Thank you for paying email

Getting an invoice paid on time feels pretty great. You appreciate your clients’ attention to the due date, because it helps your business to maintain a consistent cash flow. You also know how difficult it can be to track down late payments, as well as the amount of work that can go into that task. Prompt payments are a boon to your profitability as well as your own time. And according to research, a simple ‘please’ when it comes to invoice reminders, and ‘thank you’ when the bill is paid can increase the percentage of paid invoices by more than 5%! (more…)

Four Common Myths about Electronic Invoicing

electronic invoicing

Small and medium sized businesses who use automated invoicing and build close working relationships with their clients will be more successful and have significant savings. That’s a bold claim, but consider the 90-95% reduction in paperwork and 25% improvement in productivity that happens when you use e-invoicing, and you will begin to understand how outsourcing your accounts receivable is the way forward. Invoice processing technologies are paving the way forward, substituting old and outdated accounting solutions and revitalizing them. Don’t let your business fall behind. (more…)

businesses fail

Starting a new business is exciting. You have a passion for your product or service, you think you’ve identified the market for it, and you dive in after doing your research. But the statistics are harsh: a full 50% of small businesses fail within the first five years of operation. By year ten, this number skyrockets to a full 70%! And according to the US Small Business Administration, this number can vary so much that the failure rate can be as high as 95% by year five. (more…)

Increase Revenue With These Top Business Tips

Increase Revenue

Increased competition can stall business growth, especially for small and medium sized businesses. Without strong sales, a company’s future is at stake. Growing your business is not easy; the dedication and perseverance needed can be overwhelming. But understanding how to manage growth and profitability is key to ensuring longevity. (more…)

software automation

Thinking about automating some of the tasks in your law firm? It’s a great time to make the switch. There is a huge array of automation software applications which are safe, cost-effective, and will save you time and money. (more…)

QuickBooks Invoice Tracker

Did you know that 60% of invoices are paid late? This chart from the Smart Company details average payday data for 19 countries across the globe, and clearly shows that the vast majority of customers worldwide are late with their payments. Even large firms are going past their due dates, with more than a quarter of their invoices being paid late. This can be catastrophic for small and medium-sized enterprises trying to stay afloat. And with the average time to pay at 38.97 days, and more than a quarter (27.26%) of those invoices paid beyond the agreed terms, how can businesses work to combat these troubling statistics? With 15.25% of UK invoices being paid later than 60 days, smaller companies need payment certainty. Knowing when your payments will arrive is crucial to achieving balanced cash flow. (more…)