Smart business: Invoicing with payment plans

StuartBusiness Process, Business Technology, COVID19, General

In a world where the concept of “normal” has been redefined, the year 2020 has taken us all by surprise. The way we work, do business and operate have changed. The way we shop has changed. The way we pay has certainly transformed, even before 2020 brought bushfires, floods and coronavirus.

One of the key business challenges identified by Deloitte (COVID-19: Managing supply chain risk and disruption, June 2020) during these unprecedented times is the focus on the cash conversion cycle.

Business conditions have radically transformed and cash has become king once more, well cashflow at least.  Under normal business conditions, companies primarily focus on profit and losses. As operations have been disrupted, routine back-office activities such as paying bills and turning receivables into cash are vital to business success.

Introducing MoneyLoop a proprietary receivables management system that allows a business to issue invoices with payment plans included. Forget waiting for 30, 60 or even 90 days before debtors pay and encourage cash to flow freely through your business giving oxygen to business owners.

A suitably smart platform, MoneyLoop ensures instalments are paid on time by employing both behavioural economic and nudging techniques via a completely automated process.

If businesses have invoices that are currently overdue, they can automatically issue payment plans, getting those invoices paid without the need for businesses to spend days and valuable resources chasing these pesky invoices.

To learn more visit www.MoneyLoop.com.au, or contact them on 1300 339 993.