Every business owner is rightly concerned about cash flow.
It is not uncommon to see profitable business fail due to poor cash flow.
Yet it never cease to amaze me how little tweaks in a business can deliver dramatic results.
Take the case with one client last week. In our annual general meeting, our analysis software uncovered, amongst many other things, that the business’s cash flow would improve by $8,753 for every day they got they reduced their debtors’ turnover. In their case, this meant having all debtors pay on average with 33 days from the date of being invoiced, not 34. Not much of a change for a big result.
Imagine if they found ways to have their debtors pay on average 10 days earlier. That would mean that they would have an extra $87,530 in the bank at any one time!
For some this could have flow on effects by paying less or now overdraft interest.
We have dozens upon dozens of ideas and ways in which to improve debtor receipts gained from our many years of experience of dealing with many clients in a variety of industries.
We would welcome the opportunity to explore the way in which we can help you. And as our first meeting is free, you nothing to lose – and potentially a lot to gain.
At MRS, we will spend today planning for your success.