On an average, 90% of invoices in India are still handled manually and, 12% to 15% of them require a payment reminder. As a business takes more time to collect the receivables, the need to fill the cash crunch increases, thereby increasing the demand for working capital. Account receivables is the money that an organization would get from their customers who have purchased goods or…
Month: September 2021
How to collect payments faster from debtors?
Are you spending restless hours checking payments from your customers, debtors, or partners? Is your finance team battling to tally transactions and reconciling them? Was that a YES, YES, YES, YES? “According to a survey, 79% of small businesses have struggled to pay a supplier and have faced cash flow issues, up from 71% pre-pandemic in 2021” As a result of these cash…