Injecting Financial Stability into Your Trades Services Business with Better Cash flow Management

 

“If you are not getting paid, your customers are treating you like a bank that offers interest-free loans” ~David Gonano

Are you a Trades Services Business owner tired of wasting your Saturdays behind the desk manually preparing and sending out weekly invoices?

Are you done chasing late payments from customers despite delivering an exceptional service?

Do you want to enjoy the freedom to manage your business cash flows while on the move?

Don’t want to find yourself face to face with the law for not being able to keep up with your financial compliance requirements?

If any of these questions ring a bell or sound too close to home, it’s about time to take a closer look at your business cash flows.

For small businesses, cash is king. Without cash, profits are meaningless and sooner or later you would be forced to shut down! In order to stay afloat and grow your Trades Services business it’s important to adopt technology driven platforms, such as i4Tradies Customer Experience Management solution that can liberate you from the worries of falling into a cash crunch.

Enjoy real-time cash flow visibility

Being able to deliver quality service is one thing, costing every minor element of it and spending hours preparing and sending invoices, is another.

If you are a small to mid-sized Trades Services business owner, you might be guilty of pushing the accounting work to a later date just because you can’t squeeze in enough time between jobs, after work hours or during weekends. Beware! Your cash flows might sprawl out of your control before you know it.

Adopting technology designed to managing your cash flows more effectively, can help you stay on top of your account receivables as and when they incur, offering you complete real-time visibility into the financial aspect of your business!

Take control of late payments

The Trades Services Industry is plagued with the unfortunate reality of late payments! It does feel a bit unfair when you do everything that’s possible to satisfy your customers with great service, only to end up chasing them for late payments afterwards!

Chasing customers not only costs you time, effort and resources, but not getting the cash on time means a dent in your business growth and your ability to run your everyday operations smoothly.

Today electronic invoicing, payment and signature capture technology has made it possible for on-the-road tradies to invoice customers as soon as the job is completed and get paid instantly with just a few taps on their mobile device!

The days when you had to wait for weeks to receive payments are finally over!

Manage cash flows from anywhere

So, you have been postponing a vacation for some time now, because you are worried that your team won’t be able to manage on its own? As a Trades Services business owner, you can’t be in the office around the clock! You got to delegate tasks and you got to take time off occasionally but not at the cost of lost business!

Being able to stay on top of your cash flows while you are on the move is something that’s no longer a dream! Advancement in technology solution for tradies allows Trades Services business owners to keep an eye on the money flowing in and out of their business from their mobile devices, anywhere, anytime. Now you can enjoy the peace of mind and the freedom to manage your cash flows on the go!

Fuel up financial decision making

Do you find yourself stuck with smaller, less paying jobs while you let the more profitable ones pass by? It’s a pity!

Not being able to prioritise jobs in order to do more in less time and improve profitability is a major concern for Trades Services business owners.

With today’s technology, it is possible to match cash receivables with resource availability and job scheduling, hence simplifying decision making that’s aligned with the overall business goals!

Prepare your business for accountability

Small businesses dealing in cash need to keep a record of money spent, received and net income to meet their legal compliance requirements. A recently announced crackdown by the Federal Government on businesses not showing the correct picture of their income in an attempt to dodge their tax payments could mean loss of business reputation and serious legal consequences.

Instead of manual bookkeeping that hardly ever gets updated, a technology driven solution for Trades Services business owners, makes it simpler to maintain electronic ledgers as soon as a transaction happens and meet their legal compliance requirement on time to avoid a potential run in with the law.

Conclusion

Nothing feels better than being able to run your own business on your own terms. However, a cash flow crisis can make it challenging for you to run a financially stable business!

Cash flow management is a major feature of i4Tradies, the next generation technology platform designed specifically for Trades Services business owners, giving real-time cash flow visibility, faster invoicing and payment collection, better flexibility and ease to meeting legal compliance obligations.

Are you too stuck in the middle of your cash flow management nightmare? i4Tradies Customer Experience Management solution can help improve you cash flows, service your customers betters and cut the unnecessary paperwork.

Feel free to get in touch with us and let us help you get started with i4Tradies!

I4Tradies, Customer Experience Management solution allows quick and simple cash flow management for Tradies, with its comprehensive integration with one of the best accounting software Xero!

i4Tradies software focused on cash flow management for Tradies allows you to create and send electronic invoices with ease and efficiently maintain your books thus freeing your time and resources you were spending doing the same work manually!

Yes, You Can Get Started Today!

Let us show you how i4Tradies can help you achieve remarkable results for your Trades Services business and your customers!

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Written by

Logan Nathan

Founder i4Tradies | Digital Transformation Specialist | Microsoft Australia Brand Ambassador