We once had a client who couldn’t figure out how to balance their cash flow:
I know we’ve got lots of customers who owe us money by the amount of workflow, but we only see the money months later!
After a few questions, we seemed to arrive at a key issue:
When we meet a new customer, we’re so busy with other projects that we just start doing the work. Our admin team gets to invoicing the customer sometimes months after the project is completed.
Perhaps it’s not much of a surprise – invoice your customers months after work is complete and they may ‘forget’ to pay you for a few months as well.
Luckily, there are a number of apps out there that can enable you to speed up the sales and billing process– making sure you get paid faster and ultimately control your cash flow:
Available for Android and Apple iOS devices, Xero Touch is Xero’s newest mobile app allowing you to send and manage invoices, reconcile bank transactions, add expenses, and manage customer data from your mobile phone. No bookkeeping knowledge necessary, Xero Touch makes performing basic accounting functions easy – so that transactions happen in real time, not months later.
If you create proposals for your clients before invoicing, Quoteroller’s iOS app is a must. Quoteroller allows you to create professional and sleek looking proposals in minutes. With a super friendly dashboard and easy to use editing tools, your customers can expect proposals right after your sales meeting – if not on the spot.
Eliminating that lag time between the client meeting and the proposal could mean closing that sale a lot faster – which of course means you get paid and can focus on the project itself.
They may not have an iOS app but they definitely get your money to you faster – without hefty fees.
For business owners looking to avoid that pricey 2-3% that accompanies online payment processing services like Paypal or Stripe, Rotessa debits a customer’s bank account directly for a low, fixed monthly fee.If you’ve got customers that pay you recurring subscriptions or retainers, just have them sign a standard “Pre-Authorized Debit” agreement with their banking info and you’ll get paid automatically during your billing cycle. With your billing taken care of, you can use a system like Freshbooks to send out a payment confirmation to your customers by email each time a payment is made.
Now that you’ve effectively automated your billing process and eliminated your accounts receivables, you can focus your time where it’s better spent – on keeping your customers happy and doing good work!