A business focusing solely on profit and loss statements and ignoring cash flow is like “driving along, watching only the speedometer, when in fact we were running out of gas", says Michael Dell, Founder and CEO of Dell Technologies.

High profits do not necessarily translate to a sustainable business unless it has enough cash flow. Without liquidity, businesses cannot buy new inventory. This impacts production, and ultimately, sales enhancement tumbles. Companies with huge profits and decreasing cash flow run out of business, sooner or later. Hence, cash flow serves as a better indicator of a company's financial stability.

Does that mean you should focus more on cash flow?&nbsp;

The role of cash flow and profits is different yet complementary in scaling a business. Optimised cash flow facilitates liquidity and helps businesses manage daily operations with ease. It also boosts investor confidence, allowing businesses to raise capital easily. Profits, on the other hand, are essential to achieve the long-term objectives of the business and get a higher valuation. Thus, both are necessary for sustainable and strategic development.

But how do you manage both simultaneously?

Skydo acts as a catalyst to scale your business. It is a comprehensive payment solution that helps you manage cash flow by receiving international payments quickly.&nbsp;

The Power of a Comprehensive Payment Solution

A robust and comprehensive digital payment solution helps small businesses generate more revenue. Here are some of the significant ways it can help your business.

Thus, a digital payment solution like Skydo increases profits and enhances cash flow.

Challenges of Manual Payment Processing and Collection

According to a study on <a href="http://images.globalclient.visa.com/Web/InovantElqVisaCheckout/%7B5083339b-3d90-4b30-b06e-32a06192d7d5%7D_Digital_Transformation_of_SMBs.pdf">'Digital Transformation of Small and Medium Businesses' by Visa</a>, online payment processing is cheaper as compared to manual payments as it requires less effort.&nbsp;

In a comprehensive payment solution, the process of collecting, storing and securing checks and cash becomes redundant. Considering both labour costs and payment processing fees, digital payments cost 57% less than manual payment processing and collection. From a mitigating fraud risk perspective, businesses can save up to 50% by integrating a comprehensive payment solution.

Other significant challenges that accompany manual payment processing are cash counting and reconciliation, and maintaining cash registers. These manual processes leave room for error and pose compliance and business risks.

Moreover, manual payments are three times more time-consuming than digital payments. While you can process $100,000 in 189 hours through a digital payment method, manually processing the same amount requires 542 hours.

Skydo payment solution provides seamless payment processing and acts as a catalyst for enhancing business productivity by making cash flow more efficient.

Let's understand the key features and benefits of Skydo’s payment solution and how it streamlines cross-border payment processing.

1. Virtual International accounts for easy client payments

Cross-border payment systems are extremely complex due to several payment compliances and anti-money laundering regulations. The payment goes through several stages of approval before it is finally reflected in your bank account.

However, payments made through local bank accounts are much more convenient for your customers.&nbsp;

Skydo helps businesses open international and multi-currency accounts based on where your client conducts your business. The client can directly transfer the payment to the local bank account, which is later transferred by the business to its Indian bank account. It makes businesses get timely payments and lets you take control in case of any issues.

Learn more: <a href="https://www.skydo.com/blog/seamless-payment-experience-with-international-bank-accounts?utm_source=blogs&amp;utm_medium=website&amp;utm_campaign=post_link">Enjoy Seamless Payment Experience by Creating International Bank Accounts in Just 5 Minutes</a>

2. Secure payment gateways and data protection

Payment fraud and data theft are the two biggest concerns for businesses engaged in cross-border payments. 56% of businesses consider payment fraud and 52% of businesses consider data theft as a major threat to a robust <a href="https://www.pymnts.com/news/b2b-payments/2022/56-percent-businesses-are-concerned-about-cross-border-payments-fraud/">cross-border payment system.</a>

Skydo eliminates these concerns by offering secured payment gateways and several layers of security to ensure maximum data protection. Thus, it ensures that businesses do not lose out on revenue.

