In today’s challenging economic environment, companies that don’t have a firm grip on their cash flow will eventually go out of business, regardless of how innovative their products and services are. This is the view of Louise De Azevedo, solution owner of Centric NetSolutions (CNS), a member of the Centric group of technology companies.
“As a company grows, processes that were simple and inexpensive when the business was in its infancy become increasingly complex and time consuming, which can impact cash flow.
“Employing more people to manage these processes may seem like a good idea at first, but the cost of the additional staff will escalate over time and place further strain on the company’s cash flow.” The solution, says De Azevedo, lies in automating business processes that significantly reduce organisational bad debts, consequently enhancing cash flow.
The cloud-based product suite offered by CNS comprises a secure online invoicing, payment retrieval and distribution solution that is specifically geared to streamlining administrative processes.
“Each of the five engines in the system provides an excellent return on investment through the cash flow gains and cost cuts achieved,” De Azevedo explains.
- NetCollect enables businesses to collect any invoiced amount on any day from any number of customers.
- NetDebt helps businesses manage debtors whose debts may require payment terms.
- NetBill distributes the right invoices to the right people at the right time, ensuring that the business receives payments due accurately and efficiently.
- CentricPay enables businesses to accept credit and debit card payments from customers, no matter where in the world they are transacting.
- NetSplitPay enables complex transactions to be paid into multiple accounts automatically.
According to De Azevedo, the CNS product suite is particularly beneficial to businesses with recurring invoicing and collections of similar amounts, as well as those requiring split payments based on unique and complex business rules.
“Besides the cash flow boost which stimulates business growth, the CNS suite helps to significantly improve the accuracy and reliability of transactional controls and data, which reduces the potential for fraud and human error. Consequently, the business achieves an excellent return on investment right from the outset.”
“By ensuring peace of mind around the crucial aspect of cash flow, CNS enables businesses to focus on the passion that originally inspired their establishment, as well as what’s important operationally to achieve their vision,” De Azevedo concludes.