I am a strong advocate of open lines of communication – this is something that I am passionate about and I always endeavor to establish direct connections with all of our own clients. These open channels help you to maximise the benefits of using GreatSoft CRM software, and improve your use of the existing technology – and this ultimately improves your bottom line.
We all know that the survival of any business stems from a good cash flow, and often the basics to achieve and maintain this are overlooked. Central to the positive cash flow of any business is an effective Debtors management system. The average time taken by customers to pay their bills varies from industry to industry, but using GreatSoft CRM has proven that our clients typically reduce their outstanding debtors days from 100 plus days – to less than 40 days!
I was recently evaluating some of our clients’ management systems and what stood out for me was the status of their lockup. The length of debtors’ and WIP days outstanding often averaged over 100 days. The target we set for our firms is 30 days. Many firms are achieving this and greatly reducing the huge strain on their cash flow in the process. We would like to help you achieve similar results.
The funny thing is that it is not always the clients’ fault that the funds have not been collected. Often the accountant/partner has not invoiced timeously. This innate apprehension to bill and not finalise the job leads to inefficiencies and payment delays that will affect everyone’s bottom line at the end of the day.
I always challenge our clients to re-look at their billing procedures and to consider ways to improve their debtor management. I always advise them to focus on their “A” clients first and to discuss alternative payment options like monthly billing, or value based billing. I know we can make a positive impact on any cash flow. Our team specializes in discussing these tactics with clients and surprising them with the immediate impact these have on their cash flow.
We aim to constantly add value to our clients by assisting them to apply the correct tools and tactics to improve their productivity, increase their revenues, and ultimately improve their cash flow.
