If you are running a business in UAE or are in a team responsible to collect payments, then you might have faced situations when you do not get paid on time. Late payment collections from clients reduce the flow of funds to the business and you face challenging conditions like being unable to pay the suppliers, business partners, and employees within the due date, which in turn may affect your business health and relationships.
In businesses of all verticals and of all volumes across industries, you need to get paid without delay to make money and to earn a profit, or the business will not survive.
Some proven tips to get paid without delay:
- Try to know your customers well.
- Digitize the accounting process
- Send out friendly, polite, and professional reminders,
- Accept payment in multiple forms,
- Quick and automated invoicing can ensure faster payments,
- Send out payment confirmation messages,
It is wise to take the support of a good Fintech platform to digitize and get the payments faster through automation and innovation.
What is the most effective but affordable Fintech solution in UAE?
Hylobiz, an automated one-stop Fintech platform with pre-integrated ERPs (Tally, ZOHO, Quickbooks) can record, track, and manage financial data and transactions accurately and help speed up the collection and payment of dues.
On the Hylobiz platform, the transaction cost is the lowest compared to other Fintech platforms. It offers the facility of zero settlement fees and competitive pricing, giving an affordable but effective solution to your accounting, collection, and payment needs.
How Hylobiz can expedite the payment collections process?
You can collect the outstanding balances faster professionally than ever before.
Some features on Hylobiz worth mention in connection to collections:
As a business owner, you can view a real-time dashboard on your business payment collections. Eases the job of an accountant with invoice and payment reminders automated. Eases out the job of collection staff to record on a real-time basis and automate reminders. Seamlessly integrate with your website for direct settlement to a bank account
- New business and no accounting system – Hylobiz can support with creating invoices
- Send collection links via WhatsApp, SMS and Email
- Seamlessly integrate with your website for direct settlement to bank account
- Schedule invoice reminders with customizable dates and template
- Manage payments to suppliers with real time dashboard
6. Collections are reconciled with your accounting system and invoice automatically.
SMEs, freelancers, and other businesses in UAE can enjoy unlimited collections both in online and offline mode.
With Hylobiz, you can see your business health score and take informed decisions to run a profitable business.
Hylobiz is super-fast as,
- It enables automated recording and tracking of accounts, so no missing out and no delay,
- The platform allows immediate onboarding within an hour,
- Settlement happens in just 2 business days,
- Automated reminders help get payments within due date,
- Payment collections can be through multiple mode assuring speedy recovery of dues,
Now, you can send out reminders, get the payment collections (Without payment link) even without updating your business information, and can create or upload and send invoices on the go. The platform is highly secured and accurate and supports managing the audit trail well. Hylobiz can help connect with customers or clients professionally and build a strong relationship of trust with them.
Connect with Hylobiz to get paid faster and to avoid bad debts.
To know in detail, please visit: https://hylo.biz/uae/
You can directly email us at: email@example.com
If interested, you may drop in your info, and ask for a free demo.