How important do you consider your cash flow?
Many small businesses focus the majority of their attention on sales but cash flow is king. This video recommends:
A good way to improve cash flow is to outsource your trade credit. Trade Credit Express is a business payment platform to outsource your trade credit administration and accounts receivable (A/R) financing providing your business with the payment speed of accepting a credit card, while extending improved trade credit terms for your customers.
Outsourcing your trade credit administration is a smart strategic decision.
If your company is like most, much of your cash is tied up because you’ve been lending it to your customers through trade credit, providing free, short-term loans to your buyers. Additionally, most small and mid sized businesses don't have the scale to operate trade credit operations cost effectively. Just like outsourcing other business functions like payroll processing, businesses can benefit by outsourcing the administrative functions of operating an in-house trade credit program for B2B transactions.
Start Outsourcing to Achieve:
Increased capital availability
Faster payment cycles on invoices
Improved debt to income ratios
Reduced risk of non-payment on invoices or customer bankruptcy
Reduced administrative burdens of extending and managing trade credit
Increased sales to new and existing customers by offering better terms
Outsourcing has distinct advantages over "factoring" including lower advance rates and greater value by more efficiently handling trade credit functions to reduce your administration expenses. Increasing credit capacity in response to actual growth rather than being limited by historic performance makes an enormous difference to a growing company.