ZenCash is a web application that helps small businesses and freelancers get paid on time. We do this by automating their entire accounts receivable process- from the day they send the invoice to the day they get paid. This includes automated bill reminders (printed invoices, phone calls, etc.) and for positive reinforcement, personalized thank you notes you can send when customers do pay. You can also send default accounts to collections straight from the app. Think of it as drip marketing for all your unpaid of invoices.
The idea for ZenCash originated when founder and CEO Brandon Cotter, a six-time serial entrepreneur, once found himself unable to make payroll at his small business due to unpaid invoices. He spent hours calling customers and even hired couriers to collect money in-person from late-paying clients. It worked, but Brandon saw an opportunity to streamline and make the process more efficient. Years later, this was the seed that led him to found ZenCash.
Our customers currently lean more toward creatives like graphic designers as well as law firms. These are businesses that struggle with the cash conversion cycle—often with little to no process and/or resources in-house to manage the follow up when an invoice is not paid; 40% of businesses today report that cash is coming in at slower rates than in years past, according to the National Federation of Independent Business (NFIB). With ZenCash, these businesses can now focus on their actual work instead of chasing invoices and worrying whether or not they will be paid.
Basic Specs: Web application. Syncs with invoicing/accounting applications like QuickBooks, FreshBooks, Harvest, Blinksale and Clio. Others coming soon.
What do you do when a customer hasn't paid the invoice and it's 90 days past due? Get on the phone? Send another letter? Send the boys in? ZenCash is a payment accounting application designed for small businesses that covers ... Read more