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10 Tips to Collect Late Invoices Without Upsetting Customers It would be wonderful if all customers paid their invoices on or before the due date. However, that is simply not the way things work. Any business running accounts receivable (AR) can expect some customers to pay late. Some people would never pay their bills if…
10 Ways to Improve Collections and Cash Flow If you manage accounts receivable (AR), you will be all too familiar with the usual excuses for non-payment. The check is in the mail, my manager is away on vacation, and we sent a payment to you last week; these are just a few tactics people use….
How to Anticipate and Act on Them Managing the cash flow of a small business can be tricky at the best of times. Limited resources mean that one wrong move can significantly affect the bottom line and the money in the bank. For example, one bad hire would not bring down a big business. However,…
A quick guide to the benefits and costs of invoice factoring Invoice factoring is not a suitable financial solution for every business. Suppose your business raises only a few invoices and customers settle their accounts within 15 days, for example. In that case, the benefits you would gain from factoring invoices would be minimal. And,…
It’s likely you’re making at least one of these invoicing mistakes, but it’s not too late to put good practices in place. If your business sends out sales invoices, it’s a good idea to have your customers on a set billing cycle. This keeps money flowing into your company on a regular basis. Steady cash…
Invoice factoring simplifies cash flow management and eases burden of managing accounts receivable Wholesale and distribution companies often operate with lower gross margins. So, the pressure is on to turn around inventory fast. But, sometimes, customers fail to pay sales invoices on time. And that can leave a cash flow shortage that can lead to…
Most B2B Businesses Can Take Advantage of Factoring Sales invoice factoring allows businesses to collect cash from their invoices as soon as an invoice is issued. The immediate receipt of most of the money due from an invoice simplifies cash flow management and releases funds that can be used for business expansion. Many businesses in…
Overcome Shortages with Adequate Forecasting and Financing When the sales graph shows an upward trend, you would expect the bank balance to be on a similar trajectory. However, expanding businesses often experience cash flow problems. A shortage of cash during a period of expansion can impede growth and, in some cases, even cause the company’s…
Take Immediate Action to Stem a Cash Flow Catastrophe Cash flow problems don’t always creep up on a business. Sometimes, a single event can cause a shortage of cash. A customer might unexpectedly cancel a significant order, for example, or be late paying a high-value invoice, or you might have overlooked a large payment that…
Create a Cash Flow Cushion for Your Staffing Business Balancing the cash flow of a staffing agency can be challenging. On the one hand, you have workers wanting to be paid weekly, biweekly, or monthly. And, on the other hand, you have customers who insist on 30-day credit terms or more. As a result, there…