While earlier the payments used to mostly be based on cash and the bookkeeping and accounting used to be done manually, today with the rise of technology, these trends have changed.
When you have sold a product or offered service, the first step that you would take to get paid is to make an invoice. What is Invoicing Software? Analysis of Features, Types, Benefits and Pricing This has led to their cash flow, and thereby their revenue to get affected negatively. With the onset of the COVID-19 pandemic in 2020 and all the havoc and chaos that it brought in its wake and is still continuing to do so in waves, 54% of the businesses now expect late payment on their invoices.
