This guide will explain the customer ranking section in Flow in, and give you tips and tricks on how to use this information to help manage and improve your business finances.
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This part of Flow In is all about ranking your customers by various metrics, giving you a better idea of how they stack up.
Who are your biggest customers, who pays the quickest (or slowest!), which customers do you depend on most for your revenue and how are your figures with each customer trending?
You can use the arrows here to filter and list your customers by each of the following metrics:
Total spent - shows the sum of all invoices (less credit notes) that have ever been raised for that customer.
Avg. sale - the average of all invoices (less credit notes) that have ever been raised for that customer.
Due - the sum of the amount due for all unpaid invoices for that customer.
Overdue - of the amount 'due', how much is 'overdue', i.e. late - the due date is before today.
Days to pay - calculates an average of how long it is taking the selected customer to pay. (across all invoices)
Dependence - proportionately how much of the last 90 days revenue is coming from that customer.
Trend - Shows a graph showing monthly invoice value over the last 12 months.
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What to do with this information?
Understanding how your customers compare to one another is a great first step on the path to cash flow mastery.
Knowing who pays quickly, and who is slow helps you make plans, if you know you can rely on customer X to be prompt but that payment from customer Y is going to take a while you can adjust and control your spending accordingly.
Understanding your customer dependence can help you avoid pitfalls too, if you have a high dependence on one or two customers have a think about how you would be impacted if these relationships went down hill, can you source other customers? Is there something you can do to continue to have a great relationship with this client?
There is a lot that this section can tell you, and you can use this as a jumping off point to ask further questions about your customers and your history and relationships with them.
To keep learning about Flow check out the rest of our help centre.