Business Victoria recommends “Rather than insisting on payment upfront, businesses should work out how to spread payments over a reasonable time span, ensuring regular cash flow. Customers appreciate spread out payments, and are less likely to default on payment mid-project if terms are more manageable.

Of course one of our cash flow tips is about allowing customers flexibility with payments.  We see many businesses benefiting from using our direct debit payment solution.  Not only is this a cash flow solution, it is also good for sales and retention.

At Ezypay we even offer a direct debit gateway that allows your customers to initiate their own recurring payments from their bank or credit card.  So now you can make sales via direct debit without even getting out of bed.

Follow the 31 day Cash Flow Challenge here and on Facebook.

Related posts:

1. 31 Day Cash Flow Challenge Day #16 – Don’t forget about Pro-rata Payments
2. 31 Day Cash Flow Challenge Day #5 – Carefully budget payments for essential expenses
3. 31 Day Cash Flow Challenge Day #7 – Set your credit term carefully