Improving Cash Flow with Online Payments
Maintaining a healthy cash flow is critical for your business. Cash flow issues can result in an inability to pay vendors on time and keep your business open and operating. Embracing digital payments can help improve your monthly cash inflows.
What is cash flow?
Cash flow is the net cash transferred in and out of your business. Unlike revenue, however, cash flow includes all infusions (or disbursements) of cash, such as loans or investments. A large cash loan could boost your cash flow even if you have no revenue. Conversely your business could be flush with accounts receivable revenue, but until you receive payment for those receivables, your business will be unable to make critical expenditures.
Offering a digital payment option helps cash flow
Adding a digital payment option for your customers means you get paid faster. Research shows that reducing the friction to payment results in customers paying you earlier. Paying bills by phone and mail are less secure and provide a poor customer experience. Companies that fail to offer convenient online payment on their invoices are more likely to be de-prioritized by their customers or worse: forgotten.
How we can help
Easy Pay Forms can help you add a digital payment option to your existing invoices and sites without the hassle of switching billing software. Perhaps you have a businesses with large existing client database or billing software that is tightly integrated with the management of the business itself (i.e. Medical practice management) that makes the prospect of changing systems daunting and expensive. Our solution allows you to keep what you have in place while giving your customers an easier way to pay you in just a few clicks.
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