3. Real-time transaction tracking and reporting

Skydo enables businesses to track payment processing in real-time and take an instant action in case of delays or other issues. It also improves cash flow management.

Maintaining Foreign Inward Remittance Advice (FIRA) is crucial for businesses as proof of inward remittances. The receipts also serve as proof of authentic payments. However, getting FIRA for every payment transaction creates a lot of hassle for businesses in traditional payment systems.

Skydo resolves this issue by auto-generating FIRA receipts for every transaction. You can view and download all the FIRA receipts from the Skydo payment solution dashboard.

Learn more: <a href="https://www.skydo.com/blog/all-you-need-to-know-about-FIRC-a-complete-guide?utm_source=blogs&amp;utm_medium=website&amp;utm_campaign=post_link">All You Need to Know About FIRC: A Complete Guide</a>

With Skydo, you get seamless access to all the payment data. It allows you to make effective data-driven business decisions by analysing client’s payment patterns. You can also identify opportunities to boost your services and compensations, thus increasing profits.

According to the <a href="https://www.accenture.com/content/dam/accenture/final/industry/banking/document/Accenture-Payments-Gets-Personal.pdf">Accenture Payments Survey 2022,</a> 45% of consumers use bank transfer methods for cross-border payments. However, businesses and individuals are actively seeking alternative payment methods for cross-border transactions. In fact, 29% of the users prefer a digital payment solution for the following reasons.

Skydo tackles all the above issues and offers and streamlines financial operations by offering the following features:

1. Automated invoicing and payment collection for operational efficiency

Skydo provides various customisable invoice templates that you can send to clients.

You can also send automated reminders and track when the client has checked the reminders.

2. Minimising errors and delays in payment processing

Once you save the purpose code for a particular service, Skydo automatically adds the purpose code to the next invoice for the same service. This mitigates the risk of manual errors and facilitates timely payments.

3. Time and resource savings from streamlined financial workflows

Real-time tracking and automated invoicing enable businesses to streamline their financial workflows by reducing the time and resources spent on manual financial operations. Thus, you can focus on core business activities without worrying about delayed payments.

Learn more: <a href="https://www.skydo.com/blog/how-you-can-streamline-international-transactions-for-your-business?utm_source=blogs&amp;utm_medium=website&amp;utm_campaign=post_link">Maximising Payment Efficiency: How You Can Streamline International Transactions for Your Business</a>

The terms “scaling" and “growing” are often used interchangeably. While the two terms may appear to be the same, they have different meanings in a business context.

Growing your business means increasing your revenue. However, that involves increasing your costs as well. For example, an increase of $60,000 in revenue leads to business growth. But, you had to shell out an extra $40,000 in integrating a new technology or hiring a new resource.&nbsp;

Conversely, scaling refers to increasing your revenue without significantly increasing your costs. This generates higher profits for the business. Scaling your business involves leveraging your existing resources to boost revenue.

Scaling involves expanding business operations in different locations and tapping new business avenues by finding gaps in the market.

How do Skydo's payment solutions help scale your business?

Harnessing the revenue boost from optimised payment processes

Scaling a business requires investment, which can be funded through the increased revenue generated from optimised payment processes. Skydo enables businesses to receive faster payments from international clients and reduce payment blockages. Thus, you have continuous liquidity and can efficiently scale your business in the following ways.

Investing saved time and resources into core business activities

Skydo streamlines financial operations by automating invoices and payment tracking. This reduces administrative overheads such as record keeping, data entry, and reconciliation. Hence, companies can utilise their time and resources to focus on core business activities such as sales enhancement and improve sales strategy.

Expanding into new markets and customer segments with improved payment capabilities

Skydo payment solution supports businesses in navigating cross-border payment processing challenges. Thus, you can easily expand your operations without worrying about liquidity crunch. Moreover, Skydo allows businesses to open local bank accounts in 20+ countries. Therefore, businesses can expand their reach in multiple countries.

An efficient payment processing system like Skydo is fundamental for business scalability. It facilitates seamless business operations, augments business efficiency, helps increase revenue, and generates high profits.

