For a business, irrespective of the size of the company or the industry it operates within, maintaining cash flow is crucial to securing financial health. This is because if there is positive cash flow, that is if more cash is coming in than what is being sent out, businesses would be able to better run daily operations as well as make better future investments. Regulating cash flow can also help companies avoid falling in debt (Small Business Chron, “IMPORTANCE OF CASH FLOW TO A BUSINESS”, 2012). One way to secure cash flow is to effectively manage invoices. Sending and receiving invoices is a major part of the tasks that a company’s accounts department performs. When invoices are sent in an efficient manner, with proper follow up, companies have better chances of getting paid in a timely fashion. This can go a long way in helping companies regulate cash flow.
The following are 3 easy steps in which companies can send faktura to clients and customers and receive payments efficiently:
Automate
Dealing with paper invoices can lead to many hassles. Apart from the costs involved in buying paper and printing invoices, efficiently storing numerous invoices collected over long periods of time can be very difficult. It would also be difficult to find a specific invoice easily, as someone would have to manually search through the files. Businesses can instead opt to automate their invoicing system. There are many benefits of sende elektronisk faktura such as cloud archival and easy storage, prompt and direct flow of information between clients and businesses, etc. This can help companies receive payments faster and maintain cash flow (E-Invoicing Platform, “WHAT ARE THE BENEFITS OF ELECTRONIC INVOICING SYSTEMS?” 2010).
Update
Once a business decides to opt for receiving and sending electronic invoices, the next step is to ensure the company is prepared for the same. There are various software and hardware requirements such as having digital storage capacity, setting up an access point or collaborating with an access point provider, etc. Clients must also be prepared to receive e-invoices. Apart from technological updates, businesses should also consider training staff members to familiarize them with using automated accounts systems.
Incentivize
The key to sending invoices efficiently in order to maintain cash flow is to ensure that clients pay on time. Many customers or clients might not be making their payments by the due date, which can mean that the company is not receiving all that cash it should be. One easy way to ensure that clients and customers make timely payments is to incentivize early payments and penalize late ones. Another way to receive payments easily is to provide clients with diverse options where payment modes are concerned, such as via credit cards or through net banking, etc (Eric Holtzclaw, INC, “GET YOUR CASH FASTER: 7 SHREWD TIPS”, 2012).
Companies interested in receiving and sende faktura electronically and thus regulating their cash flow can get in touch with a company such as Basware which deals with invoice automation. More information can be found on their website.
