Finance: How Can I Reduce My Accounts Receivable

In this episode, Grunder Landscaping VP Vince Torchia delves into different ways to help you reduce your “days outstanding” in relation to A/R (accounts receivable). Collecting payment for work you've done is a critical part of maintaining strong cash flow at your landscaping company. Tune in to hear simple strategies companies can use to collect payments from clients promptly. Discussion Points: Collections are slowing in general Calculating A/R “days outstanding” Automation can help - credit cards and ACH’s Building in credit card fees, discounts for cash Providing a portal for customers to pay through Assigning A/R responsibility to one person within the company Setting up the process so everyone is aware Recap The Grow Show podcast is sponsored by STIHL and brought to you by The Grow Group - a leading coaching and education firm for landscape professionals. Your host is Marty Grunder, president and CEO of The Grow Group and Grunder Landscaping Co., one of the most successful design-build operations of its kind in the Midwest. The Grow Show shares ideas, tips, tactics, and insights that will help you grow your landscaping business. Resources: GROW! Conference Feb 2024 The Grow Group Grunder Landscaping Vincent Torchia LinkedIn Marty Grunder LinkedIn Stihl