Do you know, 51% of small businesses don't use any cloud accounting or financial books?
Yes, that's right!
In this age of deep-rooted technology and innovation taking over every aspect of our lives, there are still businesses and service providers who manually handle the accounting and finances, either with spreadsheets or pen and paper.
According to a survey by SMB Group, 51% of small businesses with around 1-20 employees don't use any cloud accounting software to manage their accounts receivable.
Among them, 30% of them use spreadsheets to maintain records of their finances and receivables, while 21% of them don't use any tool or software to keep a check on their financial growth.
Well, here's the catch.
What if the business wants to automate its accounts receivable management?
Let's take this discussion a step at a time.
Imagine yourself having a business that does not rely on any cloud-based accounting software but instead depends on your co-workers to handle the accounts receivables manually.
One day, you and the other executives in your business decide that it would be better to automate the accounts receivable process.
You then look for accounts receivable automation software that can improve the collections cycle while reducing the DSO of the business.
However, none of them allows you to add data manually or upload your accounting files, but instead ask to integrate your cloud-based accounting books which you don't have.
You are lost now, out of options while your business's cash flow is still stuck and your team is trying their best to revive the collections faster.
This is where Maxyfi comes in.
Maxyfi, Accounts Receivable Automation Software, enables you to upload accounting files in .csv format or use the template provided to add the data manually.
This feature is developed with the inclusive needs of every business in mind and stands apart from the rest of the other accounting solutions because it allows companies to integrate data without having a cloud accounting book.
Thus, Maxyfi makes automating accounts receivable accessible for every business, irrespective of the tool or software they use to record their data.
All you need to do is sign up and upload your data with a few clicks, and everything is integrated into the software quickly and effortlessly!
Each detail is taken with great care to ensure that all kinds of businesses can avail of the software, for better accounts receivable collections and revenue growth.
The accounts receivable automation software empowers your business to follow up regularly with industry-best workflows, customizable templates, and a dedicated customer portal to communicate efficiently with customers.
All in all, Maxyfi helps your business improve collections, reduce DSO and stay on top of the cash flow always.
To know more about Maxyfi's unique stand-out features that make collecting accounts receivable simple yet efficient, stay tuned to our blog.
We'll surely come back to you with more and better!!