Improving your Cashflow in 2022/23

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Welcome to FY2023! Sadly not the sort of start to the new financial year that we had all been hoping for. With rising interest rates and economic uncertainty, the next 12 months are going to be a challenge for small businesses right across Australia and New Zealand. 

At FeeSynergy our mission is to ensure that our accounting and legal clients in both countries are well positioned to weather such storms and continue to enjoy strong and predictable cashflow month to month.

If your accounting firm is heading into FY2023 with a depleted bank account and rapidly ageing debtor ledger then the good news is that you can do something about it.  

Do you know how to quickly calculate your average debtor days? 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

Just imagine never having to worry about your firm’s cashflow ever again; always cash in the bank to pay wages, super, BAS, rent, tech upgrades etc. 

How is this possible? 

By implementing FeeSynergy’s automated debtor management and payment solutions platform (called FeeSynergy Collect) your average debtor days should 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 APS, CCH, GreatSoft, MYOB 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. 

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