Increase the speed at which cash flows in to your business!

The ability to increase the speed at which cash flows in to your business are numerous, some or all of them can have a dramatic effect on your cash flow position. Listed below are a few guide lines that all businesses should consider and address.

Sufficient and up to date credit information is readily available through a variety of approved credit bureaus - these will suggest a credit limit and advise on payment history.

It has never been easier to make informed judgements in respect to relevant client credit limits.

Trade references should be taken as part of the account opening process, but be aware that it is common practice for businesses to pay a few suppliers on time and give these as references to show best payment practice.

Often initial orders are placed on a C.O.D basis - Cash On Delivery, other variations include payment by bank-transfer, credit card payment, online payment all of which are cash risk limiting.

Most online accountancy systems allow for automatic email reminders to be actioned and set to encourage clients to pay to terms, and they can be scheduled as appropraite.