Improve Your Cash Flow With Milk Management Software
Continual cash flow is the ultimate goal of a business. Positive cash flow is crucial for fulfilling customers’ demands, and growing and scaling up the business.
Milk management software allows businesses to improve their cash flow by automating the payment process. This makes the processing time cost-effective with lower chances of errors. Automating the payment management process improves the positive cash flow of the business.
Here is all you need to know about, how you can improve the positive cash flow of your dairy business using milk management software.
How does online milk management software help in improving the positive cash flow?
Multiple payment options- Online milk management software offer multiple payment gateway integration and provides customers with flexible payment options. Customers can pay online (via credit and debit cards, payment gateways like Stripe, PayPal, Paytm, and prepaid wallets) and offline via cash. Flexibility in payment options allows customers to pay invoices at any time and anywhere from their phones.
Low balance reminders- If the business has opted for only wallet options, the customers get low balance notifications. Customers need to add money to their wallets for placing a successful order. Low payment reminder ensures that the customer recharges their wallet on time.
Pending payment notifications- The system sends pending payment notifications to customers who have not paid their bills. The notification can be sent in-app or via sms. Sending pending payment notifications assures that customer pays their dues timely.
Payment tracking- The payments are received via cash or online and are tracked. The business owners get a detailed report on offline and online payments made. Tracking payments allows businesses to send pending payment notifications.
Proof of payment- If the customer is paying online or via cash on delivery, drivers need to enter the proof of payment. The driver needs to get the customers’ signatures, click a picture of the payment or enter the online transaction ID.
Linked-based invoices- The invoices include the button for making the payment. The customers can click on the button and they are redirected to the payment page from where they can make the payment.
Auto-generated invoices- the invoices are auto-generated and automatically sent to customers weekly or monthly according to the business preference. The invoices are sent via email or sms. The auto-generation of invoices reduces the chances of human errors unlike manually creating an invoice. Customers can pay the invoices online at any time as their availability of time.
Auto deduction feature- Businesses can offer an auto-deduction feature for making payments. The customers enter their payment details and select the auto-deduction feature. This feature auto-renews the subscription and auto-deducts the money.
An online milk management system is an integrated platform with the delivery application and works in synch. The payments are auto-updated on the admin panel as the driver receives and enters the payment. The system helps businesses with overall cash visibility through payment collection, tracking, and reconciliation. Contact our Industry Experts today to learn more about the ways Trakop can help you improve your cash flow.
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