Saving Time with e-Invoices
July 24, 2013 – Small Business Growth Alliance (SBGA) announces another profit-driving tool designed to assist businesses in reducing the average age of their Accounts Receivables.
As part of its on-going effort to bring high performing accounting solutions to its members, SBGA has made an e-invoice solution available to assist with the reduction in the average amount of time it takes a business to secure its outstanding accounts receivables. By using the tool, businesses can send electronic invoices to their customers, with a link to click for payment. When a customer is prepared to pay their invoice, they simply click on the inserted link, input their corporate card number, and the invoice payment process is complete.
This innovative approach to managing accounts receivables eliminates the need for paper statements, paying for postage, and waiting extended periods of time for invoices to be returned with payment. It is also a great tool for assisting customers with paying for bills when current cash flow demands might otherwise delay payment. By using the e-payment link to facilitate payments, businesses can cut their accounts receivables average payment schedules from four to six weeks down to a number of days, thereby vesting increasing cash flows.