11 strategies and templates to improve your invoicing and collections process

Struggling with cash flow? You're not alone.

82% of business failures are down to problems with cash flow (US Bank), and 8 out of 10 entrepreneurs who start businesses fail within the first 18 months of trading, with cash flow issues cited as the main reason for failure (Hiscox and Bloomberg).

Late payments are one of the main reasons for cash flow problems in SMEs. In the UK alone, 50,000 businesses fail each year due to late payments and their negative impact on cash flow (FSB).

Without healthy cash flow, you are unable to pay bills, invest in new opportunities, and grow your business effectively. So why continue to suffer with poor late payments and cash flow?

In this guide, Xero and Chaser outline practical strategies for optimising your invoicing process, speeding up your payment collections, getting cash in faster, and improving cash flow.

See your invoicing process get simpler, disputes and queries reduce, and payment times speed up by following the actionable strategies in this guide.

The impact of cash flow on your operations
Best practice guidance for creating and sending invoices
How to choose your payment terms and due dates
How your payment follow-up speed impacts your collection rates
Suggested payment reminder schedules
How to identify customers who are slow to pay
Strategies to improve your payment collection rates
How to encourage good payment behaviour
How Xero and Chaser can support you

11 strategies and templates to improve your invoicing and collections process

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See your invoicing process get simpler, disputes and queries reduce, and payment times speed up by following the actionable strategies in this guide.

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