27 May Time is money. Wasted time is costing YOU money.
Benjamin Franklin was right all along: time IS money. He has been widely credited with coining this quote, and it has stood the test of, er, time.
On how many occasions have you said to yourself: “I don’t have time for this stuff!”
You KNOW how much time chasing money costs you. And your accounts department. And the employee you’re questioning who has executed the work. Three people in this imaginary but very real scenario who are chasing the dollar, on company time.
Don’t you dream of a more seamless way to get the money you have already worked hard for?
billzy® is a genuine solution to this quandary.
First, let’s explore some stats which will have you nodding your head in agreement.
Did you know that, on average, 46% of companies have to ask twice or three times for their bills to be paid by errant corporate customers. So, almost half of the companies you’ve invoiced do not pay within the terms they’ve signed off on, even with all the agreements and terms in place.
Furthermore, in an extraordinary 3% of cases, companies are forced to demand payment FIVE or more times.
Says the report titled ‘The Invoice Market, SME cash flow crisis report’:
“This suggests that culturally Australian businesses are prepared to break their word with suppliers to assist their own business.”
It adds: “This raises questions about how long peer-to-peer business relationships can last before they begin breaking down.”
When an SME does business with another SME, there is an unspoken rule that one won’t renege on the terms in order to harm the other’s cash flow. Not always the case!
As referenced in previous blogs (we invite you to read them all and get up to speed), this new way of inadvertently severing relationships goes a long way in explaining why Australia’s two million SMEs have on average $38,000 in outstanding invoices waiting to be paid.
Okay, so you’re ready to sign up with billzy®. How EXACTLY can Billzy assist to get your business and cash flow on the right foot?
Says Nick Holmes from billzy®, “Billzy® is all about improving your control over cashflow and working capital. If you find yourself in a position where a customer has not paid or cannot pay when expected or desired, then billzy® through our billzy® Cash facility steps in to assist when you need it. Its fast, simple, efficient and entirely in your control when you access early payment. We help you to take back control over your cashflow!”