Paystand

"We don’t need to change how we perform collections. Customers need to follow the terms!" In B2B, customers often pay late because of cash flow problems. When you limit their options, you're actually making it harder for customers to pay. Offering more payment options is an easy way to give overdue clients a chance to settle their account with you in a way that they can financially manage. Learn more: https://hubs.ly/H0y2hrs0... #accounting #finance

Most businesses think difficult accounts receivable will eventually pay off their debts. But the longer it takes to collect payment on an invoice, the less likely you'll ever collect that debt. You need consistent follow-up efforts and billing reminders to make progress on collections. Sometimes that's not even enough, you need to include a "Pay Now" button. Make it easier to get paid and follow up!... https://hubs.ly/H0y2hpf0 #accounting #finance

Two of the biggest accounts receivable mistakes: 1) Letting accounts receivable age too long 2) Restricting your clients’ ability to pay with few payment options... #accounting

5 common NetSuite implementation mistakes: Lack of admin training Not using the sandbox tool Migrating old uncleaned data... Wrong implementation partner Optimizing for your old process #accounting

Creating a steady stream of "free cash flow" can be challenging in B2B payments. In fact, the average US business has 24% of its monthly revenue held up in accounts receivable (AR). In this blog: a strategy for steady cash flow. #finance