Improve your cash flow by enhancing your credit control
In the SME market cash flow and payments from customers are the most important elements of business. Although it’s almost an afterthought for most business owners.
With the adoption of cloud accounting and implementation of Making Tax Digital, the problem has never been clearer to see. Debtors are now live figures on a dashboard, as is bank balance and you can be felt feeling lost on how to transfer one to the other.
We have partnered with a Xero add-on which is designed to automate credit control – Chaser. Chaser has the ability to be automatic whilst also feeling personal and professional. With automated reminders and escalation through your business, cash flow should become less of a worrying factor for your business.
As Chaser have the information and data to prove where and how they can help, we thought we should pass this information on. The average reduction in debtor days is 16 days for an SME, which equates to £4,400 of every £100,000 of turnover. Up to 80% of debt can be chased by email chasing alone and nearly £25,000 is owed to the average UK SME on any given day.
By increasing cash flow and speeding up payments from customers you can start to use that cash for growth and development!
For more information on Chaser and how we work with them, please contact us at: