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5 Dec '22

How flexible payment terms could be the answer to your late payment problem

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.

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21 Nov '22

Common invoicing mistakes that lead to late payments and how to avoid them

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.

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14 Nov '22

How to know if your business is processing secure payments

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

Ola Polczynski
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3 Nov '22

How to improve your accounts payable process and protect your business against fraud

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.

Ola Polczynski
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18 Oct '22

Sales Order Management: How to better deliver on sales and convert orders to revenue faster

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

Ola Polczynski
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28 Sep '22

Invoice finance, explained: What it is and how it works

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.

Ola Polczynski
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15 Jun '22

Common accounts receivable issues and what businesses can do to overcome them

Chasing late invoice payments is a burden for any business, and still, more than half of B2B payments in Australia continue to be processed late, costing businesses, on average, $115 billion every year.

Ola Polczynski
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11 May '22

Smart practices to help you optimise your credit control and strengthen cash flow

When you’re running a large operation with hundreds of invoices processed each month, the resources required to manage your payments grow quickly, especially when ageing receivables become a problem. While customers may not pay their invoices for various reasons, it happens too often, causing a range of challenges and increased risk.

Adrian Floate
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5 May '22

How businesses can leverage digital solutions to boost their cash flow and grow

Digital payments helped businesses get paid safely and efficiently throughout the COVID-19 lockdowns and associated restrictions. But as economies reopen many challenges still face businesses including supply chain disruptions, the ‘great resignation’, rising inputs such as fuel, and the expense of reopening. These business challenges make now an opportune time to build on the processes optimised throughout the pandemic, especially across B2B trade.

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3 Mar '22

Pay Invoice by Link – What is it and how does it work?

In an increasingly cashless society, how can sellers easily and cost-effectively receive payment? One answer is using Pay Invoice By Link technology.

Ola Polczynski
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23 Feb '22

Five reasons to automate your accounts payable process

Automation helps businesses to realise efficiencies while providing a range of other benefits. If you’re like most businesses, accounts payables is likely an area that could benefit from automation to reduce manual processes and the need to manage each invoice one-by-one.

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17 Feb '22

How to reduce non-payment risk and minimise your credit exposure

Late payments expose your business to significant financial risk. According to data from the Australia Financial Security Authority (AFSA), people recently entering personal insolvency owe 32 per cent of their debts to a business, sole trader or individual, while 35 per cent is owed to banks. With trade credit almost as high as bank debt, it’s an important reminder of the risk to businesses when they provide goods and services on credit.

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31 Jan '22

Why integrated payment systems are a must-have for every business

To create efficiency in B2B transactions, a buyer’s accounts payable and the seller’s accounts receivable teams should connect to ensure invoices are issued properly, and payment times and amounts are correctly adhered to.

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19 Jan '22

MYOB users: Here’s how Spenda works for you to better manage your cash flow

Ensuring your cash flow is strong can be a challenge for any business, especially when you don’t have integrated systems that give you a real-time view of your finances. Spenda’s seamless integration for MYOB provides real-time transaction updates, reduces manual data entry burdens, and delivers more efficient reconciliation and reporting processes, so you can keep track of your business’s finances anywhere, anytime.

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12 Jan '22

How to unlock business efficiencies with automation

Automated solutions deliver a range of efficiencies to businesses. Whether your business is looking to make financial reporting faster, eliminate tedious procurement processes, or make payments faster and easier, technology that automates business workflows is a must-have for every business. In this post, you will learn how to unlock business efficiencies with automation.

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29 Dec '21

How to get paid faster: Automate systems and provide more payment options

Late payments are one of the most difficult things to deal with as a business owner. Not only is it an administrative burden to chase overdue invoices, but the resulting cash flow challenges can impact your business’s stability.

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27 Dec '21

Five ways to supercharge your business efficiency

As technology develops, businesses have ever-growing opportunities to realise new efficiencies, improve their systems and processes, and grow.

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17 Dec '21

New year, new goals? Here’s how to get your business ready for 2022

With the year coming to an end, you’ve most likely started thinking about your business goals for 2022. No matter what these goals are, having the right systems in place to realise operational efficiencies, get paid faster and strengthen your cash flow will set you up for success next year. Keep reading to learn how to get your business ready for 2022.