<a href="https://www.skydo.com/?utm_source=blogs&amp;utm_medium=website&amp;utm_campaign=demo_click">Request a demo</a> with Skydo to check out its unique payment process features and fuel business scalability!

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As an export business owner, the waiting period for a payment to get credited is unsettling. You’re looking forward to receiving important global payments, and you need to use that money to pay a supplier or a partner in service.

Unfortunately, your payment doesn’t show up on time.

This situation worsens when you are seeking some form of payment status information, but there is none. You find yourself in a triggering situation of he-said-she-said -the receiving bank informs you that they have not received <a href="https://www.skydo.com/blog/why-was-a-certain-amount-deducted-from-my-swift-payment?utm_source=blogs&amp;utm_medium=website&amp;utm_campaign=post_link">SWIFT (Society for Worldwide Interbank Financial Telecommunication)</a> instructions for your payment to be processed. Yet, when you contact the sending bank, they insist they've already dispatched the SWIFT.

Collecting global payments is already tagged as an expensive and time-consuming process. However, if a customer and you have to go through the pain of lost or delayed payment, it can make your heart skip a beat.

Skydo, a revolutionary payments platform, takes centre stage and answers all your questions–

Here’s how Skydo can help you with real-time payment tracking.



Key Features of Skydo for Real-Time Payment Tracking

Real-time payment tracking is the roadmap through your financial journey. Having a clear understanding of your transactions instills a sense of relaxation and trust, allowing you to engage in repeated business transactions with confidence in your clients. Naturally, communication doors remain open as there is transparency with clients. It makes everything simpler and easier to understand. Here are key features of the <a href="https://www.skydo.com/?utm_source=blogs&amp;utm_medium=website&amp;utm_campaign=demo_click">Skydo</a> payment platform – your go-to partner for payment tracking!

1. Sending and Tracking Payment Reminders

With automated, personalised <a href="https://www.skydo.com/blog/receive-timely-payments-with-skydo's-automated-reminder-feature?utm_source=blogs&amp;utm_medium=website&amp;utm_campaign=post_link">reminders for payment schedules</a>, late payments are a thing of the past. No more time wasted chasing down information or worrying about delays; you can focus on what matters most.&nbsp;

But the real magic lies in Skydo's real-time payment tracking, which provides essential delivery information and ensures that messages reach their intended recipients promptly.&nbsp;

This dual functionality not only records accountability and allows for instant follow-up in case of disputes or miscommunication but also fosters healthier client relationships and streamlines financial interactions seamlessly.

2. Instant Update for Payment Status Changes

With real-time notifications, you'll be promptly informed about any alterations to your payment status, from initiation to transit and successful receipt. This exceptional transparency enhances your confidence in financial processes, empowering you with timely information for proactive decision-making and efficient issue resolution.

Skydo offers a convenient solution with its intuitive and user-friendly interface, maintaining a complete history of all payment reminders sent. This archive acts as a valuable reference point, bolstering transparency and accountability in your financial interactions.

With access to this reminder history, you can effortlessly monitor the progress of your reminders and stay well-informed about your payment-related communications.&nbsp;

Imagine a scenario where your client disputes a certain payment pending clearing, and you need solid proof or validation of a financial transaction. Here's where Skydo steps in with its handy ledger feature, easily accessible and designed to ensure everyone is on the same page.&nbsp;

It houses a complete record of your financial transactions, payment details, transaction history, and supporting invoices. It's akin to managing your essential documents in a structured, accessible manner, making your financial history readily available whenever you need it.

5. Payment Tracking for Invoices Sent Outside the Skydo Environment

There are certain instances when you send invoices through an external mail platform. However, Skydo's payment monitoring isn't limited to in-house invoices; it extends its efficiency to mail applications too.

