More than a third of businesses are concerned about cash flow. One in three small/medium business (SME) owners spend their evenings doing business administration and nearly 30 per cent of SME owners want to spend less time at work, according to Xero.

Now you can set up a prompt in Xero software to automatically send out Invoice reminders to your customers.

No chasing up payments, sending another invoice paper copy or having an awkward phone conversation.

This week Xero released their latest integration with Apple, the ability to pay Xero invoices with Apple Pay. Mobile payments are the way of the future. It’s predicted that by the end of this year, mobile payment transactions in the US will grow 210%.

Debtors are a major risk for small and medium enterprises. If your business is lagging behind in terms of late payments, read what you can do to lessen debtor days outstanding and collect the cash that your business needs.

We all know that cash flow is king. But just how much sway does it have? Well, you might want to ask the nine out of 10 small businesses that have failed because of cash flow problems.

According to Dun & Bradstreet 90% of small businesses close their doors because of poor cash flow management.

When you have more money going out of the business than is coming in, if you can’t pay your bills, you’re running at a loss. You may have a big order in the pipeline that will cover you but you might need to seek out a loan to cover you until the money comes through.

You can distinguish temporary cash flow issues from larger issues but, either way, you need to act.

At Alliotts, we can help you understand the impact of your cash flow of either offering credit terms or reducing your days in receivables. It could be significant and it’s different for every business.

If you’re interested in finding out what it looks like for your business, then read on.
 

Debtors? Receivables? They all create extra work for a business. However, once you’ve added an invoice to XERO it is easy to keep track of who you need to pay, who needs to pay you and when. Alliotts' new receptionist and admin guru, Yani, runs you through how straightforward the process is.

Do you dread that day of the week? Going through which clients haven’t paid, sending each and every one an overdue notice.

The good news is that Xero can automatically email reminders to your customers without you having to lift a finger. 

In our experience we typically find there are seven success areas for a business to thrive. From managing cash to making sure you have the right talent in place, it can be daunting year after year.

As a business owner, can you confidently tick each box on your own? Or would having a mentor - essentially a business buddy or a sounding board - help keep you on track as well as achieve results?