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14 Dec '21

Xero Users: Here’s why you should use Spenda to strengthen your cash flow

Bookkeeping, accounting, financial reconciliation, reporting and audits — it’s a lot to keep up with in any business, and can be especially challenging when you don’t have integrated systems that give you a real-time view of your finances.

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29 Nov '21

How business finance promotes better cash flow management

Many personal finance books such as Robert Kiyosaki’s classic, Rich Dad, Poor Dad, state that cash is king. It’s true — having ample cash reserves is a key part of having strong finances, both personal and business.

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3 Nov '21

Everything you need to know about Electronic Data Interchanges (EDI)

Manually sending invoices or purchase orders between your business, suppliers and customers causes inefficiencies. From data-entry errors to documents simply getting “lost” in someone’s inbox or during postage, relying on manual processes to share business information is cumbersome and costly. Electronic Data Interchanges or EDI solves this problem by automatically transferring information between trading partners.

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22 Oct '21

Suppliers: Here’s how to get your retail business customers to pay you quicker

The emergence of options such as buy now, pay later (BNPL) services was first introduced to business to consumer (B2C) transactions, giving customers the ability to access products and services they need today while paying at a later date or over a series of instalments.

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15 Oct '21

How to get paid on time and grow your wholesale or distribution business faster

As a supplier, wholesaler or distributor in the Fast Moving Consumer Goods (FMCG) sector, your business likely deals with a high volume of B2B payments.

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30 Sep '21

What you need to know about e-invoicing

E-invoicing has transformed how businesses send and receive invoices. It automates the exchange of invoice information directly between a supplier’s and a customer’s accounting software.

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20 Sep '21

The pros of modernising your payments infrastructure

For businesses built in the cloud, pivoting, scaling and expanding to new countries can be achieved at a very low cost. These companies also implement some of the latest systems and processes in payments technology — think instant payments, secure payment networks and the ability for customers to choose from a range of options in how and when they pay.

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16 Sep '21

Suppliers: Here’s how to get paid faster and manage supply chains with ease

Wholesale and supply businesses rely on great relationships with their business customers. Not only is this the lifeblood of their business, but providing a great experience for current customers ensures suppliers are referred to other great businesses in their customer’s networks as well.

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15 Sep '21

Why getting paid on time is critical for your business

Late payments aren’t new to Australian businesses. For many businesses, having almost $40,000 in outstanding invoices is the reality of operating, but it doesn’t have to be the case.

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9 Sep '21

Tapping into the real power of business automation

Business automation has been a growing trend in recent years as companies seek to realise efficiencies and make improvements across a range of systems and processes.

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20 Aug '21

How COVID-19 has changed B2B payments

One of the main changes businesses have adopted since the start of the COVID-19 pandemic is a faster move to contactless and cashless payments.

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28 Jul '21

How to deal with late payments without the fuss

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.

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22 Jul '21

Don’t miss the boat on digital debt collection

Chasing up late payments is something business owners and their finance and accounting teams spend a lot of time doing.

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13 Jul '21

Five Reasons to automate your accounts receivable processes

Chasing late payments can cost your business a lot of money, and today, Australian small businesses spend an average of 12 days per year chasing late payments – many of which are still likely relying on out-dated and inefficient manual processes.

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7 Jul '21

The true cost of late payments

Late payments amongst Australia’s SMEs have been an ongoing issue for many years. To address the issue, various policy measures have been introduced, especially when it comes to larger businesses paying SMEs.

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16 Jun '21

How to balance cash flow in an uncertain economy

When economic uncertainty hits, you may find it more difficult to manage your cash flow. This article outlines how to balance your business’s cash flow in an uncertain economy.

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24 May '21

What is a virtual terminal?

With a virtual terminal you can process payments in-store, over phone or online using a tablet. It’s easy & secure! Read more

Sherilynn Gomes
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24 Mar '21

Choosing the right payment service provider for your business

Over the last decade, payment service providers (PSPs) have made a range of payment methods available to customers, particularly when it comes to online payments.

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16 Mar '21

What are integrated payments and ledger-to-ledger postings and why are these important?

The payment processing industry has progressed rapidly in recent years, particularly for business to consumer (B2C) transactions. Platforms that offer integrated payment technologies for businesses to business (B2B) transactions are also becoming more widely adopted, allowing businesses to accept online payments and transform the way in which they trade.

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10 Mar '21

How to create a better customer experience with improved payment options

Providing a great customer experience is critical for long-term business growth. Studies show increasing your customer retention by just 5 per cent can lead to revenue increases of at least 25 per cent.