When <a href="https://www.skydo.com/blog/transforming-your-invoicing-experience-with-skydo?utm_source=blogs&amp;utm_medium=website&amp;utm_campaign=post_link">sending an invoice to the client</a>, in the CC field, enter invoices@skydo.com. The entire tracking information will be available on the Skydo platform. This way, you're in complete control, knowing precisely when an invoice was received, opened, and paid, even for those outside invoices.

With Skydo, you're always in the know, regardless of where your invoices are coming from.

6. Monitoring Multiple Invoices and Clients in One Place

Skydo ensures you do not need to dig through paper trails for email threads and other data. You can access your financial data in one secure, accessible location. Skydo's user-friendly interface simplifies the often complex task of tracking payments across various accounts and transactions. This consolidated view enhances efficiency and clarity in financial operations.

Real-time transaction tracking isn't just a part of business operations; it's the heartbeat that keeps your financial health in check. With Skydo’s real-time updates, your business can minimise overlooked or forgotten payments. It paves the way for improved financial forecasting, positive cash flow management, and a robust bottom line—all crucial elements of a thriving business.

Additionally, efficiency, clarity, and timeliness are paramount when fostering trust and transparency in your financial processes. Skydo excels in these areas, offering the means to streamline operations, eliminate guesswork, and minimise delays. Whether you are managing your business finances or freelance accounts, Skydo ensures that your financial operations remain crystal clear and reliable, providing you with the trust and transparency you need.

With Skydo, you don't have to settle for uncertain and chaotic financial transactions anymore. <a href="https://www.skydo.com/?utm_source=blogs&amp;utm_medium=website&amp;utm_campaign=demo_click">Book a demo now</a>!

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Consider a scenario where an innovative tech startup in India has designed a groundbreaking software solution coveted by clients worldwide. To seize global opportunities, the company must seamlessly transact with partners in different currencies, navigate diverse regulatory landscapes, and wrestle with the ebb and flow of exchange rates. This intricate ballet of elements underscores the complexities inherent in cross border payments.

For these Indian tech exporters, the efficacy of these cross border payments holds the key to unlocking their full potential. The impact is not solely monetary – it resonates through every facet of their operation. In this interconnected world, the efficiency of international transactions isn't just a matter of convenience; it's a strategic imperative.



The world is at our fingertips, yet the complexities of this global exchange often lurk beneath the surface. Let us discuss the different international payment methods, unraveling the threads of traditional channels and digital platforms while unveiling the challenges that can hinder the smooth flow of cross-border transactions.

Traditional Channels: Bank Transfers and checks

Bank transfers and checks have long been the pillars of international trade, trusted by businesses to facilitate cross border payments. Bank transfers, while reliable, can be a maze of intermediary banks, each taking their slice of the payment, resulting in high transaction fees that can eat into profits.&nbsp;

One significant component of these fees is the SWIFT (Society for Worldwide Interbank Financial Telecommunication) fee.

SWIFT fees can be a significant burden for businesses engaged in cross-border transactions, ranging up to USD 40. The fee depends on various factors like the destination, intermediary banks involved, and the currency being exchanged. These fees can quickly add up, eroding profits and making international trade less cost-effective.

Furthermore, the fund transfer across these networks is far from instantaneous, often spanning several days or weeks before reaching the intended recipient. This sluggish pace can hamper businesses that require <a href="https://www.skydo.com/blog/receive-timely-payments-with-skydo's-automated-reminder-feature?utm_source=blogs&amp;utm_medium=website&amp;utm_campaign=post_link">timely payments</a> for operations, supplier relationships, and more.

Cheques, though a time-honored method, often introduce additional complexities. They're subject to international mail delays, manual processing, and the uncertainty of clearance times. These factors collectively create an environment ripe for delays and disputes, eroding the reliability of this channel.

The arrival of technology has led to platforms like <a href="https://www.skydo.com/blog/top-paypal-india-alternatives-for-international-payment">PayPal</a> and Stripe designed to expedite <a href="https://www.skydo.com/blog/how-much-forex-fees-do-you-pay-on-your-international-transactions?utm_source=blogs&amp;utm_medium=website&amp;utm_campaign=post_link">international transactions</a> with the tap of a button. These platforms boast convenience and speed, delivering a new era of financial connectivity. However, this convenience comes at a cost. While transaction fees might be lower than traditional methods, they still accumulate, potentially straining profit margins, especially for high-volume transactions.

