Improve Cash Flow in 5 Quick Steps

As the cost of living increases, so does the cost of labor, equipment, product and anything else you need to run your business. Which means you need to improve cash flow fast. Before jumping out with a new idea or product, the first place to start is by checking to see if you’re customers are paying you on time. You may realize that a lot of your much needed cash is locked up with your current customers who are withholding your well-deserved payment.
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The Real Impact of Bad Checks on Accounts Receivable Cash Flow

cash flowAccording to a survey from Credit Today, bad checks are on the decline for many businesses, but there are still plenty of industries who continually to struggle with them. You’d think the biggest concern of a bad check is that you won’t ever get paid, but the survey showed that’s not the real trouble with bad checks. In fact, the survey found that only 8% of bad checks go unpaid. The real cost of a bad check and its impact on cash flow is hidden elsewhere.
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3 Creative Invoice Strategies to Improve Cash Flow

improve cash flowAn invoice is naturally a cash generating document as it informs customers what they owe and how they need to pay it. But that is the very least an invoice can do for your business. With a little more strategizing and some creativity, your invoices and invoicing practices can do more than facilitate the collection of cash; they can improve cash flow and customer service, while also saving you money and driving repeat sales. Here are a few example of how you can  make invoices them more than just an accounting document.

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Profitability Does Not Guarantee Healthy Cash Flow for Your Business

Unfortunately being profitable on paper does not mean a company has healthy cash flow. In fact, most companies are profitable on paper; they are making more money than they are spending, but are they collecting invoices fast enough for healthy cash flow? That’s the real question and the downfall of many businesses.

As a business professional, you know that paper invoices can’t pay the bills, which is why paying close attention to the status of your accounts receivable department is crucial. But when things seem to be chugging along in the sales department, the data in your accounting system looks good, and the business seems healthy, it can be easy to ignore some of the early signs of a cash flow crisis.

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5 Areas of Focus to Improve Cash Flow

improve cash flowMany companies fail not from a lack of profit, but from a lack of cash. Financial success for any business is understanding the many factors that impact cash availability and what you can do to manipulate them in your favor. All it takes is a little bit of focus. Here are five areas where you can make small adjustments for big results to improve cash flow.
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5 Silent Cash Flow Killers and How to Stop Them

Many companies struggle with accounts receivable, especially small and medium sized businesses who lack the man-power and resources of larger companies. Why are you having a tough time with accounts receivable cash flow? You may want to blame your customers or the fact that you only have one person available to focus on collections, but we’ve found in our experience that most companies are getting in their own way and they don’t even know it!

How? Because you are giving your customers a reason to delay payment or to pay one of their other vendors before they pay you. Here are 5 of the most common situations we see when customers come to us asking how they can improve their accounts receivable cash flow: Continue reading

How to Improve Cash Flow With Early Payment Discounts

As many before me have said, ‘cash flow is the lifeblood of your business,’ but it’s been said so many times because it’s true! Unfortunately, getting your hands on that cash is not easy, especially when you’re talking about collecting the money owed to you from customers. There are many ways to improve cash flow by focusing on improving invoice collection metrics, but today we’re going to focus on one specific tactic, early payment discounts.

While offering a discount for early payment can be a great way to get paid faster, the early bird does not always get the worm! Below are three important things every company should consider before offering discounted terms.
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4 Foolproof ways to Reduce Disputes and Improve Cash Flow

improve cash flowIf you’re on a mission to improve cash flow in your business reducing late payments and invoice disputes can play a critical role in helping you get there, and it’s easier than you might think! Here are four best practices to help you eliminate the problems causing invoices disputes in the first place and tools to help you quickly resolve them when they do happen.
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Improve Cash Flow While You Grow: 5 Improve Cash Flow Tips for Finance Executives

Improve Cash Flow When you’re pumping out sales and everything seems to be firing on all cylinders operationally, it’s easy to assume everything is humming right along financially. But many companies who are growing in sales still wind up in a pinch because they tend to glance over the fact that sales is not the only area of your business that’s growing. You will have more inventory to manage, more customers, increased transaction costs, more employees, increased compliance requirements, etc. and all of which will increase overall costs. Eventually you will break through that “spend money to make money” bubble, but until then you have to focus on factors beyond operations, like how to improve cash flow and working capital, or you might get into big trouble very quickly.

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4 Credit and Collection Must-Do’s to Improve Cash Flow in The New Year

Improve Cash Flow

Part II of “7 Ways to Improve Cash Flow in 2015 and Beyond”

In the first part of this blog we talked about the importance of understanding your cash flow trends and balancing your accounts receivable and accounts payable schedules; we even shared a few tips on how to improve A/R and A/P scheduling for improved cash flow. In the second half of the article, let’s take a more focused look at accounts receivable and what you can do to make this side of your balance sheet a bit more predictable for more accurate cash forecasting and faster invoice collection.
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7 Ways to Improve Cash Flow in 2015 and Beyond

How do you plan to improve cash flow in the coming year? Your first reaction may be to market heavily and sell more; but selling more does not always mean more money. Why? Because if you sell on credit terms like many business-to-business companies and struggle to collect payment on time, you’re flush with invoices but not the cash you need to pay the bills. Whether your cash flow problems are caused by inaccurate forecasting or collecting invoices on time, below are 6 proven ways to increase cash flow in 2015 and beyond.

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For Businesses on the Verge of a Cash Flow Crisis

cash flowCash flow is one of the most important ingredients for success in any business, especially for small and medium-sized companies looking to grow. Many companies are unaware of their cash flow crisis until things have gotten ugly; because maybe they look profitable on paper, but they still end up filing for bankruptcy because their cash outflows creep up to overcome the cash coming in. Getting right to the point, where there’s smoke, there’s fire, and the most important part of maintaining healthy cash flow is to correct the underlying issues so you can stop putting out small fires and create long-term financial stability. Below we share some of the most effective ways to improve cash flow and turn things around before it’s too late.

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