As a rule of thumb, startups should always find ways of minimizing their costs. Invoice factoring is another way of speeding up the account receivable processes in startups. In this digital age when invoice payments are made through mobile phones, there is no harm to request immediate payments from clients. It is also very important to secure credit before any business needs it as they can easily find out how much cash they will likely need to survive. Finally, using accounting software to keep tab on money coming in and out of the business is also a good idea.
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