19 Jul How Accounting Systems Help Businesses Get Paid on Time
We’d all love to avoid those awkward calls to clients following up on payments. It’s a delicate balance between maintaining great customer relations and ensuring that they are prompted to settle their accounts. Nothing takes a bite out of your cash flow harder than late payments. With all that is going on in the world at the moment, the last thing small and mid-market businesses need are delayed payments. In this guide, we discuss how accounting systems help businesses get paid on time.
Table Of Contents
Accuracy
We don’t need to add more delays to what may already be a time-consuming process. Having an accounting solution that ensures that your invoices are error-free is the easiest way to get paid faster. A comprehensive solution such as Sage 200 Evolution, or Sage Intacct for those who prefer Cloud, enables you to ensure that all your invoices comply with your customer’s requirements.
Choose a solution that includes all the information that they will look out for, such as contact and company details, purchase order (PO) numbers, and a breakdown of costs for the different line items. The last thing you need is a delay caused by back and forth emails requesting more info that is omitted on your invoices.
Simplicity
Have you ever taken the time to assess how easy it is for your customers to pay you? Perhaps you could make it easier. For example, through a Brilliant eStatement that provides customers with clickable links to download individual invoices on demand.
Your goal should be to make it as simple as possible for someone to pay when they open your invoice. Even something as simple as the visibility of your banking details makes the customer’s experience simpler.
Reminders
We all try to avoid having to make those awkward calls to clients reminding them about overdue invoices. Investing in a solution such as the Sage 200 Evolution Debtors Manager Module takes the pain out of the process.
Sage Evolution Debtors Manager is an add-on module designed to help businesses collect on overdue invoices. It is designed to optimize the invoice collection process and provides visibility of each outstanding invoice along with reasons why it is overdue and expected payment dates.
It’s times like these that make timely payments an even larger priority. Ensuring that you have an accounting system that helps your business get paid on time is crucial to your survival.
Keen to learn more on how accounting systems help businesses get paid on time? Drop us a line on 011 792 9521 or contact us via email and we’d be glad to guide you in choosing a solution that caters to your unique business requirements.