In all my years consulting to small business – cashflow is king. But most small business is challenged by cashflow issues created by slow or non-payers. In fact, a recent survey undertaken by a Ki Media client, showed 62% of the small businesses did nothing to follow up on non-payers. The businesses don’t have the resources to follow up – and are concerned they might jeopardise future work.
The message came back loud and clear. They want their accountant or bookkeeper to do this work on their behalf. But following up on debtors is expensive and time-consuming. And debt collection agencies take a high premium of the sale.
Introducing – IODM (Innovative Online Debt Management). IODM who have a smart, low cost solution to the problem. Their system is a Xero Add-On, MYOB, QuickBooks and other platform agnostic. It’s an effective Accounts Receivable reminder software – the best on the market today.
And it can be white-labelled. Which is where the accountants and book-keepers step in. They can operate the system on behalf of their clients and charge a service fee. Client gets their invoices paid, at the same time the service provider earns an additional revenue stream.
I have asked Damian Arena, CEO at IODM to present how the white label system could work for service providers in a short webinar on April 15 at 12.00.
So my request to you – if you know accountants or book-keepers who would be interested in offering a value-add service to their clients – could you please send them this email for me? Registration details are here:
Alternatively, if you want to find out more about IODM directly – register here for a free trial.
My thanks – if you have forwarded a link to this post – it’s much appreciated!
Damian and I hope to see you on the webinar next week.