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Business Advisory Update

Debtors and Cashflow

Business is good. Customers love your products. You provide a superb service. So why is your cashflow trickling not gushing? You have analysed the numbers. Your overheads are reasonable and there's no wastage. But what about your debtors?

If your business isn't strictly 'cash over the counter' you probably already understand the work - and the pain - of chasing money from overdue payments.

Good debtor management can make a real difference to cashflow in your business. Poor debtor management can be a major roadblock. You can have a lot of money tied up in debtors that you could use better elsewhere to keep driving the business forward. Think about it this way: the money you have tied up in debtors is your (reluctant) investment in your customers' business. Wouldn't you rather invest in your own business?

A cloud of negativity sits over debtors. People don't like to deal with and so it usually just gets worse. It sucks up time as you try to unravel the paper trail in invoices, statements and call logs. It can be a nightmare to figure out with not much to show for it.

The key to managing debtors is not to let it get away from you. Call us if you want to talk through your debtor numbers and put together a better system to manage debtors in your business.



 

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