Ask your clients what their biggest frustration with running a small business is, and nine times out of ten dealing with unpaid invoices will be right up there in the top 10.
It’s not surprising given that 78% of SMEs are thought to be affected by late payments, and the average SME debt has grown to around £25,000 per year*.
While it’s something that many small businesses come to expect, we all know that late payments are not conducive to business! They create inefficiencies, reduce cashflow and can negatively impact the client and supplier relationship, not to mention that of the bookkeeper too!
That’s where Paycada comes in. Seeking to reduce aged debtors quickly and efficiently, it sits comfortably alongside Xero to simplify the process and ensure your clients get paid on time.
Say goodbye to late payment chasing emails, follow-up phone calls and difficult conversations
No one likes sending nagging emails to chase unpaid invoices or trying to track down suppliers on the phone to follow-up on late payments - you’ll no doubt have a hundred and one other tasks to take care of that would make a better use of your time.
The trouble is, the longer unpaid invoices sit on your clients’ aged debtors report, the more time, effort and resources are required to get those invoices finally paid.
Paycada is designed to simplify accounts software reconciliations and help bookkeepers like you stay on top of late payments and unpaid invoices by doing all the legwork for you.
Sitting next to Xero, Paycada will send suppliers gentle reminders, that are strategically timed and worded to encourage early payment while maintaining crucial business relationships.
What’s more, Paycada includes a personalised payment portal that enables customers to view their invoices online and pay via card or bank transfer easily and quickly simply by clicking on a link in the body of the reminder email.
Automation with the human touch
We know how important your clients’ relationships are with their suppliers; there is a really fine line between encouraging suppliers to pay for invoices in a friendly and polite way that reinforces and strengthens the client/supplier relationship, versus unpleasant communications that can cause friction and damage relations that have been built up over time.
With Paycada all communications sent can be customised to achieve the right tone for your specific client/supplier relationships and can be tailored to how friendly and personable you want them to be.
Your clients’ logo and branding can also be added to your chasing emails as well as the online payment portal so those paying the invoices know exactly who they are dealing with.
Clever personalisation, combined with Paycada’s automated reminders that can track and adapt to customer behaviour and are strategically designed to contact payees with the right prompt at the right time, saves time and simplifies the process for both you and your clients. Together, they work to increase cashflow, reduce the need for uncomfortable conversations and ultimately get your clients paid on time and with customer relations intact.
And of course, if you are dealing with a tricky supplier that continues to avoid payment, our team of professionals can go beyond the digital to chase for payment so you don’t have to.
If you’re looking for a seamless, hassle-free and friendlier way to deal with invoicing and late payments, we’d welcome a conversation – to discuss how Paycada can help just drop us a line and we’ll get in touch for a friendly, no-obligation chat.
*Statistic taken from Paycada website
