Video Transcript
Management of your debtor ledger is absolutely critical to the ongoing success of any business. Because if you send off an invoice, you deliver your goods or service, you send off the invoice in anticipation of being paid in, whatever your agreed credit terms are, which might be 30 days later. And 30 days come and the payment doesn’t come in and then you start chasing it. Well, that’s yeah, you’ve just wasted 30 days. Much better to have implemented a procedure or a process which can all be automated through your accounting platform. So that as soon as you send off the invoice, a few days later, It’s followed up with another email that say: “I just wanted to confirm that you received that invoice and that it is in your system for payment.” And then a week before the due date another email goes off to the debtor, their customer saying “invoice is due for payment next week, just a courtesy reminder that it’s in your system for payment.” So that there’s been two reminders along the way. Should that debtor payment not come, you’ve got that back up to say, “well, I did remind you twice.” and then they can’t fall back on “we never received the invoice.” Which is a pretty standard excuse in the business world.
Who is OptiPay?
OptiPay, one of Australia’s leading business finance providers, has been dedicated to helping small business owners solve cash flow challenges for over a decade and has provided $1.5 billion in business funding to more than 500 Australian businesses. OptiPay specialises in modern financing solutions such as invoice factoring, invoice finance, debtor finance, and lines of credit. OptiPay’s mission is to support business growth providing liquidity in as little as 24 hours, ensuring they have access to tomorrow’s cash flow today. This rapid access to funds helps businesses maintain smooth operations and seize growth opportunities without the stress of cash flow constraints. At OptiPay, we believe that healthy cash flow is the lifeblood of any successful business. Our commitment to helping businesses overcome financial hurdles and achieve their growth ambitions has solidified our reputation as a trusted partner in the business finance sector. Whether you are looking to stabilise your cash flow, expand your operations, or navigate financial challenges, OptiPay is here to support your journey with innovative and efficient financing solutions.
