The formula for improving cash flow is simple: collect account receivables as fast as possible, and slow down your accounts payable without jeopardizing your relationship with suppliers and partners. Knowing that most businesses, and even individual consumers, operate with the same ideology in mind means the challenge to get paid faster may seem insurmountable. Which is why an industry exists to create products that focus on helping businesses get paid faster. When cash flow slows, the likelihood of survival decreases. In fact, the lack of cash is one of the top reasons that small businesses fail.
Accounts receivable is truly the lifeblood of any business that extends credit to customers. Manage it effectively, and you can grow your business strategically. Manage it wrong, and you introduce inefficiencies and increase costs that erode margins.
Cloud Collect is a cloud-based tool that works with your current invoicing software. Using your data, Solupay's Cloud Collect creates workflows to help automate your invoicing operations, while providing valuable insights you can use to improve your cash flow.
Topics: Cloud Collect