AR Cash Flow provide the customers, some tips on how to get invoices paid quicker and improve the cash flow. As a factoring provider, AR Cash Flow are an expert in getting the invoices paid first.
The following are the tips provided by AR Cash Flow to get invoices paid quicker:
- Check to make sure about the correct person in the company, who is supposed to approve the invoice and make sure to send the invoice directly to that person for approval.
- Ask the customers if they are happy with the invoice and if it is approved for payment. Make sure the invoice is in the correct format. This means to make sure that it has a purchase order on it, if that is required.
- If trading terms are 30 days and the company has not received the payment as promised, give the customer’s accounts department a call to find out what is delaying the payment. It is at this point, the customer might find out if they have lost their invoice or if there is a problem.
Some of AR Cash Flow clients are a little reluctant to follow up on overdue invoices. AR Cash Flow take the view that if a company has fulfilled the promise as a supplier, then the customer should deliver on what they promised to give in return, the payment within a specific time frame.