Talking about healthy cash flow on Q Radio
Peter Switzer, from Talking Business on Q Radio talks to Trent Brown, Ezypay CEO about healthy cash flow.
Trent Brown is the CEO of Ezypay and has worked in numerous roles in human resources, operations, and executive roles in the manufacturing, marketing and the business process outsourcing industries. Ezypay is an outsourced direct debit provider, and Trent argues that healthy cash flow will help business through the financial downturn.
Talking about healthy cash flow on Q radio with host Peter Switzer
On Talking Business on Q Radio, Peter Switzer asked what the big lessons are for businesses in terms of cash flow.
“Look what we find constantly is people delaying invoicing. We say, act fast and act on time. Every day that you actually delay putting an invoice out is another day you have to wait for that cash flow to come in, and I thin statistics are something like the average 30 day terms that are put thee is taken for people to get paid”
Peter Switzer then followed up with the questions: What’s the thinking there? When you need money you delay invoicing?
“ I know it’s incredible. I think it’s just people think I need to write the business, but they never think of the backend processes. They’ve focused too much on the sales process but they actually forget really what needs to occur is that you need to get paid. Probably another piece of advice is, get to know your accounts payable person in the business, they’re the forgotten person. Usually you go in, you get your key contact, you show them a lot of love and then you forget the person that’s paying your bill, when realistically the person you should be sending the birthday card to is the accounts payable person.”
For more of the discussion, you can read the full talk here.