It’s the new year and by now, most of us are in the swing of it for 2023. We’re back at our desks, hopefully already kicking goals towards our personal resolutions for the year, and the holidays are becoming a distant memory.
Hopefully having a healthy cash flow is not also a distant memory, but the new year period can often be tough for businesses. Once the Christmas rush (if you get one) is over, business tends to slow right down and unfortunately, so does invoice payment.
If you’re feeling like your cash flow is having a slow start to the new year, we can help you get that into shape quickly.
FeeSynergy are here to make sure that you have strong and predictable cash flow every month.
Just as your gym will take your measurements and talk about goals when you start your “new year, new me” fitness regime, there’s a few calculations and implementations you can do that can have a big impact on your ageing debtor list and your cash flow.
Follow the example below and see how your firm stacks up against a typical FeeSynergy Collect user firm.
In the Example above; what this means is that 23% of the firm’s turnover is tied up in debtors at all times!
Click here to download the Average Debtor Day Calculator to see how your stats stack up.
Just imagine never having to worry about your firm’s cash flow ever again; always cash in the bank to pay wages, super, BAS, rent, tech upgrades etc.
How is this possible?
By implementing FeeSynergy Collect. It’s our automated debtor management and payment solutions platform and it ensures your average debtor days are consistently be less than 30 days. 30 days is the actual best practice benchmark for the hundreds of leading accounting firms who utilise the FeeSynergy Collect platform.
For many accounting firms, the thought of adding another app into the firm’s tech stack can be daunting. FeeSynergy Collect however is “not just another app”, it is a platform that brings together a range of integrated solutions to problems common to most accounting (and legal) firms.
FeeSynergy Collect will positively impact the firm’s financial performance well beyond cashflow. And when it comes to implementation, our experienced implementation team will manage the project from start to finish to ensure that your team is fully trained and ready to capitalise on the new automated processes and a range of payment solutions that will keep the cash flowing irrespective of the time of year.
Our proven and highly secure platform is used by hundreds of leading accounting firms across Australia and New Zealand.
See the FeeSynergy Collect features below:
- Fully integrated with leading practice management systems including Access HandiSoft Cloud, Lexis Nexis Affinity, APS, CCH iFirm, GreatSoft, File Pro, MYOB AO/AE, MYOB Advanced and Xero
- Rich dashboard with plenty of data widgets to choose from
- Automated reminders for overdue invoices (customised)
- Online payment gateway – credit cards and debit cards (incl AMEX) PCI/DSS and ACCC compliant
- Fee finance with option for client self-service (monthly instalments with lowest rates in industry)
- Direct debits – multiple use cases (only $0.30 each) BECS compliant
- Engagement letters and proposals (APES & TPB compliance made easy)
- Risk management and business advisory tool (including Equifax credit scores)
- Digital signatures – multiple signature capability ($free)
Implementing our solutions is easy … we pretty much do all the work … so book a free demo today and see the difference FeeSynergy Collect can make for you.
