5 Simple Ways to Improve Your Cash Flow

By FedEx Get Ahead.

If your company is a typical business-to-business operation, your billing cycle starts when your product is shipped or delivered to your customers. Getting paid as soon as possible is critical to keeping your business running smoothly. FedEx features the tools and services you need to streamline your supply chain, improve your customer service and increase your cash flow.

By implementing these five suggested best practices, you can increase your earning potential and move ahead of your competition:

  1. Fulfill orders faster and more accurately. If you enter order information in one system and then retype the information in another system to create a shipment, it’s time to make things easier. Eliminate duplication by shipping directly from the order-entry screen. You can process orders faster and avoid order-entry mistakes by using QuickBooks or one of the many other compatible software solution providers FedEx uses to integrate shipping directly into our own accounting, inventory and customer relationship management software. Click here for more information on solutions like these from small-business software providers.
  2. Correctly bill customers for shipping charges. Using the Your Reference field on FedEx Ship Manager® at fedex.com, you can enter your customers’ order number, account number or other information for tracking and billing purposes. You can even set this reference field as required to ensure you’re accurately billing your customers for incurred shipment costs.
  3. Deliver sooner. During the past three years, FedEx Ground has improved transit times for more than half the cities served. As a result, we deliver faster to more locations than UPS Ground. Check out our transit time maps to see just how fast FedEx delivers from your ZIP code area. Or use FedEx Express® services to deliver time-critical shipments across the country overnight. Shaving up to several days off delivery times contributes to customer satisfaction, and can allow you to invoice customers more quickly.
  4. Bill immediately upon delivery. Use the email notification section of FedEx Ship Manager at fedex.com to send yourself emails when shipments are delivered so you can invoice your customers immediately.
  5. Minimize delivery disputes. By including the shipment tracking number in your customers’ invoices and providing proof of delivery, you can minimize disputes with your customers over undelivered shipments. FedEx offers free proof-of-delivery options with every shipment to a business. For residential deliveries, select one of our FedEx® Delivery Signature Options to require a signature upon delivery.

 

FedEx has launched their new online resource for small businesses, FedEx Get Ahead. Want fresh advice on increasing sales? How about expanding globally? You can find practical, real-world information on these topics and more, with articles like this on FedEx Get Ahead. You’ll also find information about products, tools and services that demonstrate how FedEx can help small businesses grow. Check out FedEx Get Ahead today — it’s free.

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2 Responses to “ 5 Simple Ways to Improve Your Cash Flow ”

  1. David Moore on

    I like this article and I’m going to make sure this steps are followed in my company. You can also increase your cash flow by factoring. Get educated and find how it is the most productive thing you can do as a business owner.

    Reply
  2. Robert Brown on

    Very nice and interesting article to read.As any small business owner knows, maintaining smooth cash flow requires juggling nearly every facet of a business, from staying on top of accounts receivable, to extending lines of credit, to managing inventory. Here are 10 things you can do to increase your cash flow:

    1.Organize your billing schedule .
    2.Stretch out your payable.
    3.Take advantage of early payment incentives.
    4.Balance your client base.
    5.Check your pricing.
    6.Don’t buy all in one place.
    7.Form a buying cooperative.
    8.Renegotiate your insurance and supplier policies.
    9.Tighten your inventory.
    10.Consider leasing instead of buying.

    Reply

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