21 Jan Effects of outstanding invoices
Failure to finalise invoice payments on-time impact business health, ultimately this is felt as pressure on cash flow that impedes business efficiency and ultimately contributes to how well a business can focus on its prime objectives – profit and growth!
‘The Invoice Market’, “SME cash flow crisis report” has compiled these factors and ranked the major effects (download at https://www.i-q.net.au/wp-content/uploads/Apollo_TIM_Report_2017_final-1.pdf).
billzy’s mission is to counter these effects by providing tools and facilities within its platform to enable on-time and early (billzy® Cash) payment options to business customers. Credit card processing support is built into the billzy® member benefits and through the billzy® Intelligent Invoice, transforms standard business invoices to electronic payment enabled ‘Intelligent’ invoices. While its simple to send your invoices via billzy® with credit card enablement, its even easier for your customers to pay, by just clicking on the link that is generated by billzy® for each invoice you send.
No Set Up Fees
A big benefit of being a billzy member is that you become a card merchant without the usual process of approval through an acquiring bank.
No Monthly Ongoing Fees
billzy charges members no Merchant joining or monthly fees. Card transaction fees of 1.67% (GST inc) are deducted from the bank account the recipient has nominated to receive the card payments.
Zero Bank Transfer Fees
You can also pay or receive payments between your bank account and that of a client. billzy does this by transferring the monies through a secure trust account. There is no charge for these transfers.