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The efficient management of invoices and collections of payment links for customers on time in a business are the key requirements to last longer in the market and to stay ahead of the competition.
Your business’s cash flow gets badly impacted if your company’s invoice collection gets delayed.
Sometimes it might apparently appear that an invoice of a small number of remains unpaid, would not disturb the cash flow. However, this is not the case.
If for instance, the number of unpaid invoices increases, the amount outstanding keeps powering up.
Consequently, in such extreme situations, the cash flow gets adversely affected, the vendor payouts, salary disbursement, and other essential operational expenses get difficult to manage and the company fails to maintain a good relationship with clients and vendors finally business suffers a premature halt.
Challenges in the Invoice Collections Process
- Manual invoicing
- Delay in invoicing
- Difficulty to remember the due dates
- Chasing for invoices
- Difficult to track payment collections
- Handling multiple ERPs and accounts
- Manual reconciliation
- Difficulty in sending out reminders
- Distant collections
- Limited mode of payments
Are you tired of all or any of the above challenges? Businesses across all verticals and industries can boost invoice collections with Hylobiz. Let’s tell you how. Visit: https://hylo.biz/in/
Automate Invoice Collections, the Hylobiz Way
Hylobiz, an ISO-certified fintech, is a disruptor in the fintech and financial space. We are serving the B2B value chain and are currently operational in India, UAE, and Oman. We would soon launch in the US market.
Businesses of different sizes and scopes sign up and engage on the platform to digitize and automate their business processes. Paper-based processes are labor intensive and involve errors.
Hylobiz can automate vital processes like invoice management, payments, and collections, and more.
You can seamlessly integrate your existing ERP and account with Hylobiz and get your data and transactions tracked accurately in real-time.
It is pre-integrated with top ERPs. Any business registering on Hylobiz is onboarded immediately.
The platform allows you to create an invoice quickly without lifting your finger after a credit sale is made. You can also upload invoices/bills from the existing accounting system in just a few clicks.
The automated reconciliation, digital ledger, and automated reports in real-time allows easy understanding of the receivables’ status and ensure that no invoice is missed out.
The integrated payment gateway enables you to get paid on time. You can track payments on the go. You can glance at the business insights on the real-time dashboard and make informed business decisions easily.
We support your e-Way bill and e-Invoice compliance, support improved cash flow control and ensure you face audit trails more confidently with a better level of transparency in transactions.
Create Payment Links can Boost Invoice Collections
The payment link can be used for collecting pending amount and can initiate immediate collections.
How do the payment links work? You can generate both invoice linked and online payment link and send outhem over multiple communication channels like WhatsApp, SMS, and email.
Your customers can get notified and pay you on time through the payment link via multiple payment modes like net banking, UPI, credit card and debit card.
The static payment links allow you to collect a fixed amount from multiple clients at repeated times. The automated reminders can be customized to send out reminders at set time, and you get paid well within due date.
The payment links enable quick contactless payment collections instantly and help you get relieved of manual chases and difficult distant collections.
Steps involved
Step1: Generate payment links
Step2: Send payment links to customers via SMS/Email/WhatsApp
Step3: Get paid immediately
And it is simple and effective. The platform is safe, and your transactions would be secured. We provide 360-degree support to make your business journey with us hassle free, and reliable.
Interested to know more? You can email us at: hylosales@hylo.biz
Automate your invoice collections now and enjoy better cash flow.
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