Customer Receivables Management
Cashflow is critical to any small business. If your customers are managed correctly, it can allow your business to run efficiently and grow to meet the business demands. If customers are happy and your services/products meet their needs, generally customers will be happy to pay your invoices. This can have a positive impact in many areas of your business. For example, if your employees are liaising with happy customers, they will feel a lot happier and go the extra mile to ensure they are serviced well. They will also feel the effort that they put into your business is worthwhile.
There are many parts of customer management:
- Advertising effectively
- Receiving Orders
- Shipping Products
- Raising sales invoices
- Receiving payment
- Chasing outstanding customer invoices
- Speaking in the customer to ensure they are happy
- Handling disputes in a positive way
We can help streamline the customer receivable management process through using accounting software effectively. Our Bizgro bookkeepers can be involved by using software such as Xero to ensure customer payments are matched to invoices in a timely manner. As a result, the customer data can be trusted and debtors chased quickly. This can considerably improve the cashflow in your business. Also, it can highlight to management earlier that there may be an issue with a customer. Then the issue can be addressed before more services/products are provided to that customers. Statements can be sent out to customers either electronically or through the post so customers don't get a surprise for an outstanding invoice months later. By involving Bizgro, we can ensure that you and your customers are accountable to each other and the sales process functions smoothly.