Tanvi Garg’s Post

🤔 Why Do Invoices, Credit Notes and Sales Orders Matter? There’s a big difference between these 3 important documents that are the main pillars of your invoicing process. If you’re not sure what they are or how they work, we’ve got you covered here 👇 https://buff.ly/3UVgRHv Our latest blog post covers the essentials including: 🔹 The three reasons when you can cancel an invoice 🔹 Why it’s better to issue a credit note 🔹 The three causes for issuing a credit note 🔹 How sales orders can prevent invoicing problems 👉 Swipe to find out more or head to our blog for more info! #smallbusinesstips #invoicingtips #soletradertips #onlineinvoicegenerator

Struggling with invoice errors and chasing payments? Been there. Here's our game-changer checklist: 1. PO Arrival: Confirm swiftly upon receipt. 2. SO Creation: Precision turns orders into revenue. 3. Invoicing Mastery: Details matter for smooth operations. 4. Sales and AR Recording: Guide your ship to profitability. 5. Chargeback Vigilance: Navigate wisely to avoid surprises. 6. Invoice Receipt Confirmation: Always confirm for efficiency. 7. Customer Portal Check: Digital proof of delivery is essential. 8. Cash Flow Forecasting: Predict and prepare for financial storms. 9. Persistent Follow-Ups: Chase payments to keep cash flowing. 10. Reconciliation and Application: Balance books for financial health. 11. Documentation: Document, archive, repeat for audits. This checklist saved us from disaster. It can do the same for you. Let's talk and raise the bar together. Leave a comment or reach out. Time to redefine CPG invoicing.

𝗣𝗿𝗼𝘃𝗲𝗻 𝘀𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝗲𝘀 𝘁𝗼 𝗚𝗲𝘁 𝟴𝟬% 𝗼𝗳 𝗬𝗼𝘂𝗿 𝗣𝗮𝘆𝗺𝗲𝗻𝘁𝘀 𝗼𝗻 𝗧𝗶𝗺𝗲.   𝗛𝗶, 𝗜’𝗺 𝗩𝗶𝘀𝗵𝗮𝗹 𝗚𝘂𝗽𝘁𝗮 (𝗙𝗮𝗰𝘁𝗼𝗿𝘆 𝗢𝘄𝗻𝗲𝗿 𝗖𝗼𝗮𝗰𝗵)  One of the biggest challenges in the manufacturing business is managing cash flow and ensuring timely payments from clients. Below, I am mentioning some proven strategies to get 𝟴𝟬% of your payments on time: ✅ 𝗖𝗹𝗲𝗮𝗿 𝗣𝗮𝘆𝗺𝗲𝗻𝘁 𝗧𝗲𝗿𝗺𝘀: Set clear payment terms from the start and ensure your clients understand them. ✅ 𝗣𝗿𝗼𝗺𝗽𝘁 𝗜𝗻𝘃𝗼𝗶𝗰𝗶𝗻𝗴: Send out invoices immediately after delivery of goods or services to avoid delays. ✅ 𝗘𝗮𝗿𝗹𝘆 𝗣𝗮𝘆𝗺𝗲𝗻𝘁 𝗗𝗶𝘀𝗰𝗼𝘂𝗻𝘁𝘀: Offer discounts for early payments to incentivize your clients. ✅ 𝗔𝘂𝘁𝗼𝗺𝗮𝘁𝗲𝗱 𝗥𝗲𝗺𝗶𝗻𝗱𝗲𝗿𝘀: Use automated systems to send payment reminders before and after the due date. ✅ 𝗖𝗹𝗶𝗲𝗻𝘁 𝗥𝗲𝗹𝗮𝘁𝗶𝗼𝗻𝘀𝗵𝗶𝗽 𝗠𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁: Build strong relationships with your clients to encourage timely payments. ✅ 𝗣𝗮𝘆𝗺𝗲𝗻𝘁 𝗣𝗹𝗮𝗻𝘀: Offer flexible payment plans for large orders to make it easier for clients to pay on time. ✅ 𝗥𝗲𝗴𝘂𝗹𝗮𝗿 𝗙𝗼𝗹𝗹𝗼𝘄-𝗨𝗽𝘀: Consistently follow up with clients to remind them of upcoming due dates. ✅ 𝗣𝗿𝗼𝗳𝗲𝘀𝘀𝗶𝗼𝗻𝗮𝗹 𝗖𝗼𝗹𝗹𝗲𝗰𝘁𝗶𝗼𝗻 𝗦𝗲𝗿𝘃𝗶𝗰𝗲𝘀: Use professional collection services for overdue accounts to maintain cash flow. Implement above strategies to improve your cash flow and ensure financial stability. 𝗙𝗼𝗿 𝗺𝗼𝗿𝗲 𝗱𝗲𝘁𝗮𝗶𝗹𝗲𝗱 𝗴𝘂𝗶𝗱𝗮𝗻𝗰𝗲, 𝗳𝗲𝗲𝗹 𝗳𝗿𝗲𝗲 𝘁𝗼 𝗿𝗲𝗮𝗰𝗵 𝗼𝘂𝘁. #CashFlowmanagement #Manufacturingsuccess #Factoryownercoach #Timelypayments #Businessfinance #Clientmanagement #Financialstability #vishagupta #manufacturing

