How Cashflow.io prevents late customer payments

Late customer payments are causing annoyance and financial hardship for small-to-medium businesses (SMBs) across the globe. According to research from Hitachi, over 60% of SMBs are affected by late payments – with 35% resorting to short-term loans to stay in business. 

This is leading to increasing costs as companies and freelancers have to chase payments, reducing your capacity to take on new work. Cashflow.io believes there should be a better solution to this. 

Let’s explore how Cashflow.io is perfectly positioned to help you automatically chase customer payments and touch on the benefits of timely payments for your business. 

What is Cashflow.io? 

Cashflow.io is a cloud-powered suite of back-office tools designed to streamline and automate sending and receiving payments and receiving same-day financing options for future orders.  

It is designed to help small-to-medium businesses take back control of their cash flow and customer payments using smart automation tools to reduce costly late payments. Cashflow.io believes you should spend more time growing your business, not managing mundane aspects like payments and finance. 

Here’s how it works:  

Firstly, Cashflow.io facilitates easy payments from customers by credit card, bank transfer and more. All you’ll need to do to get started is connect the service with your payment provider of choice. 

Then, Cashflow.io will let you set automatic payment terms for orders. Once you’ve created a payment order, Cashflow.io will send an invoice and payment offers to your customer for them to agree to these terms.  

To incentivise on-time payments, Cashflow.io allows you to offer discounts for early payments. Late payments represent a huge burden on small businesses – with a huge amount of resources being used to chase up lost payments and debts. 

On-time invoice payments is crucial for good levels of cashflow. This ensures that all of a company’s obligations (staff salaries, loan repayments, inventory costs etc.) are paid, even if business takes a downturn. 

If you’d prefer, you can offer ‘pay later’ in instalment plans directly through Cashflow.io. This helps lower the burden on those customers most likely to delay payment – and allows you to gain a pricing edge on competitors without affecting your bottom line.  

Cashflow.io will connect your customers with instant same-day financing options to make payment easier for them and ensure you get your cash straight away. 

Once these terms have been accepted, the Cashflow.io system can prompt customers to set up pre-authorized direct debits. This allows you to get paid automatically for each deliverable – with no chasing up or drafting up new invoices or emails.  

Benefits to you:  

With Cashflow.io’s smart automation, you won’t have to spend ages chasing up individual customers for late payments. Customers will receive automatic due date alerts and the app will directly debit their account if possible. 

This helps you optimize your cash flow as you will know exactly what’s going in and out of your business at any time. This is likely to reduce your reliance on short-term loans to fix cash flow uncertainties. 

For your customers, Cashflow.io delivers a better customer experience and lucrative new financing and payment options to alleviate their financial concerns. For you, this leads to increased profitability by reducing the cost of chasing payments, potential legal action and lost productivity. It’s a win-win for everyone!  

Get started  

So, what are you waiting for? Get started with Cashflow.io for free! This trial tier gives you 25 free transactions a month or $25,000 in volume – whichever you meet first. 

Once you’re ready to transition over to Cashflow.io as your main payment wizard, you can get started for as little as $50 a month – or go ‘Pro Unlimited’ for $100 a month. There are zero integration costs and no long-term commitments or contracts.  

Get started today at cashflow.io/signup and liberate your business from late payments for good!