Having the ability to get paid quickly is key for any business, and yet late invoice payments continue to be a burden for many Australian businesses, costing around $1.1 billion per year.

Invoicing is a core component of your business that can either lead to stable cash flow or late payments. And while it may feel like all of the power is in your debtor’s hands when it comes to getting paid on time, that isn’t always the case.

With a more digital and connected world, we have seen a surge in the adoption of eCommerce technologies and contactless payments.

Traditional payment processes are resource-heavy and time-consuming to manage. Digitising your Accounts Payable process will help secure your payments and save you time and money.

A Sales Order Management System is a digital solution that enables businesses to easily manage pricing, distribution, payments and tracking of shipments.

Cash flow is the lifeblood of any business, because with poor cash flow it ultimately becomes impossible for any business to function properly. When cash flow becomes tight, many tend to draw on other sources of funds – including banks and personal finances – just to stay on top of their bills.

From Head Office, you will be working with franchisees across varying stages of maturity. Some owners may have a long history of owning and operating a business, while others may be starting out with their first venture.

Franchise businesses deal with many suppliers and customers each day. Whether the day involves ordering stock, moving inventory or sending invoices, there are a range of challenges and inefficiencies that can arise along the way.

Franchise head offices have a significant impact on the strength of the entire franchise group. To ensure everything is operating at its best and most profitable, franchise head offices need to look at their payment tools and systems.

Late payments are an ongoing problem for Australian businesses. If you’re a business owner, you’ve probably seen the statistics and felt the effects of these in your own business.