Do invoices take a week to be sent out? ⏰ When invoices take 5 to 7 days to be sent, disputes and late payments are inevitable.  Customers start to question charges, leading to frustration and wasted time.  Businesses end up digging through records, going back and forth between finance and the technicians, and wasting valuable resources.  If customers are supposed to pay in 30 days, they might pay in 40 or 50. These delays impact your revenue, reputation, and customer relationships. Working with leading field service organizations in the US, we see how timely invoicing eliminates these profit leaks.  So if your business is facing this challenge, I’d love to connect with you here on LinkedIn. I’m happy to walk you through our Profit Score Quiz to analyze your entire Order-to-Cash process, identify shortfalls, and share best practices.   Looking forward to connecting with you!  

💡 How to ensure timely payments from your customers? Ensuring timely payment collection from your customers can be a balancing act. Here’s how to do it without coming across as nagging or offensive: 1. 📜 Clear Communication: Set clear payment terms from the start. This sets expectations and avoids misunderstandings. 2. 📅 Polite Reminders: Send friendly and professional reminders as the payment due date nears. Show appreciation for their business! 3. 🔄 Automated Systems: Use automated invoicing and reminders to keep things streamlined and consistent. 4. 💳 Flexible Terms: Offer various payment options or plans to accommodate different needs. 5. 🎁 Incentives for Early Payment: Encourage timely payments with discounts or special offers. 6. 🤝 Build Relationships: Maintain positive communication and strong relationships with your clients. It makes handling payment issues smoother. 7. 🗂 Document Everything: Keep detailed records of all communications and payments to manage disputes effectively. Combine these strategies for a respectful and effective payment collection approach!

* Release 1.3311: Payment by invoice & focus metrics * Last week, we rolled out several updates to Columinity. The most important updates are: ✅ New customers can now choose to pay for their paid plan by invoice, in addition to a credit card or SEPA debit. Because payment by invoice entails more administrative work for us and holds a bit more risk, we add a 15 euro surcharge for each invoice issued this way. ✅ The "Teamwork Quality" model now includes a measure for "focus" and "disruptions". You can use them to get a sense of the ability of your team to work with focus. We're investigating the role of focus in effective teamwork, so this set of questions may change a little over time. ✅ It is now possible to provide a PO number reference when you sign up for a paid plan. Most Enterprise customers need this to link invoices to purchase orders. You can find the full release log here: https://lnkd.in/eNvdQxCr

Nailing the Cash Flow Game: A 3-Step Formula 🚀💸 That moment when you check your account and bam—payments from clients are all in on time. Sounds like a dream? It’s totally achievable. Here's the winning formula: Turn Payment Punctuality into Reality: 👉 1. Crystal-Clear Communication from the Get-Go: Set the expectation. When you onboard a new client, be as clear about your payment terms as you are about the value you’re delivering. It’s not just about dates; it’s about fostering mutual respect and understanding from day one. 👉 2. Personalized Follow-Up: A personal touch can make all the difference. Instead of generic reminders, a direct follow-up call or a personalized email from a familiar face can emphasize the importance of the payment deadline. It shows you value the client and the business relationship. 👉 3. Regular Account Reviews: Implement a routine check-in on account statuses. This proactive approach not only helps in identifying potential late payments before they become an issue but also allows for early intervention. Addressing concerns and negotiating solutions in advance can prevent cash flow interruptions. When Payments Flow, So Does Your Business: By adopting these strategies, you not only enhance your cash flow but also reinforce the value of every client relationship. Effective communication, personalized interactions, and proactive account management are key to turning timely payments into a consistent reality. So, step up, communicate clearly, add that personal touch, and keep a keen eye on your accounts. Watch as "on-time payments" becomes the norm, not the exception. #CashFlowMagic #OnTimePayments #BusinessGrowth #ClientRelationships

The Quote-to-Cash Process: Your Comprehensive Guide

Doing a little deep dive on billing cycles and wanted to share some thoughts (see screenshot). Think about it in terms of your own life or business... If you're paying an invoice every single month for a professional service, you're probably going to pause and think, "Did I really use this service to its fullest extent this month?" before continuing. As soon as the answer is "no" in a given month, you cancel. ❌ By charging on an annual basis, you have an entire year to provide overwhelming value to the customer/client/patient, NOT just one month. You want people to analyze the value you provide holistically rather than month-by-month.

Check out our blog post on how to negotiate payment terms with customers ⬇💬 It covers everything from key invoice payment terms, to best practices when negotiating payment terms with new and existing customers, and how to ensure timely payment post-negotiation. Swipe to see the highlights and read the full blog post here: https://ow.ly/rRQR50QFYh4