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CommBank and Xero Integration to Help Small Businesses Get Paid Faster

It’s not a secret that in order to stay afloat businesses need to be making money.  Access to funds is essential for businesses to not only pay off debts, but also to finance everyday operations and pay their staff and suppliers.

It can become problematic, however, when a business’ cash flow is tied up in unpaid invoices.  If a business sells on credit – as many do – they might be in the unfortunate position of waiting to get paid by their customer and struggling to make ends meet in the meantime.

There are a few solutions: one is to use credit management apps like ChaserHQ or Debtor Daddy to help automate the process.  Things like chasing up unpaid invoices and escalating debts can be made easier by using these apps that integrate with your accounting software.

The other is to get a loan.  Commonwealth Bank’s (CBA) Stream Working Capital is a digital solution for businesses to access the money tied up in their invoices.  Here’s what you need to know about it:

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Suffering Poor Cash Flow? How to Get Paid Faster!

Stop tearing your hair out chasing money and investigate a cloud-based system like ezyCollect.
Stop tearing your hair out chasing money and investigate a cloud-based system like ezyCollect.

Too many small businesses suffer from cash flow problems, which is why our Small Business Management Course covers financial planning and how to monitor and manage your cash flow through debtor management.

However, few small businesses suffer from poor cash flow because they’re unaware of how to manage their debtors properly.

Rather they suffer poor cash flow because they lack the resources to chase late payers or, as in most cases, they don’t have the time to stay on top of their accounts receivables to ensure their clients don’t become late payers in the first place.

Aussie company, ezyCollect, aims to solve this problem for medium sized companies – here’s how.

Continue reading Suffering Poor Cash Flow? How to Get Paid Faster!