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Tradies! Here’s the top tips on boosting cashflow

There’s been plenty of problems pushing tradies to pull their hair out in the last 12 months.

Inflation, cost/scarcity of materials and a skills shortage have all built up to one massive headache for Aussie tradespeople. Now that we’re in the full swing of 2024, why not take this chance to review how you can tighten up your cashflow in a good way?

Pay like a pro

Fergus has the tools tradies need to keep on top of their business. Ensuring you have a clean and quick method of payment can be frustrating, but Fergus has you sorted with Fergus Pay. This fantastic system ensures your customers have a bevy of credit card payment options at their disposal, including Tap to Pay.

This gets rid of any waiting for you and your client for payments, ensuring you both can get on with the job.

“Customers love the convenience of Fergus Pay, and pay twice as fast compared to our customers who use bank transfer to pay invoices,” Andrew from Watersmith Plumbing said.

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Fergus Pay has been found to speed up the payment process twice as much as any other payment method, and even three times as much compared to small business standards.

Considering the average length of payment in Australia and New Zealand is 20-24 days, that’s pretty darn good!

Clean things up

Not only does Fergus make payments simple, it also makes invoicing and quoting a breeze. These tasks can be heavy on the paperwork side, not anymore.

Fergus helps to quickly generate invoices and speedily send them out to customers, so you’re not stuck navigating through seas of emails, tabs and menus.

Speaking of navigating, Fergus has an easy-to-use dashboard to ensure you’re able to keep track of jobs and payments.

“We know now that there is not one cent that get spent that we do not allocate to a job,” Rick Jones from Malady Electrical said.

“I’m terrified to think how much money that we never did invoice out to our customers.

“We could immediately identify areas where our margins were great and not so great. We could tell that at a glance in Fergus.

“I’d hate to think of how many invoices got blown away in the wind onsite and were never ever billed out to the customer.”


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Get in the green

With all these tools at your disposal, Fergus can help you see real cashflow into your daily operations.

Tradies can see how profitable jobs will be, ensuring they can take up jobs that keep cashflow high. Need help with managing your margins? Fergus can help with that also.

As well as making invoicing a breeze, Fergus helps you check your profit margins to ensure every invoice you send out is generating cashflow.

“In the past, the systems were too clunky and I’d get caught up in the day-to-day,” Ezi-Flo Plumbing’s Steve Luzco said.

“Now with Fergus, I have the time to cross-analyse jobs, look at the differences between materials and labour quoted versus actual numbers and uncover inefficiencies that I can use to quote even more accurately.” 

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