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2 Mar '21

Payment gateways explained

Businesses that sell online need a payment gateway to accept online payments. As the infrastructure that ensures all your payments occur seamlessly in the background, it’s important that you understand what payment gateway providers are available and how this integrates with the rest of your business.

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23 Feb '21

How to reduce your business debt and improve cash flow

Many things need to be operating successfully for a profitable business, but the most important factor is cash flow management. Without adequate cash flow, it becomes difficult to pay suppliers, manage stock and cover the everyday expenses of running a business.

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12 Feb '21

Email payment fraud: What is it and how to avoid it

As businesses have started using technology more, online payment fraud has become a common problem. Email payment fraud is one of the most common and costly online scams.

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1 Feb '21

How to get customers to pay on time

If you’re an accounts receivable professional or a business owner, you’d know the headache of following up overdue payments all too well. You may use a range of strategies to collect overdue payments, from agreeing on payment plans with your debtors to sending the invoice for debt collection.

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28 Jan '21

How to prepare your wholesale distribution business for peak demand

The COVID-19 pandemic has permanently changed the way in which business is done and how customers shop. In 2020, retail e-commerce sales worldwide amounted to USD 4.1 trillion and are projected to grow to USD 6.54 trillion in 2022.

Ola Polczynski
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28 Jan '21

How to stop chasing late payments and get paid quicker

Despite innovation in payment methods offered to consumers, the way businesses pay each other has changed very little over the last 40 years.

Ola Polczynski
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10 Dec '20

How Workflow Payments can improve cash flow

Today, cash flow is the leading cause of business failure. In fact, 30 per cent of businesses say they only have enough cash flow to survive for three months or less.

Ola Polczynski
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3 Dec '20

Breakthrough Tech Every Business Needs To Boost Cash Flow

Revolutionary fintech functionalities are a ‘game-changer’ for retail and business-to-business transactions. COVID-19 has propelled the move to eCommerce into hyperdrive and app developers have risen to the occasion, providing business owners with effective tools to streamline their payment process.

Adrian Floate
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19 Oct '20

What are workflow payments?

When we think of processing payments, it typically takes place when certain milestones are reached between your business and the customer.

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14 Oct '20

The importance of cash flow forecasting and financial modelling

Business is inherently about two things — people and numbers.

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14 Oct '20

Cash flow is king: How Spenda will improve your cash flow

When you run a business, turning a profit is often a key focus as a business gets off the ground and continues to grow.

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12 Oct '20

Going digital is the key to a strong business

For many businesses, 2020 has been the year that has forced them to innovate and implement digital technologies in their business systems and operations.

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6 Oct '20

How to get paid faster

Making sure you get paid on time is critical to your business’s cash flow.

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7 Jul '20

Pen > Sword. Digitisation > Pen. The Modern Way Of Running A Business.

When it comes to being a business owner, you’re either old school and run it with pen, paper and logbooks, or you have switched to digital technologies where your business data is automated and looking back at you from behind a screen.

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9 Jun '20

How e-Invoicing is set to take off in Australia

We’ve already invented 3D printing, spray-on skin and self-driving cars, so you would expect we can seamlessly send and pay off invoices without errors in an instant, right?

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5 Jun '20

Understanding Merchant Fees

Merchant Fees. They’re as annoying as they are confusing. Many business owners don’t know enough about how they work or what they are paying for, let alone the breakdown of costs behind each transaction.

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28 May '20

Five simple tips to boost customer loyalty

Developing a loyal customer base of repeat shoppers gives your business resilience to weather economic cycles and periods of uncertainty.

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12 May '20

Tips On Reopening After COVID-19

Thankfully here in Australia, we’re handling the COVID-19 pandemic incredibly well and there is now a visible sign of the light at the end of the restriction tunnel, with a planned restoration of all businesses opening by July.

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29 Apr '20

7 tips to save your business money

There are two ways to build a profitable business, increase sales or decrease costs.

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11 Mar '20

Does your B2B Software Stack Up?

Over the last few years, Business to Business (B2B) and Business to Consumer (B2C) efficiency, revenue and customer engagement has differed enormously.

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10 Feb '20

Valentines Day Tips For Businesses

For all retail, supplier or wholesale businesses, there are plenty of ways you can take advantage of the days prior to and including V-Day.