Cash is king. And in the world of small business, it’s cash flow that truly reigns supreme. In fact, as many as 60% of small businesses fail not because of lack of sales, but because of a cash flow shortage.
You can (and should) use all the weapons at your disposal to slay the cash-flow dragon every small business has to face, but let’s start with accelerating accounts receivables. As a small-business owner, you are a Jack (or Jane!) of all trades, and your time is valuable. Is there a quick, painless step you could take today that could help you accelerate receivables and improve short-term cash flow?
In this post, two small businesses explain how they used ShareFile to do just that.
Both these small businesses report that ShareFile has enabled them to not only speed up cash inflows, but also actually made billing easier and more convenient for them and their customers alike.
Let’s start with Courtney Sign & Lighting, a small business based in Indianapolis. They partner with large national sign companies whose customers are large retail and restaurant chains, providing local sign service and installation. Before Courtney Sign & Lighting can get paid, they must provide strong documentation that the local installation or service work is complete.
“ShareFile provides us with a streamlined billing process. Our technicians in the field simply photo document their service call or installation project and upload the pictures to ShareFile before they leave the job site, often directly from their own mobile device,” said Jody Courtney of Courtney Sign & Lighting.
“Prior to finding ShareFile, we were constantly struggling with our billing process, because sending completion documentation was a nightmare! With ShareFile, billing can now literally be accomplished the same day, enabling us to send invoices and collect payment faster.
“As a bonus, ShareFile makes our small business look very professional in front of these large retail and restaurant chains, and all of our customers have expressed how easy this new system is to use!”
And then there’s Peterson Business Services, an accounting-services consultancy in Vancouver, Washington. ShareFile has helped them drive revenue, increase productivity by 35% and better manage receivables.
Owner Kaydee Peterson attributes the company’s new clients and improved cash flow to the ShareFile professional custom-branded portal and user-friendly interface. “We cannot accurately estimate or bill for a project until we get all the financial information required from our client. Without offering our customers an easy-to-use solution like ShareFile, our ability to accurately forecast cash flow and time management would absolutely take a hit,” said Peterson.
“ShareFile enables my accounting firm to increase revenue, raise productivity and improve cash flow. It’s a win-win for me and my clients.”
Ready to don the ShareFile armor and slay the cash-flow dragon? Start your 30-day free trial.*
*Brave white horse not included.