5 Ways to Improve Cash Flow in Your Logistics Business

Cash flow is the lifeblood of any logistics business. Delays in payments and manual processes frequently cause financial strain, slowing operations. But with AI-powered solutions like Upwell, you can improve accounts receivable (AR) management, lower costs, and get paid sooner.

Here are five proven ways to improve your cash flow:

1. Reduce DSO with Automated Tracking

Days Sales Outstanding (DSO) measures how long it takes to collect payments. The longer it takes, the greater the strain on your cash flow. Upwell reduces DSO by 3+ days by automated tracking, ensuring your bills are delivered on time. With our real-time tracking, there’s no more wondering if your invoice was received.

2. Cut Processing Costs with Carrier Bill Validation

Manual invoice processing is expensive and prone to human error. Upwell uses AI to reduce processing costs by 50% with automated carrier bill validation. The technology identifies discrepancies before they become disputes, saving you both time and money.

3. Eliminate Errors with Built-in Validation

Billing mistakes are a common cause of delayed payments. Upwell’s built-in AI validation system guarantees invoices are error-free before they’re sent. This reduces the back-and-forth that might cause payment delays, saving you and your clients from unnecessary frustration.

4. Offer Flexible Payment Options

Providing your customers with multiple payment options allows you to receive those payments faster. Upwell offers a variety of online payment methods, including ACH transfers and credit cards. Streamlining the payment process makes it easier for your customers to pay on time.

5. Gain Real-Time Visibility and Automate Payment Reminders

Real-time visibility makes it easy to stay on top of your AR. Upwell gives you instant insights into your payment status so you can make informed decisions. Automated reminders eliminate the need for manual follow-ups by gently reminding consumers to make their payments on time.

Conclusion

The success of logistics companies depends on effective cash flow management. Upwell makes it easier to be paid faster and maintain seamless operations by automating AR processes, lowering errors, and providing multiple payment options.

Visit Upwell.com to learn more or request a demo today!.

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