Upflow - B Smart Interview - October 2020

During this interview; we discussed the challenges of digitizing payments and solving late payments for B2B companies in the current crisis.
Key takeaways we can share:
1/ 🕊 Hope: Late payments are NOT a fatality. Any business can improve cashflows, even in this environment. We've seen users reducing overdue invoices by 50% in the middle of the crisis. Become one of them 💪
2/ 📊 Measure: business decision-makers need to get a good grip on their accounts receivable. Know your DSO and write-off %. Share it internally. Identify the issue today. Too many businesses navigate blind. 🙈
3/ ⚙️ Processes: don't let any unpaid invoice behind, get systematic processes in place to track your A/Rs, and align your wider team around it (finance, sales, success, executives). Help your customers pay you with modern payment methods ⚡️ : not only your good old wire transfer or checks 🧙‍♀️, also enable direct debit with GoCardless, card with Stripe, etc. The more payment methods, the faster you get paid.
Thanks for the invite BSMART and thanks to our tech partners moving the finance world in the right direction: QuickBooks Chargebee Stripe Xero NetSuite 🚀