In many cases, clients who haven’t paid your invoices have a reason for doing so. xocashflow gives them the ability to voice that reason by presenting three trigger responses. With a single click, clients can indicate that the invoice has been paid, can lodge a dispute or can request a fresh copy of the invoice.
Here to help you
Positive and steady cashflow is the lifeblood of every small business. In today’s economic climate particularly, having a tool that provides a sense of consistency in the following up of overdue invoices is invaluable. While emailed reminders are not the entire story when it comes to debt collection, they form a key element that will help to filter and reduce your list of debtors to chase by other means.
Your time, and that of your team, should be invested into productive, high-value activity. Taking a couple of days a month out of your schedule or that of your PA or accounts receivables officer just to chase small debts via email is a thing of the past. xocashflow allows you to free up this time so as to either reduce your costs, or to enable your staff to engage in higher level activity.
Stay on track
xocashflow works in the background to keep in touch with your overdue customers in a polite manner, while you measure its effectiveness by way of activity reporting and response rates. This gives you the opportunity to test different messages and different timing combinations to see what delivers the most optimal results for your business.
Snapshot reports produced within xocashflow let you know how many emails have been sent by the system in a particular day, and what is the total value of invoices referenced within those emails. You’re also able to quickly see what responses have been provided by customers, if they clicked on one of the three quick-response buttons within your emails.
Support for multiple users
COMING SOON (XO GOLD ONLY). You may wish to view your reporting dashboard each morning, while inviting a bookkeeper, accountant, business advisor or other staff member to access the account for their reference. xocashflow makes this possible, thus enabling you to lock out any users who no longer need to have access and to control which parts of the system each user can access.
Works with Xero
xocashflow works only with the Xero online accounting package at present. If you’re not yet using Xero, check out their website here. The team behind xocashflow has no affiliation with Xero other than being third-party application developers, but we use the system ourselves and absolutely love it!
Improve your cashflow
Chief among the benefits offered by xocashflow is an improved cashflow position. While there are many factors that go into that, making it impossible to provide guarantees around performance, it goes without saying that being in regular contact with overdue debtors and providing a simple mechanism by which barriers to payment can be overcome, your average debtor days should drop while using this system.
The xocashflow user interface has been built with both desktop and mobile environments in mind. The admin area has been tested for compatibility and usability on the iPhone, iPad, iPod Touch, and on various Android phones and tablets. Now you’re freely able to view reports, change settings and edit email templates from your mobile device.
Cheaper than a martini
Martinis are tasty. Software isn’t – except when it’s putting cash into your pocket or boosting your bottom line. At just $10 per month, the system needs only deliver one of two payments above your usual average to pay for itself. After that, any additional cashflow benefits make it such that you could potentially shout your whole team to a cocktail party.
Cloud-based for greater flexibility
There’s nothing to install on your device and no need for software updates, as xocashflow is fully hosted and managed by the iOnline team. RAID10 storage, R1Soft local backups and nightly off-site backups protect your data from corruption, damage or natural disaster, while security patches and system upgrades are tested and applied for all clients simultaneously.
Keeps it personal
The problem with fully-automated systems is that correspondence can lose its personality. By giving you the ability to edit each of the email templates used by xocashflow, to deliver batched reminders at a time and day of your choosing, to opt-out VIP clients from receiving reminders and by including personalised fields within the email, xocashflow aims to make batch emails feel just like personalised emails, without the burden.
Reduce phone time
Not only does time on the phone keep your staff away from other activities, but it puts pressure on your phone system and potentially allows you to miss out on opportunities if inbound sales or support calls are lost due to phones being tied up. Of course, phone calls also carry a direct telecommunications cost. xocashflow can see these costs reduced.
Maintain your green cred
You may still need to send paper-based statements and letters of demand to some clients, but xocashflow makes it possible to dramatically reduce the number of printed invoices and statements that go out, by focusing on email delivery.