Cash Flow Part 2

Cash Flow

The size of the customer might mean you have to look at other options. If you have customers who buy in bulk the invoice values will be higher and getting the money in will make a significant difference.

You could look at:

• Ringing the customer a few days before the invoice is due to check they have the invoice and are scheduling it for payment. If the customer has to choose who they can afford to pay the phone call might be the difference you need
• Have contracts in place with Right of Retention Clauses, and register the interest on the PPSR to reduce risk

Review Costs
Things change – do you look around?
Is there anything you can do differently to reduce costs or improve
efficiencies? For example: adopt new technology, improve processes,
attend an industry conference for new ideas & products, seek quantity
discounts from suppliers as your purchases increase…..