Conferences are great places to meet people – so I enjoyed my time at the Sydney Accounting Expo this year – both time spent making new contacts AND catching up with folk I haven’t seen for a while.
I did my own presentation, and also hosted a number of sessions for other speakers. I’m already looking forward to next year.
A recurring conversation across the conference – one that fascinated me – was just how many accountants were there to find ways to help their clients weather today’s turbulent business times more effectively.
My presentation on “Unlocking working capital for SMEs and maximising cash flow” was well attended – and I’ve had great feedback from it.
I love creating an “aha” moment
It’s always great to see the faces of people in my audience as they have an idea “click” – when they fully understand the big (and often crippling) impact that 30/60 day credit terms have on SME business cash flow.
(It’s even more rewarding when I see them realise that it doesn’t have to stay that way in 2025.)
So many people have accepted that 30-60 day credit terms are “standard industry practice” throughout their business life, without actually realising the financial reality that:
What these credit terms do is give your customers a 1-2 month interest-free loan – funded from your own cash flow.
“The look” was on a lot of accountants’ faces, too
It was also interesting that in an Accounting Expo full of accountants, “the look” was on so many faces – which could mean that “how it’s always been” is limiting the advice that many accountants can give their clients.
Several times recently, I’ve been reminded that many people don’t even know accessible tools like Invoice Finance and Trade Finance exist – let alone that they are real, strategic and affordable options for Australian SMEs in 2025.
Test your knowledge of today’s responsive finance solutions for SMEs
Here are some points that raise a few eyebrows in my talk:
- Did you know that Debtor Finance can be used to help SMEs trade through a Small Business Restructure (SBR) review? (Because the credit history evaluated is your customers’ – not just your own.)
- Did you know that TP24s smart adaptation of Debtor Finance gives you overdraft-style access to the funds on your Debtors Ledger – so you only pay interest on the funds you use? And it’s automatically connected to your accounting system, maximising your flexibility?
- Did you know that Trade Finance can be used to smooth cash flow in construction businesses, because it gives them an extra 30-60 days to pay supplier invoices?
- Did you know that today’s Responsive Finance solutions – such as LUCA Plus trade finance for retailers – plug straight in to your MYOB or Xero accounting system, giving you instant approval of interim finance as you raise supplier invoices?
- Did you know that there are specialist financial products specifically to help manage tax debt?
- Did you know that with Receivables Management Finance, you get professionals managing the payment collection process, reducing admin costs and stress levels?
- Did you know that most technology-enabled Responsive Finance applications are approved within 4-10 days?
If you don’t know what you don’t know, how do you progress?
Once you know that there are options you’ve never recognised, you have a chance to upgrade your business finances to help you thrive through the increasing rate of financial disruption 2025 is bringing us.
If you’d like to learn more about today’s solutions and what they could mean for your business, book a call today.
