Get paid on time

Mt Druitt - St Mary's Standard (East) - - TRADE & SERVICES - Laura Tri­este

LIKE many sole traders and small busi­nesses, get­ting paid on time for your hard work is a pit­fall of the job that most trades­peo­ple face.

And with nei­ther the time nor de­sire to spend hours on end chas­ing up un­paid in­voices, it is of­ten a prob­lem that is either put up with or out­sourced at a high cost.

It is an is­sue that Syd­ney­based busi­ness ex­pert Ar­jun Singh has ex­pe­ri­enced first­hand and what prompted him to start ezyCol­lect with his co-founder Raj Kuck­reja.

The debt col­lec­tion com­pany helps small and medium-sized com­pa­nies get paid faster with ser­vices such as au­to­mated fol­low ups and con­sol­i­dated re­minders.

With a re­cent Dun & Brad­street study that showed more than 90 per cent of busi­nesses fail due to poor cash flow, Singh says it is cru­cial that busi­nesses are paid on time.

“The way to get paid faster is through per­sis­tent po­lite fol­low up,” he says.

“We had a cus­tomer who had about an av­er­age of 40 per cent over­due pay­ments.

“Within 60 days that went down to 2 per cent and that’s been con­sis­tently main­tained for six months.”

EzyCol­lect uses a blended ap­proach of emails, SMS, let­ters and sched­uled phone calls to take care of a busi­ness’ debtor man­age­ment.

It also in­te­grates with ac­count­ing plat­forms, en­abling a busi­ness to get started with min­i­mal data en­try.

Singh says the sys­tem had been pop­u­lar with many trades­peo­ple, which they can also use to get peo­ple to pay for their ser­vices straight away.

“We’ve built in a pay­ment ser­vice where if you are at the cus­tomer’s site, you can give them your phone and it comes up with a pay­ment page,” he says.

“The cus­tomer can type in their credit card de­tails and pay then and there.” Find more in­for­ma­tion at ezycol­lect.com.au

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