Despite the promises of convenience, the landscape of international transactions is subject to the following challenges.

In this complex landscape, businesses seek a solution that transforms these hurdles into stepping stones.

Elevating Global Financial Flows: Skydo's Cross Border Payments Transformation

As businesses expand their horizons across continents, a partner that can streamline these financial flows becomes invaluable. Skydo, a pioneer in advanced payment solutions, steps onto the stage as a catalyst for change, promising to revolutionise the landscape of cross-border transactions.

Enhanced Payment Efficiency and Streamlined Processes

Skydo revolutionises cross border payments with an ingenious approach that maximises payment efficiency and streamlines processes. Through an intuitive user interface, automated compliance checks, real-time tracking, and robust data security.

Skydo empowers businesses to initiate, monitor, and complete transactions seamlessly. This transformative solution eliminates traditional complexities, enabling swift and transparent movement of funds across borders. Skydo's commitment to innovation redefines the cross-border payment experience, catalysing businesses to engage in global opportunities with confidence and ease.&nbsp;

Retain Profits Through Real-time Exchange Rates and Flat Fees

In cross border payments, every cent matters. Therefore, Skydo’s services are designed with your business’s financial well-being in mind.

With real-time, up-to-the-minute exchange rates for your transactions, you'll always get the most accurate and competitive rates available in the market, ensuring the best value for your money.

Furthermore, with a flat fee charge for Skydo’s services, you'll know exactly how much you're paying for each transaction. There are no hidden costs or surprise charges, giving you peace of mind and predictability in your financial transactions.

By eliminating hidden fees and offering a flat fee structure, Skydo empowers businesses to engage in cross border payments confidently.

Improved Cash Flow Management with Faster Settlement Times

Skydo revolutionises cash flow management by prioritising rapid settlement times. Through streamlined workflows and advanced technology, Skydo accelerates the movement of funds from sender to recipient. This approach empowers businesses with enhanced liquidity, agility, and the ability to seize opportunities promptly.&nbsp;

By minimising transaction delays, Skydo ensures consistent and reliable cash flows, enabling businesses to allocate resources effectively and thrive in the dynamic realm of global commerce.

Enhanced Transparency and Visibility into Payment Statuses

Through real-time updates and comprehensive tracking, Skydo keeps businesses informed at every stage of the transaction journey. This level of insight ensures that senders and recipients are equipped with accurate, up-to-the-minute information, mitigating uncertainties and instilling confidence.

As a business owner, you want to know exactly when and how your money is being converted during cross border payments. Through Skydo’s transparent payment tracking mechanism, you can see the date and time of conversion prominently in all our transaction details. You can also cross-check exchange rates at the specified timestamp via reputable sources like Google and <a href="https://www.xe.com/currencyconverter/">XE</a>.&nbsp;

In a world where clarity is paramount, Skydo's commitment to transparency reshapes the cross border payments landscape.

See How Skydo is Revolutionising International Transactions for the Exporters Like You

Abhishek, the founder of a technology export business, Aidetic, in India, faced recurring challenges when receiving cross border payments. These issues included delays and uncertainties related to international money transfers.&nbsp;

In November 2021, Abhishek was eagerly anticipating a $7,000 payment from a new client located in Canada. The payment had been initiated via the <a href="https://www.skydo.com/blog/why-was-a-certain-amount-deducted-from-my-swift-payment?utm_source=blogs&amp;utm_medium=website&amp;utm_campaign=post_link">SWIFT</a> network nine days prior, but Abhishek had not received confirmation of the funds. His bank's relationship manager couldn't provide clarity on the payment's status, leaving Abhishek frustrated. These payment-related problems were not new to him, and they posed a significant obstacle to his technology export business's growth.

