Is your traditional approach to managing your finances falling short? Are your debtor days ballooning and constraining the cash flow of your business? No time or resources to stay on top of your invoicing, identify poorly referenced debtor payments or chase slow paying accounts? Here’s why, and what has to change:

Debtor Days Ballooning?

As you work in your business and your client base grows, so do the number of invoices and often, unfortunately, so do your debtor days. You end up having a great deal of cash flow marooned with clients who are not paying as quickly as you would like.

In growing businesses, the simple solutions you took in the past, when you were smaller, for debtor management and accounts receivable can no longer keep up.

You cannot rely on your staff alone to monitor your accounts receivable if you want to stay on top of your cash flow.

Staff and your clients are human and therefore not consistent or timely.

Manual, ad hoc accounts receivable (AR) processes become inefficient. The snowballing of your debtor days is the consequence of a lack of process and one that does not make it simple and convenient for your clients to pay.

Manual Administration of Your Payment Terms and Invoicing is an Overhead

When you rely on your staff and administration to oversee debtor management and accounts receivable, it’s not only efficiency that suffers.

There is a significant cost in having your staff administer your accounts while they could be deployed doing more productive and value-added work. In addition, there is the hidden cost of printing invoices, the cost of postage, and the hours it takes for staff to deal with identifying and reconciling payments.

In order to streamline your business and reduce these costs, you must look for new, innovative solutions to manage your accounts receivable.

Apxium’s Built In AR Module is the Answer

The first step is to automate the communication of your invoices and reminders to your clients.

By serving your invoices to your clients as soon as they are authorised you create instant efficiency.

In addition, by also systematising the reminders to outstanding debtors you ensure that you remain front of mind for timely payment for your services.

Apxium’s unique, “smart” payment gateway is like no other gateway in Australia. With all the other benefits you gain from Apxium’s payment gateway you also get a ready built AR system that communicates to your clients effectively and efficiently following the communication rules you set up. Your clients receive email and SMS notification of online invoices and reminders that allow them to pay and review their entire history with your business with one click on the embedded hyperlink.

Your clients have multiple payment options at the click of a button. Apxium supports credit card payments and also debit from a nominated bank account.

Apxium can support paperless, direct debit to facilitate payment of amounts owed via instalments.

Apxiums merchant administrator dashboard comes with an inbuilt virtual POS terminal, enabling your business to take payment over the phone or in person. Once an online invoice or invoices are paid, the cash is settled to your bank account and the payment is automatically journaled and written back into your accounting software.

Apxium offers some of the lowest merchant service fees in Australia.

This, along with the reduced debtor days and savings from the inbuilt automated accounts receivable system in printing, postage costs and the savings in staff time, all combine to increase your bottom line by up to 3% on turnover.

Apxium’s “smart“ payment gateway is available to all types of businesses and the unparalleled efficiencies can be utilised by businesses from professional firms to merchants selling goods via invoices. Join the growing number of Australian businesses utilising this breakthrough in cash flow management.

Discover more about how software like Apxium can improve your debtor management and gain control of accounts receivable in your business.