Posted 02/04/2019 by Patrick Leavy
It’s Friday afternoon and a client is in panic mode and sends us a message:
Does this sound familiar?
So, what are the options here?
We can either think “nah, it’s fine, he’s got no need to worry, we’ve seen the figures”, or we can think “they really need to be reassured, and we must remember that they’ve only looked at the bank, and not all the other that data we have”.
Which option do you think we pick at Farnell Clarke?
That’s right, we get straight on a screen-share and show our client the cash forecast in Float. They’re a bit surprised that a face appears on their screen so suddenly! We demonstrate that we’ve already plugged in all those figures and they will most likely not run out of money in that period.
Our client is reassured but still a little uneasy:
We can see that their credit control software, Chaser, is starting to show real results, and we are making calls to those that are persistently late. Customers are now paying much closer to or within terms. By explaining this to the client ensures them that everything is in hand.
We suggest that we can also get a good proportion of their clients paying via Go Cardless so at least that proportion of customers will be paying on time every month which will dramatically help cashflow.
For this particular client we then went one step further and told them that if it really comes to the pinch, we have services such as Capitalise on hand to provide invoice financing at fair rates.
Result: Within 5 minutes our client was more relaxed and could enjoy their weekend. With such a quick response they were reassured by the range of cash management options that we have available to them.
If this all sounds a bit too familiar, then get in touch and we can have a chat about your business and improving your cashflow.Back to Blog