Ezidebit keeps cash flowing for business in tight economy
Electronic payment powerhouse Ezidebit is keeping the cash flowing for businesses in the tight economy, and EziDebit CEO Charlie Holland is urging businesses to be more vigilant about getting paid on time and to keep the cash flowing.
The company is finding itself in big demand in light of a recent report conducted by ASIC (Report 132, 2008) which showed 40 percent of Australian businesses fail because of inadequate cash flow.
““One of the leading reasons why many SMEs in Australia fail is because of inadequate cash flow, not profit, and in the majority of cases this is because customers don’t adhere to billing periods, be they seven days, 30, 60 or longer. A critical mass of outstanding payments can be the closure calling card for businesses of all shapes and sizes,” Holland said.
According to Holland, the childcare and fitness sectors, made up of businesses with historically poor cash flow and payment cultures, have in the past three years been quick to work with Ezidebit to effectively transform the way they facilitate client payments, manage cash flows and ease administration costs while ensuring client support.
Holland is urging businesses to follow suit and take a closer look at their finances.
“Businesses need to practice good cash flow management to keep money flowing in a positive direction.”
Electronic payment powerhouse Ezidebit is keeping the cash flowing for businesses in the tight economy, and now Ezidebit CEO Charlie Holland is urging businesses to take a closer look at their own finances.
The company is finding itself in big demand in light of a recent report conducted by ASIC (Report 132, 2008) which showed 40 percent of Australian businesses fail because of inadequate cash flow.
“One of the leading reasons why many SMEs in Australia fail is because of inadequate cash flow, not profit, and in the majority of cases this is because customers don’t adhere to billing periods, be they seven days, 30, 60 or longer. A critical mass of outstanding payments can be the closure calling card for businesses of all shapes and sizes,” Holland said.
According to Holland, the childcare and fitness sectors, made up of businesses with historically poor cash flow and payment cultures, have in the past three years been quick to work with Ezidebit to effectively transform the way they facilitate client payments, manage cash flows and ease administration costs while ensuring client support.
Holland is urging businesses to follow suit and take a closer look at their finances.
“Businesses need to practice good cash flow management to keep money flowing in a positive direction.”
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