A turning point arrived in Abhishek’s path, when he discovered Skydo, through a tweet from Movin, the platform's founder, who expressed interest in assisting Indian export business owners with cross-border payment issues. He quickly reached out to Movin, and they connected over a Zoom call.

During this conversation, Abhishek realised that Skydo was tailor-made to resolve his payment woes. Without hesitation, he became one of Skydo's first customers. Shortly after, he acquired virtual accounts in the United States, the United Kingdom, Canada, and Europe through Skydo's platform.&nbsp;

Abhishek's testimonial reflects the positive impact of Skydo's services on his business:

"Running a startup presents numerous challenges, and the last thing I want to worry about is how to receive our hard-earned revenue. Thankfully, Skydo has beautifully solved that problem for us, and now we can look forward to expanding our business to more countries without the constant concern of how to collect payments from our clients."

His experience with Skydo demonstrates how the platform effectively addresses the challenges of cross-border payments for businesses, enabling them to focus on growth and expansion while eliminating the frustrations associated with traditional payment methods.

Streamlined cross-border transactions emerge as the cornerstone of success for export-oriented businesses. This journey, though complex, becomes an opportunity when partnered with Skydo, the catalyst for optimising payment efficiency. Reflecting on this voyage, it's evident that businesses cannot rely on traditional methods and face the challenges alone.

Skydo's ingenious approach addresses the pain points of high fees, lengthy processing times, and compliance hurdles, redefining international transactions into a seamless, efficient process.&nbsp;

In this era of boundless possibilities, seizing global growth opportunities hinges on a strategic partnership. Skydo stands as that partner, offering the tools to navigate the complexities, unlock efficiency, and capitalise on the global marketplace.&nbsp;

<a href="https://www.skydo.com/?utm_source=blogs&amp;utm_medium=website&amp;utm_campaign=demo_click">Book a demo</a> to witness Skydo's features and unlock a world of prosperity.

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"Should I send a payment reminder to the client? It's been 10-15 days past the invoice due date, and the client is yet to process the payment.” This dilemma is not uncommon. But here's what you should know.&nbsp;

According to <a href="https://fedpaymentsimprovement.org/wp-content/uploads/path-to-faster-payments.pdf">Chaser's Delayed Payment Report 2022,</a> around 87% of businesses receive payments after the invoice due date. However, 90% of businesses that follow up on their invoices receive payments within a week.

Yet, once you decide to send a payment reminder, more questions follow - "How to send a polite payment reminder to the client?" "When to send a payment reminder to the customer?" If you have been stressing too much over the pending invoices, you need to have a payment reminder system/process in place.

Instead of writing a follow-up email or text directly and being unsure whether the client has received the reminder, there's a better way to sort this out with Skydo's payment platform.&nbsp;

Let's understand the challenges of late payments further, explore the benefits of sending automated payment reminders with Skydo, and how you can use this payment system to optimise your business activities.

The Causes and Challenges of Late Payments

According to the <a href="https://www.fsb.org.uk/resources-page/time-is-money-late-payments-stifle-small-businesses-report-shows.html">Delayed Payments Report,</a> the major cause of payment delays is the power gap between small sellers and large buyers. This often forces suppliers to agree to more than 45 days of payment cycle. Insufficient funds with the buyers and delays in submitting invoices are the two other significant reasons causing delays.&nbsp;

Interestingly, often there is no particular reason for the delay in payments other than business culture. Clients are unbothered if the payment gets delayed. However, your company may hesitate to chase the payments to protect the relationship with the client. Sending automated payment reminders is one of the best ways to manage such situations as it seems less hostile.

Now even if you decide to send payment reminders, there is another series of challenges like the inability to chase payments because of lack of time and resources and tracking invoice due dates. This is primarily why automated payment reminders are necessary for businesses to overcome the following challenges caused by delayed payments.

