When Should You Use a Collection Agency?
Your small or medium sized business can suffer quickly, with long-lasting repercussions, if even one payment is missed. Your cash flow depends on a steady stream of reliable payments from your clients. How do you know when it’s time to hire a collection agency to deal with your outstanding invoices, and what sorts of things should you be doing before that step is even considered? You have legitimate receivables that need to be collected for the sake of your company’s financial health, and a collection agency is a great option when you can no longer do it yourself. (more…)
- Published in Business Growth, Cash Flow Management, Invoice Payments, Invoice Reminders, Invoice Tracking
Experiencing a Cash Flow Crunch? Here’s What You Can Do
Whether it’s the seasonal ebb of low cash flow, or a more pressing problem that is weighing on your business, money crunches are tough for everyone involved. Your debts may be too high to correct, or your margins too low. Perhaps it’s your current sales volume. More than a need to simply chase invoices and offer incentives to entice prompt payments, these times of negative cash flow are more complicated and more detrimental to the health of your company. And cash flow management is as important as liquidity. (more…)
- Published in Cash Flow Management, Invoice Payments, Invoice Reminders, Invoice Tracking
Pay Bills as Quickly as Possible Without Affecting Cash Flow
Did you know that a quarter of business failures are due to an interruption to cash flow? 40% of small-to-medium sized business owners say they would stop doing business with customers who paid late, while 90% said they would pay their own suppliers on time if their customers paid bills by the due date.
(more…)- Published in Cash Flow Management, Invoice Payments
Top Business Invoicing Concerns and What to do About Them
Invoicing is a task that can feel tedious and perhaps seem so straightforward as to not need a lot of attention. After all, it’s a standard task, and everyone has to do it, no matter how cumbersome. What’s the big deal, you might wonder. But businesses of all sizes need to understand how crucial this piece of operations really is, especially in terms of positive cash flow.
(more…)- Published in Invoice Payments, Invoice Tracking
What Are The Best Ways to Automate Your Accounting Business?
Have you ever found yourself confused and frustrated when dealing with bookkeeping? Arguably the most crucial departments in a business, the process needs to be smooth.
Accounting is one of the basics in a business, and certainly one of the most important areas to master if you want to run a successful firm. Checking and analyzing your firm’s financial information can feel daunting, and can bring extra costs and stress. Among business owners, it is one of the most hated tasks! So stop dreading the accounting process, and think seriously about automating your accounting business with some or all of the tasks associated with bookkeeping. (more…)
- Published in Business Growth, Cash Flow Management, Client Management, Invoice Tracking
Top Automation Software For Your Law Firm
Thinking about automating some of the tasks in your law firm? It’s a great time to make the switch. There is a huge array of automation software applications which are safe, cost-effective, and will save you time and money. (more…)
- Published in Business Growth, Client Management, Invoice Reminders, Invoice Tracking
Recent Posts
-
Why We Love Invoice Reminders (And You Should, Too!)
Have you been wondering what sorts of benefits ... -
How Do You Know Your Business is Successful? Track These Key Performance Indicators
The best way to evaluate the success of your bu... -
What You Need to Know to Keep Your Accounting Compliant
Tax season isn’t over yet! 2019 still has some ... -
When Is The Right Time To Outsource Your Accounting?
Feeling overwhelmed with financial and accounti... -
Invoicing Mistakes You Should Never Make
You know that to get paid you need to invoice y...