CHASE - CREDITCARDS

Tips On Improving Your Cash Flow

Cost-cutting is one way to improve your cash flow. Here are three areas to consider for potential savings:

Finance and Bookkeeping

• Invest in computers and software to perform bookkeeping in-house.
• Reduce payroll costs by comparing in-house service to an outside payment service and selecting the most cost-effective option.
• Utilize online banking services when they save money.
• Take early payment discounts offered by your suppliers.
• Review and improve your collection procedures.

Communications

• Use the Internet when appropriate for your business communications.
• Save money and time by using email to replace some calls, faxes, postage, etc.

Purchasing

• Centralize supply purchases to gain efficiencies of scale.
• Use competitive bids to get the best pricing on purchases and establish good relationships with vendors.
• Implement automated inventory management programs that interface with your vendors and save time and money.

If you take the time and effort to analyze these key expense areas, you may reap the rewards of substantial cost savings and efficiencies for your business.

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