A study on nudging for debt collection tells that debtors do not necessarily delay payments because of lack of liquidity or intentionally. Surprisingly, there is a <a href="https://www.researchgate.net/publication/369313471_Increasing_Public_Debt_Collection_with_Nudging">behavioural approach</a> to delay payments. Lack of attention and a tendency to procrastinate is what causes delay. However, people are receptive to simple and polite payment reminders.

Therefore, one of the best ways to make your payment system smooth is to use an automated invoice management and account receivables platform like Skydo that sends quick and polite payment reminders to the client within a few seconds.&nbsp;

According to the <a href="https://www.pymnts.com/study/b2b-payments-innovation-readiness-report-american-express-september-2020/">B2B Payments Innovation Readiness Report</a>, businesses with a manual account receivables process are likely to experience a 30% delay in receiving payments compared to organisations that have an automated process to receive payments.

Hence, the following are the key features and benefits of using Skydo for payment reminders.



1. Sending payment reminders in one click

With Skydo, you do not have to worry about writing, scheduling and tracking payment reminder emails. You can click “Send a Reminder” by opening an unpaid invoice on the dashboard, previewing the reminder email and sending it to the client with minimum manual effort.

2. Check if your client has seen your reminders

Often, when you send reminder emails to clients, you cannot determine whether they have received or read them. With Skydo, A bonus with sending reminders through Skydo is the ability to track its status.&nbsp;

You can view when the client has opened the reminder. It allows you to plan your reminder emails accordingly and take appropriate action in case a payment is overdue for a long time.

Skydo provides a comprehensive overview of all the reminder emails sent to a client and when the emails were viewed. This feature is beneficial in case a client fails to pay the invoice or a client disputes the invoice after sending multiple reminder emails.

Beyond ensuring timely payments, this and various other features on the dashboard help accelerate business growth. Here’s how.

The faster businesses send invoice reminders, the faster they pay. It leads to various benefits and company growth in the following ways.

Time saved from manual follow-ups including stats

Manual payment overdue follow-up is <a href="https://www.pymnts.com/study/b2b-payments-innovation-readiness-report-american-express-september-2020/">67% more time-consuming</a> than automated processes. Instead, you can schedule a reminder on Skydo to follow up with the client every 10 or 15 days or any other period. Thus, Skydo reduces manual efforts and helps boost business productivity.

Streamlined payment tracking and reconciliation

The entries related to sent invoices and account receivables are automatically and accurately stored in <a href="https://www.skydo.com/blog/a-quick-guide-to-using-the-skydo-platform?utm_source=blogs&amp;utm_medium=website&amp;utm_campaign=post_link">Skydo's dashboard</a>. Thus, it not only provides an overview of the revenue generated for your business but also detailed information related to payments. This helps businesses with the reconciliation of their payments and following statutory compliances&nbsp;

Improved focus on core business activities

Skydo enables tech exporters to <a href="https://www.skydo.com/blog/checklist-for-your-accountant-to-get-money-from-us?utm_source=blogs&amp;utm_medium=website&amp;utm_campaign=post_link">receive payments easily from foreign clients</a>. Thus, it prevents disruption in cash flow and allows businesses to spend their time and resources on core business activities.

Skydo's dashboard gives a holistic view of the invoices sent, when the payment was received, revenue generated, and payment overdue. You can export the data as an Excel sheet for business reporting and in-depth analytics of the company's financial position.

Tracking customer payment trends to create your cash forecast report

The data captured on the Skydo platform provides the necessary insights to understand customer payment patterns and compare them against prevailing market trends. It helps with strategic financial planning to ensure continuous cash flow and prepare budgets for operations and new initiatives.

Sending several payment reminder emails personally to clients can make you come across as rude and strain your relationships with clients. However, clients are less likely to mind polite automated reminder emails several times. Automated reminders demonstrate professionalism.

Here are a few ways you can receive payments timely and optimise your cash flow.

