Billing inefficiencies are the biggest bottleneck when it comes to smooth cash flow for your business.
Here's a few smart ways in which you can get ahead of these inefficiencies
✅ Deploy automation for invoicing, the longer you take to manually invoice your receivables, the longer to collect
✅ Ensure contract terms are clear and accurately translated to billing to avoid questions and collection delays
✅ Accept multiple payment mechanisms like ACH, credit cards and bank transfers
✅ Deploy dunning strategies like invoice reminders, automated payment retries and credit card expiry reminders to pre-emptively prevent failed payments.
✅ Track metrics on your invoiced revenue and collected revenue.
‼️ While these might seem obvious, several billing solutions out there make their costs opaque and take percentages of your revenue! Ensure these costs are clear upfront.
A billing system does not deserve a percentage of your growth.
Come chat with us at Maple!
Feeling bogged down by billing inefficiencies that are choking your cash flow? You're not alone. Many businesses face similar challenges, but the good news is that there are clear steps you can take to streamline your process. From auditing your current system to embracing new technologies and training your staff, there are ways to make billing a breeze. What changes have you considered to improve your billing system?
You're struggling with billing inefficiencies. How can you streamline your process for better cash flow?
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