Businesses across the country are presently gearing up for the year’s biggest shopping bonanza. Many will thrive but sadly many will face a nightmare before Christmas when late payers put a squeeze on the company cash flow. But just like our four-legged friends – dogs – late payers are for life, not just for Christmas!
A report carried out by the Federation of Small Businesses earlier this year found that existing policy interventions have had no major effect on tackling problems around the UK’s poor payment culture over the last five years. On average, small businesses reported that 30 per cent of payments are typically late, compared with 28 per cent in 2011. Sadly a letter to Santa asking to put a stop to late payments won’t bring you what you want, but putting measures in place to tackle the problem should yield more positive results.
KashFlow Payments is an easy way of taking instant one-off or recurring payments. Activation is easy, and once you’ve signed up, you should see an immediate increase in the flow of cash into your company, allowing you to improve your financial planning and productivity.
There are many great features in KashFlow Payments that allow you to manage the entire chain of events within the payment process, like the ‘pay online’ button which can be added to invoices, letting customers pay you instantly. Why not try it out today and see how it can add extra festive cheer to your business!
KashFlow is simple accounting software that works how you’d expect it to work, without using confusing jargon or complicated processes. You can manage your business finances from anywhere and create professional, branded quotes and invoices in minutes. For a free no-obligation 1-2-1 demo just call the KashFlow on boarding team on 0844 815 5779.