Learn more: <a href="https://www.skydo.com/blog/monitor-receivable-payments-with-skydo-payment-tracking-feature?utm_source=blogs&amp;utm_medium=website&amp;utm_campaign=post_link">Monitor Receivable Payments With Skydo’s Payment Tracking Feature</a>

Skydo is a holistic payment solution that provides end-to-end invoicing and payment services for tech exporters. From creating and sending invoices, and receiving foreign payments smoothly, to reconciliation of account receivables, Skydo makes the entire payment process seamless for tech exporters.

Further, it enables businesses to create and send invoices timely, check the status of each invoice, send reminders, track when the reminder was viewed by the client, and view the history of payment reminders sent to a client. All of this is available on a single click on Skydo's platform to save up on manual efforts.&nbsp;

<a href="https://www.skydo.com/?utm_source=blogs&amp;utm_medium=website&amp;utm_campaign=demo_click">Request a demo</a> on Skydo today to receive timely payments and boost your business' efficiency.

Receive Timely Payments with Skydo's Automated Reminder Feature

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In India's bustling world of startups and service exporters, dreams are becoming reality as businesses expand their horizons across international borders. However, this journey has its challenges. The hard-earned revenues of these enterprises often get eroded by various transaction fees associated with cross-border payments.&nbsp;

Just as travellers entrust their luggage to the skies, businesses entrust their earnings to an international payment system. They find themselves entangled in a web of hidden charges and pathways.&nbsp;

Meet Shubham, an entrepreneur in India who runs a thriving tech export business. His business has been getting international recognition, attracting customers worldwide. However, he witnessed a shrinking growth in the global market. The reasons include the following.

1. Currency conversion and exchange rate fluctuations&nbsp;

Shubham successfully bagged a great project and completed it. He was basking in the satisfaction of doing the work that was well appreciated and eventually compensated. However, due to unfavourable exchange rates, the amount he received post USD to INR conversion was at rates that significantly impacted his profit margins.&nbsp;

It affected his bottom line and eroded his confidence in the reliability of traditional banking systems.

2. Regulatory and compliance issues&nbsp;

Each jurisdiction has its rules, making operating without legal compliance challenging for a business. Since there was a delay in receiving funds, Shubham faced issues with meeting these compliance requirements. The paperwork and the back-and-forth with the payments vendor left him frustrated and doubting the efficiency of existing payment methods.

Shubham's frustration deepened as he encountered payment processing delays that led to missed opportunities. A client's payment took several days to reach his account due to the involvement of intermediary banks and complex clearing processes. The unexpected processing fees associated with cross-border transactions also chipped away at his profits.

4. Impact on efficiency and customer satisfaction

Shubham's business prides itself on efficiency and customer satisfaction. However, his team spends valuable time grappling with administrative hurdles instead of focusing on innovation. It affected the quality of service he could offer his international clients, risking their satisfaction and loyalty.

Shubham’s story is similar to the plight of many other businesses of all sizes in India facing similar challenges.&nbsp;

Skydo promises a transformative solution to international payment challenges. It revolutionises how businesses handle international payments and overcomes these roadblocks for Shubham and many other companies. &nbsp;

Skydo - Your Passport to Effortless International Payments

Skydo breaks the barriers most enterprises face and bridges the borders for Indian tech exporters to achieve payment success with maximum revenue and efficiency for those looking to expand overseas. Its top features include the following.

Skydo offers live or real-time foreign exchange rates and no hidden margins. For example, you have sent an invoice for $500, and the client has dispatched the payment. The amount you receive is equivalent to the globally set conversion rate when it hits the Skydo account.&nbsp;

The flat fee attached earlier to the invoice will translate into the same Fx rate, which will be visible in the payment tracking system alongside every invoice. There are no hidden charges.

Traditional methods often involve separate platforms or software to generate invoices, which can be time-consuming and require additional financial resources. However, Skydo redefines this process by offering a <a href="https://www.skydo.com/blog/transforming-your-invoicing-experience-with-skydo?utm_source=blogs&amp;utm_medium=website&amp;utm_campaign=post_link">built-in invoicing feature</a> that simplifies and streamlines the invoicing experience.

Here's how you can create a free invoice.

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