Collections are an important aspect of any business as they help to ensure that the company is able to receive payment for the goods or services it provides. Proper collection practices can help to increase cash flow, which in turn can be used to pay bills, invest in new projects, and improve overall financial stability.
Here are a few reasons why collections are important for a company:
Overall, collections play a vital role in the financial well-being of a company and are essential for maintaining financial stability, improving profitability and building positive relationships with customers.
Kapittx is a Software-as-a-Service (SaaS) platform to automate the critical process of Accounts Receivables or Debtors. It enables various stakeholders like Sales, Accounts, Logistics and Customers to collaborate effectively and get paid faster. Founded in 2019, by veterans in Payments, Finance and Technology domains, Kapittx is built to integrate with your existing processes seamlessly. The easy-to-use interface, enables businesses in diverse fields like manufacturing, services, technology, transportation etc customise it to their own unique requirements. Kapittx recognises that each industry and each company handles receivables in a different way and aims to eliminate the barriers to getting paid faster.
Check out Kapittx’s LinkedIn here.