Help For SMEs dealing with Slow Payers

A leading UK accountancy software provider has teamed up with an invoice payment management service to help its customers get through the current economic difficulties. The new combined service from KashFlow and Getting Paid automates the process of reminding customers that payment is due and automatically implements procedures if the payment isnt received.

During an economic downturn, a lack of cash can cause a lot of stress and difficulties for small businesses. KashFlow was designed specifically to be used by small business owners to easily manage their accounts and closely monitor their company finances. It is designed to be simple to use for non-accountants, freeing-up their time and skills to concentrate on the core business activities. This is vitally important if a small business is to survive in times of recession. They don’t want to get bogged down in doing their bookkeeping, but nor should they neglect it.

Getting-Paid automatically sends reminders to customers, each message increases in severity until the invoice is paid. It is customisable so that the small business owner can be confident that the service does exactly what he requires. Like KashFlow, the system automates as much as possible, the time-consuming task of chasing customers for payment. 

KashFlow Founder and Managing Director, Duane Jackson explained, “Almost everybody is concerned about the current economic situation, including the KashFlow customers I speak to. That makes integration with a service like Getting-Paid  more useful than ever. By using this service our customers can concentrate on what they’re good at rather than spending time chasing payments”.

Technical Director of Getting-Paid, Peter Bowen, has experienced first hand just how soul-destroying chasing late paying customers can be. He said, “I don’t like confrontation and I tend to believe people too easily. It’s part of my genetic wiring. This makes it hard for me to be firm enough to do the right thing for my business. I’m embarrassed to say that I’ve harmed my business in the past by not being tough enough with debtors.”

Both KashFlow and Getting-Paid are excellent examples of the new wave of web-based software. Known as ‘Cloud Computing’, it is fast replacing the traditional software model that is expensive and labour-intensive. Cloud Computing offers much better value with advantages such as free online storage, mobile access, pay-as-you-go bespoke service etc. It enables the smallest of organisations to access the same quality of service as everybody else.

See how IRIS KashFlow works with your business and your books