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3 Ways Paper Forms Hurt Your Cash Flow

By Jason Good on September 25, 2014
Tags: Data Collection

Are you still using a VCR to record TV shows?  Do you run out to the local video rental store for a movie? Most folks don’t do that stuff anymore because there is a faster, more efficient way to record and watch movies at home. 

It's time to update your technology. Photo credit: Listener42 via photopin cc

Instead of fumbling around with a VCR to record a TV show or driving across town to pick up a movie somewhere, you are using a DVR and you are streaming your movie via the Internet. Why? Because it saves you time. It’s faster and more powerful.

Using paper forms is a lot like using that old VCR. Paper forms are slower and less powerful than today’s alternative, mobile business apps. That lag could potentially limit your cash flow. Here are 3 ways paper forms are hurting your cash flow:

  1. They are slow. Paper forms are generally driven back to your office each day or week.  Data from those forms is then used in the office to proceed with the next step. Maybe parts have to be ordered. Maybe an invoice has to be generated.  Whatever it is, it isn’t happening until you get that paper back. And your customer isn’t paying you until those things happen first.
  2. They can be illegible. When that paper form does get back to the office and get dropped off, what if your office staff can’t read it? They probably contact the person that filled it out, who is probably not around. Calls are made. Texts are sent. Emails are sent. And you wait. If you’re lucky the person that filled it out can actually remember what he/she wrote on it. But your customer isn’t paying until this mess is resolved.   
  3. They are lost easily. What happens if that paper form never makes it back to the office? What parts or materials do you order? What services do you invoice your customer for? How do you deliver your inspection results to your customer? Perhaps you just forget about it altogether because the arrival of the form is what triggers the next step. Maybe you write off that business because you can’t recall what you did on that job. Maybe you go back to the customer and ask for the “yellow copy” you left behind. Your customer may not ever pay you. And you thought “pro bono” was only something lawyers did!

How many times each week does this happen to your business?

It’s time to replace that VCR. Using your mobile devices to fill out these forms will significantly reduce the time you’re losing now to paper forms. Everything happens sooner. Including those payments from your customers. 

Want to improve your cash flow? Give GoCanvas a try and see how it can save you time and money.  

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