Reading time 7 min read
Practical tactics that get invoices paid faster without souring customer relationships, plus the cash flow ratios worth tracking weekly.
Cash flow problems sink more profitable businesses than unprofitable ones. The biggest lever for most SMEs is collecting what they have already earned faster.
What works
- Invoice on the day work is completed, not at month end.
- Offer multiple payment methods including local transfer rails.
- Send polite reminders on a fixed schedule.
- Escalate to a call once an invoice is more than fifteen days late.