HindSite Software provides service contractors four basic steps to help them better manager their cash flow.
St. Paul, MN (PRWEB) April 27, 2012
The field service software company has recently been writing a "success blog" to provide ideas, tips, and practical advice to help field service companies get control of their business and succeed. HindSite's most recent blog post entails four steps to help companies have a better cash flow.
A small business is completely based around it's cash flow. They rarely have large amounts of money in savings to run the business off of for an extended amount of time, so receiving payments from customers when they are due is a necessity for survival. Plus, repairs, buying materials, and payroll cannot be handled properly if there is not a continuous flow of cash coming in.
The article is mainly focused on the seasonal business with predictable peaks in the amount of work that is being requested -or demanded- by customers. Many of the small to mid-size businesses in this segment particularly struggle with cash flow at the beginning of these seasons since they have incurred heavy costs but have yet to receive revenue for the related work. However, the tips and suggestions in this blog post are meant to be useful for any business manager trying to get a better hold on their cash.
The blog covers several key areas that can often have a large impact on cash flow management, including:
1. Setting up Service Contracts
2. Accepting Credit Cards
3. Requiring Payment On-Site
4. Creating a Cash Flow Report
The HindSite Solution has helped contractors better control and grow their business with service management software since 2001. Designed by an irrigation contractor, HindSite assists service businesses with scheduling, contact management, field data collection (e.g. mobile time tracking), and invoicing in QuickBooks®, Sage Peachtree® and Simply Accounting®. This paperless work order system has been proven to increase efficiency and organization, meaning greater profit potential with less administrative time for HindSite contractors.To read more about contractor business tips, go to http://success.hindsitesoftware.com