and customer relationships.
Coping with the ever-growing pile of paperwork, and doing all that tedious keying-in of data is something that gets left at the bottom of your to-do list.
That’s why when the weekend rolls around you can often find business owners hunched over their laptop, catching up on their bookkeeping.
But there is an alternative. It’s all about automation – and it’s something our clients have begun using to get their weekends back.
When you’re running a business, you expect to get paid on time by your customers. There’s a professional expectation when you send out your invoice that it will get paid in line with your payment terms.
But the reality of the situation is not quite so idyllic.
It’s not uncommon to end up with a long list of unpaid invoices. And when you don’t get paid on time, this has a negative impact on the future health of your business.