Cash flow management
Businesses’ very survival depends on cash flow management. With so many moving parts in your business this is difficult especially when the total of outstanding invoices grows. Halyard helps you with this from reminding customers to forecasting whether you will have enough money to make payroll.
Whether you need help chasing invoices or managing your bank balance both now and in the future, Halyard can help make sure you have enough money in the bank to support your plans and keep you out of trouble.
What’s included
We can help with prompt banking of receipts and we will accurately update the list of outstanding invoices.
Depending on how you want us to work, we can contact your customers to check if there are any issues with the invoice and to remind them of payment. We’ll then record their answers and follow up further, if necessary.
We will work with you to decide next steps which can include initiating applications to small claims court.
We forecast projected bank balances based on expected receipts and payments. This helps you understand your future cash requirements and take the necessary action well beforehand to keep you on track.
We help you with making sure you set up your contracts that optimises cash flow throughout the delivery and minimising the risk of slow collections and default.
Why this helps your business
Having a handle on how much cash you have and will have is crucial not just for paying off creditors & staff but also in order to make investment decisions. This happens from good cash management, follow up of outstanding invoices and setting up your contracts so as not to cause a cash drain on your business.
Your business may be profitable but you can still have cash flow issues. It is crucial that you not only invoice accurately and in a timely manner but also chase invoices effectively without damaging the relationship with your client.
Who this service is perfect for
Companies growing their workload and needing clearer processes in place.
Businesses that want to make sure they stay organised without handling all admin themselves.
Teams that struggle to track paperwork, documents and records consistently.
Businesses looking for simple, ongoing support rather than just new software.
Why choose us
We understand how to manage cash from when you first set up your contract through collecting outstanding invoices to forecasting what your future cash balances will be. We customise the way we work with you so you can manage the relationships behind this work while understanding fully your cash position.
Tailored support for construction businesses
Quote & contract set up
Construction firms need to ensure their estimates detail the cash payments by the client right at the start. This sets up not only clear expectations but also matching cash receipts to outgoings.
Cash application, reminders & follow ups
The company must have procedures to promptly reflect cash receipts from customers against any outstanding invoices. The collection team will need to contact clients to see if there are any issues with the invoice. They need to also send official reminders recording and following up promises the clients may have made. We can do this directly or with your involvement.
Escalation & support with collection through small claims
The company needs to have clear escalation time frames and procedures resolving any issues the client may raise. The collection team should recommend next steps including court claims if required.
Cash flow forecasting
We can provide you with a cash flow forecast and review it with you. You can then establish a set of actions to address any cash shortfalls.
Tailored support for health and social care organisations
Cash application
Care businesses often work with government organisations such as local authorities, the NHS or other funding bodies. We have experience in dealing with their requirements and ensure payments are not held up due to issues they may raise.
Private clients
Private clients carry the same risks as with other industries selling to the consumer market. We can ensure we can collect through various payment channels
Escalation & support with collection through small claims
Although the risks are less working with government bodies, the company still needs to have clear escalation time frames and procedures resolving any issues a funding body or private client may raise. The collection team should recommend next steps including court claims if required.
Cash flow forecasting
We can provide you with a cash flow forecast and review it with you. You can then establish a set of actions to address any cash shortfalls.
Ready to talk?
Book a free 15 minute call and see how Halyard can simplify your bookkeeping.
No jargon. Just practical steps to help you focus on what you do best
