Maintaining control of cash is vital for business success. Automating the accounts process improves accuracy, increases visibility and frees up time for more profitable work
Keeping track of company spending is crucial but also a huge challenge, with more than 80% of failed small businesses conceding that they collapsed because of cashflow problems.
There are, of course, tried-and-tested ways to improve cashflow, such as renegotiating deals on rent, utilities and insurance. Invoicing promptly can also speed up cash coming in, while not paying invoices too quickly means money stays in your account longer.