How Are You Managing Your Financial Risk?
With NowAccount, you immediately eliminate risk of invoice non-payment.
Businesses who qualify have a qualifying business credit score and issue B2B/B2G invoices with terms (issued by incorporated, LLC and S-Corp companies).
Financial Risk Management
Every business carries risk – whether you are a start up trying to achieve rapid growth or a business that has been operating for more than 5 or 10 years trying to sustain growth, business risk is inevitable. One way to mitigate risk is to employ effective financial risk management strategies.
While risk can’t be totally avoided, business risk management is essential as it helps businesses identify the potential risks and come up with strategies and plans to manage.
Not sure where to get started with financial risk management? NOW can help. With NOWaccount, you can mitigate financial risk by increasing non recourse working capital and liquid cash flow. See why it is important for your business to reduce your exposure to risk and how NOW can help.
What is Financial Risk Management?
Financial risk management is an ongoing process that needs to consider all areas of your business. Your financial risk management strategy needs to consider all aspects of your business, from HR to Operations, to ensure you have the cash and resources to weather any potential downturns.
As one of the high-priority risk types for every business, financial risk is classified into various types such as Market Risk, Credit Risk, Liquidity Risk, and Operation Risk. A solid plan of action will ensure a company mitigates financial risk as much as possible.
Mitigating Financial Risk with NOWaccount
Assess your Financial Risk
Identify any areas of your business that need extra attention or a solid plan for the future.
Stay Organized
Establish a record keeping system (and stick to it!) so you know exactly what is coming in and going out of your business.
Keep Accounts Receivables Low
Make sure your customers are paying invoices on time. If possible, try to reduce the payment terms to keep cash coming in quickly.
Limit Loans
To reduce your financial risk, only take out a loan if you need to, and try to keep it as low as you can.
Diversify Income
Whenever possible, have income from more than one source to mitigate financial risk.
How Does NOWaccount Work?
NOWaccount is a simple way to accelerate and protect invoice payments and get you paid FAST:
- Deliver goods or services to your customers.
- Send your invoice to your customer and upload the invoice to your NOWaccount portal.
- Your invoice will have a remittance address to a NOW Corp lockbox, so you don’t have to worry about collecting your customer’s payment.
- Get paid by NOW Corp in less than 5 days.
What’s the Catch?
There is no catch. It’s really that simple. We charge a one-time convenience fee to process a standard invoice and your cost savings alone covers our low, flat fee! The possibilities are endless when you increase your cash flow and focus on financial risk management: you can pay off debt quicker, not worry about paying for recurring monthly payments, and invest in your business for monstrous growth!
Ready to get the revenue you deserve NOW?
Businesses who qualify have a qualifying business credit score and issue B2B/B2G invoices with terms (issued by incorporated, LLC and S-Corp companies).
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