Having problems getting your debtors to pay up? A long debtors’ list is frustrating because it hurts your cash flow. How many hours do you waste chasing up payments from customers? What about the time spent manually allocating cash, cheque or EFTPOS payments to different invoices? One of the biggest problems with manual processes is the high chance of error. Getting things wrong leads to bigger problems and confusion with customer accounts, which can hurt your cash flow. Here are some ways to improve that –
Receive Payments Instantly with PAY NOW
Some manual payments can take days to show up in your account. Plus, you’d have to allocate every payment to an individual invoice, which not only takes hours of your time but creates mistakes.
What if you could receive payments instantly through an automated ‘PAY NOW’ button? One click and it direct debits a customer’s credit card, debit card or bank account instantly through a secure payment gateway. It also instantly reflects transactions across invoices.
Set up auto payments for repeat billing customers
If you have repeat billing customers, it is far more efficient to set up an auto payment option so that you don’t have to chase up for the same payments every time.
Setting up a regular payment schedule significantly reduces the time you spend chasing up on payments and decreases the chance of late payments, which is great for your cash flow. Plus, you wouldn’t have to keep having those late-payment conversations with your customers.
Set up automatic invoice reminders to avoid manually chasing up for payments
If a customer fails to pay their invoice on time, you could have a cash flow problem on your hands. This is why, you’ll want to remind your customers when a payment due date is approaching or if they have missed a payment.
Setting up automatic invoice reminders is a good way to avoid having to chase up manually because it wastes your time and can affect your customer relationships. Short and friendly reminders make the whole process so much easier, so you don’t have to do the hard work yourself.
Your frustrations are almost over. The NEW EasyVend Web is almost here!
The NEW EasyVend Web will improve your cashflow and decrease your manual processors overnight. Get ready to simplify your business and make more money.
The NEW EasyVend Web is in final development stages now.
Register your interest to get notified about BETA testing and to follow the progress of final stages.
Instant Payments and Automated Allocation to Improve Cash Flow
Managing a growing company is challenging, especially when manual payment tracking slows you down. If you want to improve business cash flow, you must eliminate the gap between sending an invoice and actually seeing those funds in your bank account. Relying on traditional bank transfers often leads to a “waiting game” that creates unnecessary bottlenecks.
By implementing an automated “PAY NOW” feature, you can offer customers a seamless way to settle their dues via credit card or secure gateways. Consequently, this not only accelerates the transfer but also enables automated allocation.
Instead of spending hours matching checks to invoices, the system handles the reconciliation for you. This transition from manual to digital is exactly how a business can improve cash flow while maintaining a professional image.
Reducing Manual Payment Processes to Save Time and Minimize Errors
One of the biggest hurdles in how to improve cash flow for a small business is the high margin for human error. Manual data entry is not only tedious but also risky. A single mistyped digit can lead to payment disputes and strained customer relationships. Therefore, reducing these manual touchpoints is vital for operational health.
Furthermore, for those wondering how to improve cash flow in a manufacturing business, automation is the key to managing high-volume transactions. By setting up automatic regular payment schedules for repeat clients, you remove the need for constant follow-ups.
In turn, your team is freed up to focus on production rather than paperwork. Ultimately, automating these processes ensures that your financial data remains accurate. It makes it much easier to consistently improve business cash flow over the long term.
SERP FAQs
How can EasyVend help improve my business cash flow?
EasyVend streamlines your entire receivables process by replacing slow, manual tasks with high-speed automation. By ensuring payments are received faster and reconciled instantly, it provides the liquidity you need to reinvest in your operations without delay.
What is the PAY NOW feature, and how does it work?
The PAY NOW feature is a secure button embedded directly into your digital invoices. When a customer clicks it, they can pay immediately via their preferred method—such as a credit card or direct debit. This simplifies the user experience and ensures funds hit your account much sooner than traditional methods.
Can EasyVend handle repeat billing customers automatically?
It certainly can. You can set up recurring payment schedules for your long-term clients. This means you no longer have to chase the same invoice every month; instead, the system handles the collection automatically, ensuring a steady and predictable cash injection.
How do automatic invoice reminders help cash flow?
Automatic reminders act as a “soft touch” follow-up for overdue accounts. By sending friendly, scheduled prompts to debtors, EasyVend ensures your invoices stay at the top of their priority list without you having to pick up the phone, effectively reducing the “days sales outstanding” (DSO).
Will EasyVend reduce manual errors in payment processing?
The system automatically matches payments to the correct invoice numbers in your ledger, it eliminates the risk of double-entry or misallocation. This precision leads to cleaner books and much happier customers.
