How do you handle invoicing and cashflow?

[chexton]

Hi all,

I'm doing some quick research on how other small businesses deal with invoicing and cashflow. I know from my own experience that as a small to medium sized business, these can be tricky issues.

I'd really appreciate if you could fill out this 5 question, 30 second form I've created with WuFoo!

http://invcme.wufoo.com/forms/accoun...your-business/

A bit more background, I'm from a new startup called http://invc.me. We're building a tool that helps you invoice but focuses on helping you get paid faster. Any feedback is appreciated.

Thanks,

Chris

[JakeThomas]

Hi Chris,

Just tried to do your survey, but unfortunately the link looks broken =)

Might also be a good idea to head over to the new members thread to introduce yourself - so we know a little about you.

[chexton]

Jake - thanks, that's a shame.

Here is an updated link: HERE.

I'll head over and introduce myself...HERE.

[JakeThomas]

Hi Chris,

Just did the survey for you - from what I can gather - it's a new invoicing system you are working on?

Will this be a standalone system to compete with Myob / Xero etc? Or will it be an addon that can be used in addition to these two?

[chexton]

Invc.me can certainly be used as a simple invoicing system for those who don't want a fully-fledged accounting system but we're going to be integrating with Xero, FreshBooks and others as our focus at Invc.me is on Accounts Receivable. Our tool allows our customers to setup automated email notifications, thank you notes and, very soon, SMS and phone call reminders!

It's really to help small businesses with accounts receivable and bad debtors. We're also talking with a debt collection agency for situations that need escalation.

We're very keen for feedback though, so would love to know what you'd want to see to make the product of valuable use to you. Your answers to the survey make it seem like it could be of use?

[BrisbaneAccountant]

Chris as a company who specialises in working with our clients and specifically

<a href="http://accountantsadvisors.com.au/xero-accounting-systems">Xero</a>

accounting systems, I think this could be very complimentary AND most importantly helping businesses improve their cash flow. What kind of pricing are you looking at. My main concern with Xero is that it can be death by a thousand cuts. $50 p.m. is ok, but then there's $25 for this, $10 for that, all of a sudden it can get confusing and expensive.

[v2Media]

Hi Lincoln, thx for posting. Would you mind fixing up your post by using bbcode syntax for links please. Your signature will need updating too.

[BrisbaneAccountant]

Amateur mistake, thanks V2Media

Chris as a company who specialises in working with our clients and specifically Xero accounting systems, I think this could be very complimentary AND most importantly helping businesses improve their cash flow. What kind of pricing are you looking at. My main concern with Xero is that it can be death by a thousand cuts. $50 p.m. is ok, but then there's $25 for this, $10 for that, all of a sudden it can get confusing and expensive.

[chexton]

JakeThomas - We started out working toward a 'simpler' system but have grown to realise that people seem to really HATE (and have trouble with) chasing their invoices. Most people don't have late invoices but they still want assurance they're not going to be forgotten and would like someone to help take care of this - think of it like automated Accounts Receivable for a small business! As such we're working on integrations with Xero and some other systems as we think it'll fit beautifully on top of those.

BrisbaneAccountant - I think the above agrees with your appoint. It's nice to hear some good feedback and we think it will be complimentary too. We use Xero at our consultancy and have found it lacking in some of these features. The key question at this point is what would you (or your clients) pay for something that handles automated reminders, etc.? $20 a month? $25? $15? At the moment it lets you send SMS, email and automated phone reminders. It keeps track of things easily and will soon enable you to get paid via credit card as well as Paypal and EFT...plus we can let you know when it's been paid! Really keen for feedback and would love to know of any clients of yours who might find it useful.

On top of that, what key pain points do you have in your businesses (or other businesses you know)? Ideally related to invoicing, cash management, etc. but it could also be something entirely different .

[JakeThomas]

Excellent!! Thats exactly what I wanted to hear!!

The reason being, is I'm pretty comfortable with Xero - not that I wouldn't ever look into any other options, it's just it works for me, is easy to use and rather quick and efficient.

However, using invc.me as a plugin for Xero would be definitely worth looking into =)