Dec 29, 2020
Cashflow is the lifeblood of any business, serving as the fuel that keeps operations running smoothly. It is the net amount of cash and cash equivalents flowing into and out of a business during a specific period. While it may seem like a straightforward concept, many businesses often overlook the significance of cashflow management. In …
International debt recovery can be a challenging process for businesses. It requires careful planning, effective communication, and a clear understanding of the legal and cultural nuances of the countries involved. This guide provides a step-by-step approach to help businesses navigate the complexities of international debt recovery and increase your chances of successful recovery. Perform Due …
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One of the challenges businesses face is managing trade debtors, as unpaid invoices can significantly impact cashflow and hinder growth. However, it is essential to handle this delicate situation carefully to maintain positive relationships with your clients. The most effective way to maximise cashflow is by enhancing your credit control process! In this article, we …
For businesses of all sizes, sending dunning letters chasing late payments can be a frustrating and time-consuming task. However, implementing a well-crafted dunning letter strategy can greatly improve your chances of recovering overdue payments while maintaining professional relationships with your clients. In this article, we will explore the concept of dunning letters and provide you …
Efficient management of debtor days is crucial for businesses seeking to maintain a healthy cashflow. By implementing effective strategies to reduce debtor days, you can enhance your business’s financial stability and improve overall profitability. In this article, we’ll outline 15 actionable steps that can help you significantly reduce debtor days and optimise your cashflow! Evaluate …
Effective financial management is vital for the success and sustainability of any business, and among the key tools used in financial planning and decision-making is the cashflow forecast. It provides valuable insights into the expected inflows and outflows of cash within a specific period. In this article, we will explore what a cashflow forecast is …
Having issues with invoices not being paid on time? You’re not alone. Six in ten businesses are impacted by invoices being paid late. Sending invoice emails is an essential part of doing business if you want to get paid on time. That’s why we’re giving you an invoice email template you can copy! Copy this …
Maintaining a healthy cashflow through credit control is crucial for the long-term success and sustainability of any enterprise, especially against the backdrop of soaring insolvencies and record instances of late payment. One effective strategy for achieving this goal is to implement a robust credit control system. By effectively managing your business’s credit and collection processes, …
In today’s fast-paced and interconnected world, credit control has become a vital aspect of financial management for businesses. Traditionally, credit management involved manual processes and relied heavily on human intervention, which often proved time-consuming and prone to errors. However, with the advent of advanced technologies, the landscape of credit control has undergone a remarkable transformation. …
Did you know you’re legally entitled to claim late payment interest and compensation for any of your overdue invoices? Late payments are one of the most frustrating parts of doing business and the effects are devastating, with 440,000 businesses possibly being forced to close as a direct result of being paid late. This shows the …
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