5 Tips to Improve Your Cashflow

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5 Tips to Improve Your Cashflow
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• It is important that you can differentiate
  between what your profits are, and what your cash
  flow is Cashflow is the life-blood of your
  business its what allows you to pay off your
  bills and staff and keep the business afloat!
• Here are 5 quick and easy ways that you can
  improve your cash flow today!

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• 1. Make it painless by invoicing immediately!
• The sooner the invoice is out the better. Be
  proactive and punctual with your invoicing. If
  you wait too long, the business that owes you may
  not have the amount within their budget anymore,
  or worse, theyll forget the invoice altogether!

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• 2. Automate your process so that everything is
  available in one system!
• Automate your invoicing process so that you can
  auto-generate any recurring invoices, resulting
  in faster payments which equals better cash flow!
  This complimented by the online-based payment
  services available such as E-way and Ezidebit
  will be your ultimate weapon!

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• 3. Create clear payment rules in your terms and
  conditions
• Be up-front and clear about your payment terms to
  avoid a debate with your customer later. Be sure
  to review and update as appropriate!

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• 4. Understand the pain points of your customer
• Some customers may not be as timely as others in
  their payment. By identifying what is a pain
  point in their life, you can address the issue
  and offer them an alternative you will get a much
  better response from them!

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• 5. Know when to walk away
• Dont feel bad - if your customer is a repeat
  offender, do not waste any-more time or effort on
  them Cut them loose! You can spend that time on
  someone that will respect your terms!

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• A survey conducted by accounting software firm
  CCH and global information service group Wolters
  Kluwer found that 31 of small business fail due
  to insufficient time management of the books!
  Avoid being part of this percentage by perfecting
  your invoicing process and everything else will
  fall into place

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• Our team is ready to assist you with guidance and
  direction around the best fit for your business!
  For more information on how can a small business
  increase its cashflow check out our blog on
  managing cashflow for small business or Business
  Cash Flow Management in 9 Easy Steps.
• Also, take advantage of our complimentary
  consultation and book in today to see how we can
  help!
• https//www.ikeep.com.au/