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Most businesses focus on invoices, follow-ups, and terms. But one of the biggest drivers of cash speed is simpler than all of that.
How customers pay you…
Payment method alone can delay or accelerate cash by days or even weeks.
Not all payment methods move at the same speed
Checks require printing, mailing, depositing, and clearing
ACH or Wire transfers move fast and are predictable
Credit cards post quickly but may carry fees
Each step between the customer and your bank adds time.
Friction slows payment
Customers have to ask how to pay
Multiple approval steps delay processing
Manual steps create procrastination
The harder it is to pay you, the longer it takes. Clarify all of this up front when you onboard them as a customer. Include check info, but it should be at the bottom of your pay instructions doc, with the focus being ACH/Wire or credit card.
Simple ways to speed up cash
Offer ACH or card payment on every invoice
Provide clear payment instructions upfront
Encourage automatic or scheduled payments
Remove unnecessary approval steps
Convenience drives behavior
Customers usually choose the easiest option available. Make fast payments the easiest option.
February is about receivables that actually convert to cash. Payment method is one of the fastest levers you can pull.
If customers still pay slowly despite strong follow-up, reply to this email, message me in the community, or email [email protected]. Payment friction is often the hidden cause.
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