It's time to clear out cash flow chaos this spring
In this month's issue:
Happy Spring! As we step halfway into May, It's time to tackle the common frustration for over 80% of business owners and financial professionals: cash flow challenges.
This month, we're focusing on how you can streamline your payment processes to enhance your Accounts Receivable (AR) and eliminate Days Sales Outstanding (DSO) challenges.?
We've rounded up our most powerful strategies for mastering cash flow management.
Future-proof your AR with automation
Debtors can significantly disrupt cash flow and consume valuable time. By automating payments you receive, you ensure instant, timely transactions the moment they’re due, streamlining your AR process, reducing administrative overhead, and improving your overall financial health.
One of our customers automated payments for all of their clients to help them ensure a consistent and positive cash flow, eliminating the risk of bad debt and providing them with better peace of mind and financial stability for their firm.
Never lose sleep over your books again!
Tired of the tedious task of reconciling your accounts? Stop manually reconciling your transactions. Streamlining invoice generation and distribution helps reduce errors and delays . With automatic two-way sync, you can feel confident knowing your records are precise and up-to-date in real-time.?
Forwardly customers save, on average, 5-8 hours a week with our automatic two-way sync with #QuickBooksOnline and #Xero.
Embracing efficiency ensured consistent positive cash flow and virtually eliminated the risk of bad debt — here are 5 tips on mastering your AR .?
Why a lower DSO is crucial
?Faster cash turnover means quicker reinvestment in your business. Faster payment rails, like instant payments, not only speed up transactions but can also transform your financial management by significantly reducing the time your money is tied up in receivables.
Here are our top tips for reducing DSO:
Master your finances
Forwardly's instant payment technology doesn’t just expedite transactions—it transforms your financial management by reducing the time your money is tied up in receivables. Improving your AR and DSO means more operational liquidity and less financial stress.
Learn more about Forwardly’s instant payment solutions here .
?Learn from the best
??: May 17 | 1:00 PM PT | 4:00 PM ET
Get ready to transform your training approach with Alicia Katz Pollock from Royalwise OWLS, a leading voice in accounting education. Learn how to develop training programs that are not only informative but also engaging and effective for all participants.
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??Vol 3 | Blueprints for Entrepreneurs! Help your clients save money
Empowering your clients toward financial success is a powerful way to solidify your reputation as a trusted advisor. By doing so, you not only help them achieve their financial goals but also establish strong, long-lasting relationships.?
Our latest blueprint is filled with strategies to empower your clients to make smart financial decisions and reach their goals.
Effortless and secure credit card payment
It's here! Offer more flexibility to your clients when it comes to paying your invoices. Apply now in seconds to accept all major credit cards.
Pay?end-of-month bills?in seconds for free
Tackle last-minute bills with our 24/7 instant payment bill pay feature.?
1?? Choose an invoice: Select the invoice you want to pay.
2?? Hit 'Pay Now': Initiate the payment via bank-to-bank transfer.
3?? Delivered instantly: Within seconds, your vendor will be notified and prompted to accept the payment.?
How to combat payment fraud and negative cash flow
Worried about rising fraud cases? Make sure your small business is secure. Managing and protecting your business is a continuous process, but with the right strategies, you can safeguard your business and financial health. — Read now
More to Read
That's All for Now! ??
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PS - Are you tired of chasing payments in 2024? Let us help! — Book a meeting
#accountants, #bookkeepers, and #smallbusinesses