Friday, September 25, 2020

Better communication leads to better cash flow

Rule #1: Cash is King | CPA Practice Advisor
As with any business Cash is King, and optimizing cash flow is an important step to running a successful business. To illustrate, when cash is tight here a three major negative impacts. Using the MDS-Nx Customer Payment Portal 
You can now accept payments 24/7 using credit cards with a built in fee or No Fee ACH allowing you to get paid electronically, removing the "Check is in the Mail Syndrome" and any lag in accounts receivable. 
(quick tip if you are not already an MDS-Nx client you can sign up for free ACH with melio and take advantage now) 

Late Payments

Best Practices for Talking with Creditors about Late Payments | Green Dot  Blog
Cash is needed to pay your company's expenses and bills. If you don't have cash in hand, you may be forced to take on additional loans or make late payments. This can lead to late payment fees on utilities or debts. Additionally, your late payments negatively affect your business' credit rating and impact your ability to get credit account privileges and loans in the future.

Slow Growth

Still stuck in slow-growth mode |
Even if you pay your bills, restricted cash flow gets in the way of advancing your business through investments. You may miss out on opportunities to acquire new buildings and assets at good price points, hire new employees or consultants who offer expertise and talent, get bulk discounts on supplies and pay for services your business uses. Slower growth can lead to low employee morale and looks bad to company owners or shareholders.

Discounts to catch up

Increasing Your Revenue without Actually Selling
Cash flow issues can lead to a downward spiral, especially as it relates to your marketing efforts. First, one of the budgets companies often cut when cash is tight is marketing. This means you won't have as much money to invest in advertising to attract customers. Plus, if you start offering sales discounts to generate cash and improve your situation, you can effectively diminish customer perception of your brand's value. This can have very negative long-term impacts on your pricing and revenue potential.

So what are the best ways to control your cash flow to you benefit?

Our belief is that Better Communication leads Better Cash Flow, to facilitate better communication web based tools have made that payment process much more streamlined and efficient.  Utilizing the MDS-Nx System you now have access to 5 new Remote net Portals. Each portal is a piece of the Remote net Ecosystem and allows for different tools to communicate more effectively.

More than just Ecommerce these portals enable better and faster communication 24/7 via the internet. 

MDS-Nx Portals Available 

  • Salesman Access Portal

  • Web Based CRM Portal

  • Track and Trace Portal (Pharmaceuticals or Proof of Delivery)

  • Customer Payment Portal

  • Remotenet Vendor Portal

MDS-Nx Customer Payment Portal

Ready to get paid?  

For more information on TSH or MDS call The Systems House, Inc. at 1-800- MDS-5556.
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