Payment Monitoring Boosts Cash Flow

A functional strategy, efficient production, competent administration, smooth logistics, and marketing and sales that reach chosen customer segments—these are examples of the core pillars of a successful company's operations. However, the central engine of business operations—regardless of the industry—is efficient cash flow.

Take care of your cash flow's efficient circulation with the measures listed below:

1. Confirm your company's invoicing terms

Define the payment terms to be followed in your organisation when closing deals and familiarize yourself with new customers' credit information in advance, so you can manage credit loss risks and make informed decisions, for example, regarding advance payments.

Agree with your customer on the pricing of delivered products and services, invoicing terms, and, for example, the applicable penalty interest. By using a written format, you avoid subsequent disputes that could arise from misunderstandings or imprecise communication.

2. Invoice efficiently and state payment terms clearly

Send the invoice as soon as the agreed delivery is completed or the service is finished. Use an automated printing service or send invoices in electronic form.

When using Kravia's invoicing service, invoicing is cheaper than traditional invoice printing, enveloping, buying stamps, and taking letters to the post office. From Kravia's system, you can send invoices as paper, email, or e-invoices. If you wish, you can naturally also print the invoice yourself.

Add a due date and penalty interest to the invoice according to the payment terms agreed with your customer, and let automation take care of sending the invoice to your customer on your behalf.

3. Remind about overdue deadlines

Efficient cash flow circulation is based on automated payment monitoring. When you send your invoices through our invoicing service, the system automatically tracks incoming payments and sends a reminder on your behalf if your customer's payment is delayed. You free up resources from payment tracking for other productive work.

Ask us how we can work together to boost payment collections!

4. Confirm the process for recovering delayed receivables

It is important to decide in advance what happens when a payment is delayed. Define the measures to be followed beforehand in a way that applies to your entire invoice portfolio.

After one or more sent payment reminders, you can rely on Kravia's phone collection or a written payment demand sent by our invoicing service. In B2B debt collection, you can also use an effective recovery method, a draft (tratta). For receivables that remain open after collection actions, we recommend legal debt collection.

5. Utilise automation to ensure the best result

The entire process for the efficient collection of your receivables portfolio can be automated, regardless of how you want to intervene in delays.

The size of your company doesn't matter—the efficient payment monitoring services offered by Kravia are suitable for businesses of all sizes. Our services do not require hardware investments, and we do not charge license or annual fees for our system!

With efficient tools, you ensure optimised progress that applies to your entire invoicing portfolio without any workflow steps requiring manual labor.

Get in touch so we can boost your cash flow circulation too!