Fact:  If all your customers paid promptly, your cashflow will improve.

Fact:  Most customers don't pay until you ring or chase them.   

Fact:  Most small business owners are not comfortable with ringing round for overdue invoices

Fact: if you aren't ringing your customers for money, someone else will and they'll get paid sooner

So, how to deal with the above facts of the cash flow matter?

1.  Establish a relationship with whoever makes your customers payments.

2.  Don't wait until an invoice is overdue before reminding the customer when its due ring in advance - make sure that all invoices are received, ok to be paid, and find out when you can expect to be paid.

3.  Sort out anything that is giving the customer an opportunity to pay late.  Clear up queries on invoices; send out copies; provide any necessary delivery notes, proof of receipt, signatures etc;.

4. Find and close any gaps in your own procedures that are slowing down your ability to collect money.  This can be anything from sending out paper invoices to those who prefer not to recieve email ones, raising your invoices more often... up to analysing why you are having to raise credit notes and taking action to make sure that orders and deliveries are all correct first time.

The technical term for all the above is Credit Control.  Click here to find out how I make all this happen in YOUR business

If like many business owners, you are too busy to fit all this in, then let me do it for you!  Outsource your credit control.

Janet Barton 01254 777394