Money may not run the world,
but it does run businesses. Managing cash flow is an integral
monitoring and adjusting process that keeps a business on top of its
future cash requirements. In short, proper
cash flow management assures that there will be cash available.
Here are the top tips to set the cash flowing right:
Set targets
Preparation is key.
Maintaining a cash flow forecast within the next six to 12 months can
keep the process focused and organized.
Clear Payment Terms
Always know when you need to
get paid so as to manage the cash flow according to schedule.
Quick Invoice
Issuing the invoice quick as
soon as a work is completed ensures the cash will flow just as
immediately.
Easy Payment for
Customers
Easy money for them means
easy cash translation for you.
Offering Fixed-Rate
Payment Packages
Periodic payment packages
enable advanced billing, thus making way for more organized
Not Profit but Cash Flow
Good cash flow is necessary
for survival. Focusing on properly managing it yields profit that's
in order.
Technological Aid
Technology everywhere has
been making human processes easier. Software like the Cash Flow Mojo®
can help in managing flows by helping set up a budget, setting aside
money to pay immediate expenses or past bills or even for inventory
and tax purposes.
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