During these difficult economic times, it’s more important than ever to ensure we are paid promptly. After all, our survival depends on our cash flow. As part of the monthly audio program Business Essentials Trent Brown – Ezypay CEO give us advice on how direct debiting can help manage your debtors.
Interview highlights on how direct debit can help manage debtors
- Have a cash flow statement and always match expenses against cash
- Act fast with invoicing
- Look for ways to increase cash and reduce debtor days – we suggest direct debit
- The reduction in bad debts generally pays for the cost of direct debiting
- Direct debit promotes financial stability
- Don’t be afraid to ask customers to pay by direct debit – many prefer it
- Ezypay was founded because of gym membership problems – the business grew dramatically as a result
- Ezypay offers information and a suite of solutions to help manage finance
- Trent’s keys to success: know your numbers; trust your cape; always ask ”WHY?”
Listen to the interview to learn how you can manage debtors to keep your cash flow balanced.