The Bottleneck that stops Cashflow Understanding the importance of cash flow is something that is not always considered. Business focuses on selling and invest heavily into this area and of course rightly so! No customers no business, but business owners on their endeavours to expand their organisations often forget that the cash has to flow from those lucrative sales. Where cash stops flowing is in the often-overlooked Debtors ledger or Accounts receivable file. It bottlenecks in Days Beyond Terms waiting for action and becomes the bane of the sales person and the worry of the business owner. How do you ask to be paid without upsetting the customer? The answer is simple don’t let the customer go beyond the payment terms you agreed but if they have start immediately on a collection process as everyday counts. But what about the relationship, they won’t buy my services again if I look to get paid or send a debt letter? If the customer valued the service you provided would they delay payment to such an extent it puts your business in jeopardy. Business goes out of business because of business! You need to find out why they are not paying you and It’s usually one of the following three bullet points.
cash-flow? At the Ward Group, we provide a unique professionally managed service to SME’s called Ledger Management Services {please see more detail below}. It is an outsource credit control solution covering the domestic and international markets at a fraction of the cost of employing a full-time credit controller/accounts personnel and in a short space of time it pays for itself. It is an always on service that “Gets you paid on Time”. For More Information Contact: Paula Carney-Hoffler E.I.I.C.M Credit Mgt.Cert,DipLaw Client Credit Risk & Compliance Manager Hugh J Ward & Co Solicitors 9 Seville Place Dublin 1 Mobile: 087 2681891 PCarney-Hoffler@hughjwardsolicitors.ie
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