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// FEATURE // problems . Without this you ’ re flying in the dark and suddenly things become a lot less clear . Furthermore , if paid invoices reconcile automatically , you ’ ll save a lot of time manually handling this process and life will be a lot more pleasant .
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Credit control : You can please some of the people all of the time , all of the people some of the time , but you can ' t please all of the people all the time . Some people are going to be slow to pay and you ’ re going to benefit from implementing a collection process . Either employ a credit controller , a collection agency or online credit control software , like Chaser , which will send out automatic payment reminders and help with the collection process .
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Cut costs : Eliminate all unnecessary costs and fees . It seems self-explanatory but undoubtedly there is room left to run things more efficiently . Find a company that can help you save around 2 – 3 %, on all card payments . For a company with low profit margins , say 5 %, that ’ s a 40 %– 60 % increase in profitability . Look after the pennies , the pounds will look after themselves .
More than anything else in their businesses , smart small-business owners recognise that staying on top of their cash flow is critical for the long-term health of their company .
Do these things successfully and your company will be able to survive and thrive even in times of financial instability . �
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SMART SMALL- BUSINESS OWNERS RECOGNISE THAT STAYING ON TOP OF THEIR CASH FLOW IS CRITICAL FOR THE LONG- TERM HEALTH OF THEIR COMPANY .
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