{"id":411,"date":"2023-05-03T11:53:34","date_gmt":"2023-05-03T06:23:34","guid":{"rendered":"https:\/\/www.zikzuk.com\/blog\/?p=411"},"modified":"2023-05-03T11:53:35","modified_gmt":"2023-05-03T06:23:35","slug":"how-smes-can-improve-their-debt-collection-using-bfm","status":"publish","type":"post","link":"https:\/\/www.zikzuk.com\/blog\/how-smes-can-improve-their-debt-collection-using-bfm\/","title":{"rendered":"How SMEs can improve their debt collection using BFM?"},"content":{"rendered":"\n

Most of you must have heard of this old saying, \u201cThe sale isn\u2019t complete until the cheque clears\u201d. Receiving payments from your clients\/ unfortunately doesn\u2019t come with a guarantee. <\/p>\n\n\n\n

Collecting payments is crucial in any business and the process of collecting payments should be streamlined to save time and prevent cashflow gaps that can further hinder your business growth. <\/p>\n\n\n\n

And that’s when BFM – The Tally Data on Mobile<\/strong> application can come in handy to your business. <\/p>\n\n\n\n

The Business Finance Manager application is an AI-based platform that generates real-time data and helps you streamline your debt collection process with reports, automated reminders, and a lot more. <\/p>\n\n\n\n

So dive in to know how you can streamline your debt collection process with BFM<\/strong><\/a> today!\u00a0<\/p>\n\n\n\n

Get A Receivable Summary With Debtor Prioritization<\/strong><\/h2>\n\n\n\n

It is crucial in business to know when and from whom to collect payments. Therefore, to make it easier for you, the tally data on your mobile<\/strong> integrated into BFM offers you a receivable dashboard with aging analysis and prioritization of your debtors. <\/p>\n\n\n\n

With this information, you\u2019ll know your debtors and the outstanding amount they owe you arranged according to the credit period given and past transaction history. Moreover, you can keep a track of all of your debtors on the go via BFM. <\/p>\n\n\n\n

Automated WhatsApp And Email Payment Reminders<\/strong><\/h2>\n\n\n\n

Customers usually require timely reminders for their due payments. However, it is quite difficult for SME owners to manually track invoice due dates and send follow-up emails. <\/p>\n\n\n\n

Therefore, here at BFM, the tally data on the mobile app<\/strong> comes in handy and sends automated payment reminders on your behalf of you so that you don\u2019t miss out on any payments.  <\/p>\n\n\n\n

Assign Credit Limit And Period To Customers<\/strong><\/h2>\n\n\n\n

In business, to avoid overdue receivables, you have to be on your toes to remind your customers about their invoice payments. However, not receiving payments on time also leads to a cashflow crunch which in turn hinders your business growth. <\/p>\n\n\n\n

Hence, to avoid a future cash crunch, you can use BFM, the Tally data on the mobile<\/strong><\/a> <\/strong>app that allows you to simply assign credit limits and time periods to those customers who miss payments so that you can plan your cash flow accordingly.\u00a0<\/p>\n\n\n\n

Conclusion<\/h2>\n\n\n\n

Smart debt collection using business intelligence apps like BFM is paving the future for SMEs to solve this unavoidable challenge. Using Tally data on mobile<\/strong> via BFM, you can keep track of your finances effortlessly from anywhere and anytime. <\/p>\n\n\n\n

Moreover, you can also receive real-time financial insights, cash flow forecasting, and nudgable insights based on cash flow projections to help you further flourish your business along with an automated debt collection process. <\/p>\n\n\n\n

So make your business processes easier with BFM today!<\/p>\n","protected":false},"excerpt":{"rendered":"

Most of you must have heard of this old saying, \u201cThe sale isn\u2019t complete until the cheque clears\u201d. 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