How is your cash flow looking? Do you even know? Do you have time to check? Who chases up late payers?
Keeping tabs on your financials shouldn’t be just another part of your to-do list; it should be an essential daily routine. Some business owners overlook this procedure as they are busy with more pressing matters. Burying your head in the sand will not only leave you in the dark but can bring nasty surprises further down the line.
Having a healthy cash flow is important for businesses as this brings stability. Decorus’ real-time integration with Sage offers instant analysis on financials. The additional credit control module is here to ensure that you avoid inheriting bad debt from your customers by keeping on top of your accounts using pre-defined automated rules so you don’t have to!
Bad debt can damage your cash flow. If you don’t have the money you expect in your account to cover your outgoing costs then your customers will be putting you in debt too. This can escalate, causing long-term damage to your business and the relationships you have not only with the customers owing you but with those who you owe money to.
Building good relations with your suppliers can take time; burning those bridges with late payments can be instant. The credit control module will help to avoid getting into this position as its configurable automation features will contact your customers when payment is due or late.
Chasing debtors can be time-consuming, frustrating and unnecessary but it can also be awkward. Nobody likes asking for money, letting the software begin the process for you will limit the likelihood of you having to do it yourself. It is your money; it should be in your bank account on the due date as previously agreed.
You deal with people, people make mistakes. Maybe they have been your tenants for years, reliable, always pay their rent on time. One month they fail to do so, for a legitimate reason, instead of letting it spiral out of control, Decorus can send a gentle reminder via text message or e-mail, prompt you to send a letter or make a quick phone call and a potentially tricky situation is resolved. This function can also be beneficial when dealing with those serial late payers who always miss their deadlines. Set a rule which reminds them that the payment deadline is approaching, giving them no excuse.
Insolvency is often the reason businesses cease trading, don’t let someone else ruin your opportunity to be successful.
For more information on Decorus and its integration with Sage complete our contact form or call 0114 2307305.