Finance

Almost universally, CFOs reporting on the state of their companies' cash management have pointed to investments in digital payments platforms as among the biggest changes in the past year. The fact that payments are changing — largely driven by the growth of mobile payment applications and the evolution of B2B payment offerings — is not a revelation, but what most CFOs are seeing has them thinking now is the time to make big decisions about how they will proceed.

BACS is the Bank Automated Credit Transfer Services and it is one of the fastest payment methods in the UK. If a BACS payment is made on Friday, when will it clear? How much do BACS payment cut-off time compared to how long a bank transfer take? If you are wondering how long does a BACS payment take, then this guide is for you.

Purchase-to-Pay (P2P) is the process of tracking and managing supplier payments for goods and services acquired throughout the year. The Purchase to Payment process is a seamless transaction that involves multiple stakeholders and complex systems.

As we have said before, cash flow is your company’s lifeblood. Balancing your ingoings and outgoings can sometimes be a tightrope walk, but there’s a way to make a safety net. You can ride out challenges that restrict your access to cash by taking a holistic view of your payment cycle in accounting.

Across all walks of life, one thing that brings people together is the fact that we all have bills to pay. When it comes to business owners, the nature and quantity of those bills becomes more difficult to manage. Businesses have varied suppliers who need to get paid on different schedules, intervals and perhaps even currencies.

A healthy cash flow is essential to your business’ success, but don’t let it worry you. We’ve got some tips and a tool that makes cash flow easy to manage.

To manage cash flow, you need accurate cash flow forecasts. With forewarning of shortfalls, you can take steps to adjust your course. Libeo gives you real-time forecasts in one click.

Would you like to free up time, make your money go further and save the planet all in one go? Don’t worry, you don’t need to become a superhero – as a small business owner, you already are one! All you need to do is reduce your paperwork. Let’s look at some innovative ways to reduce paper waste and make switching to digital a breeze.

When it comes to customer collection, there are several methods of invoicing that are used. From the obvious paper invoice to the automated email reminders and account notices. But you may have heard of a new collection method recently. It's called request-to-pay (RTP). What is it? And why is it a good time to get on board?