Article provided by TechZoo Corporation
You might be thinking you don’t want a tech stack or that you don’t even know what a tech stack is, but if you’re using cloud accounting, a virtual meeting platform like Zoom or Teams, and possibly online storage like Dropbox or Google Drive – you’ve got a tech stack. Those programs are what make up your tech stack. So let’s get to it:
Why should you make sure to have Nagging Panda in your stack?
First a quick look at how you manage your accounts receivables (layman’s terms – how do you track your income and monitor who owes you?)
- If you use accounting software, we have the Nagging Panda Integrator Mode that integrates with QuickBooks, Xero and Sage Business Cloud.
- Maybe you don’t use any accounting software- you create your own invoices and keep manual lists of some kind on Excel or Word or similar. We’ve got you covered too. Nagging Panda Creator Mode. Use it to create professional looking invoices, quotes, credit notes, statements and manage your accounts receivables like a pro.
Nagging Panda gives you the most affordable solution to incredibly unaffordable business problems that are so common they scale across all business verticals, all shapes and sizes of business and all turnovers too.
Nagging Panda is here to solve these common business problems
- Invoices getting paid late or not at all
- Quoting but never following up
- Writing off too much money and often to quickly- not being able to find a debt collector when you need one
A quick look at each problem:
1. Obviously getting paid late is better than never being paid at all
But late payment is a problem and means someone’s going without. A hurt cash flow impacts staff, family, suppliers, continuity of the money circle and many other major necessary components of the economic machine.
Most of the time it’s unnecessary lateness and can be put down to the human error of forgetfulness, which we don’t put to the customer as we say strongly believe that business should be taking the right steps in order not to be forgotten by the customer. Sometimes the one who speaks up the most or perhaps the loudest gets paid first. But yes, unfortunately, sometimes customers just never intended on paying in the first place, in which case we would talk about vetting your customers before taking them on but that’s a topic for another time. (PS: that’s also a strong reason to make sure you have access to a good debt collector).
2. When it comes to not following up on quotes,
We put it down to a few things and you might well have heard yourself or someone you know say one of these things:
- I don’t have time to follow up my quotes. I need to keep seeing customers keep cranking out quotes then implement where I am able and don’t forget I still have to chase customers for payment as well.
- I don’t have the resources to follow up.
- I only really worry about following up quotes when the business goes quiet.
At Nagging Panda, we appreciate both the difficulties and the solution. We say it’s much easier to automate. Why not get that revenue up, and work smarter instead of harder. You’ve done a bunch of work to be able to get that quote out to your customer, not following up is possibly higher up on the naughty list than not getting paid because it’s 100% in your control.
3. You can’t find a reputable debt collector to help you collect bad debt
So, after some time you throw your hands up in the air because let’s face it, sometimes life is just too short for the nonsense, headache, and time-wasting, so you write it off. We know. We’ve seen it, we’ve done it. We created a solution for it.
Let’s think about it for a second, why do you struggle to find a good collector? For the better collectors, it’s a two street. They need a flow of work. Think about their side, you’re a small business, and someone owes you, but it may be ages till you require their service again so opening your file and getting you sorted doesn’t carry forward for them. They want the business that’s always owed. Think of your big-name businesses, like network operators, banks, or retailers who offer credit, they are always owed money by lots and lots of people, so they have all the best collectors clamouring to be able to get their work and collect for them.
With that in mind, how do you get the collector to look your way and help you? The answer is aggregation with automation. And we’ve provided it in Nagging Panda. We have debt collectors plugged in and ready to assist because through aggregation, your unpaid invoice along with the next guy’s unpaid invoice, provides the flow of work the better collectors need.
Moving on from the three major but common problems
Something we hear a lot is “my accounting software comes with a built-in invoice reminder”. Yup, you’re right. It does. But it’s accounting software. It’s brilliant at accounting, but it’s limited in reminding for invoices and not aimed at solving the three major business problems. But that’s a good thing. That’s what we do at Nagging Panda. It’s 100% synergistic, and completely supported by all sides. There’s a super-strong reason why cloud-based software integrates, bringing the best of breed in many fields together to provide us as users the best solutions at what is hopefully the lowest cost to achieve our goals and ultimate efficiencies.