How GoCardless customers and Xero experts are fixing late payments for good

A recent GoCardless survey of 500 SMBs revealed 27% lose up to $6,000 annually from late payments. One in 10 lose a staggering $12,000 to $30,000. That’s revenue that could be fuelling growth, hiring talent, or simply providing peace of mind.

That’s why we brought together three industry heavyweights who've fought this battle themselves and emerged with battle-tested solutions: Tyler Caskey (TheBeanCounters), Wayne Findlay (The Back Room) and Bridget Snelling (Xero’s Country Manager).

In our recent webinar, they dropped insights on how to speed up payments, smooth out cash flow, and even convince the higher-ups to invest in better processes and tech. And if you need proof, GoCardless customer, Wayne Findlay, also shared how his business now saves $25,000 annually and has reduced their Days Sales Outstanding (DSO) from 25 days down to 8 days. (Hint: that’s where digital bank payments come in.)

Their advice? It’s all about setting up the right processes that support both your cash flow and customer experience. Keep reading for more takeaways that could redefine your accounts receivable game.

About our guests:

Tyler Caskey, CA

Tyler is a transformative leader with a passion for leveraging technology to optimise finance, HR and IT functions. Unsatisfied with financial results alone, he also counts achievements like cutting time costs by up to 40% and significantly reducing error rates for teams. He’s worked in firms including Deloitte, KPMG and Rothsay Chartered Accountants, and now helps businesses optimise processes and thrive at TheBeanCounters.

Wayne Findlay

Wayne Findlay is the founding director of both The Back Room and Findlay & Co Chartered Accountants. With a big vision and a passion for efficiency, Wayne likes to explore new software and technology and drives adoption across his businesses. He’s recognised as an accounting industry leader in New Zealand, having won many Xero awards, for his innovative and proactive approach with clients.

Bridget Snelling

Bridget is at the forefront of empowering small businesses. With nearly two decades of leadership in global financial services, tech, and media (including TVNZ, Orion Health, and ANZ), she's responsible for Xero’s go-to-market strategy, revenue, and brand in New Zealand. Bridget understands the small business struggle, and how technology can transform it.

Finance experts from Xero, TheBeanCounters and The Back Room share advice to get paid faster

Our panellists served up a GoCardless for Xero masterclass, from hyper-efficient metrics to the client experience. If you missed the live session (or just want the highlights), here are the most valuable insights they shared:

1. Speed to Reconcile is the best indicator of a finance team’s performance 

Tyler Caskey shared his top metric for modern finance teams. He explained that how quickly you reconcile your books isn’t just about closing entries faster. It’s about real-time financial clarity. The faster you reconcile, the faster you can spot late payments, identify trends and make smart decisions. This shift can transform your finance team from a reactive reporting unit into a proactive strategic asset.

“[When I was interviewing for a CFO role], I was asked what the most important metric for a finance team in business, and my answer was ‘how many transactions are automatically reconciled or matched on a daily basis’. However, it’s really hard to manage. Systems like GoCardless can push good data and match it into Xero automatically,” Tyler said.

Tyler’s bookkeeping team relies on GoCardless for Xero to supercharge their Speed to Reconcile. The result? No more awkward monthly calls chasing clients. "We’re no longer misallocating payments because GoCardless and Xero do the work for us," he said. The integration offers real, tangible time-savings, without having to toggle between tools.

2. Collections automation is the easy way to reduce debtor days

Tyler also highlighted a massive pain point for finance teams: the archaic process of setting up direct debits the old way. He spoke about the administrative nightmare, especially in industries like aged care, where 'wet signatures' are often still required. Imagine having to manually collect payments from each of your older clients who may not have regular access to emails and/or the internet.

"With GoCardless, we no longer have to annoy our clients,” Tyler said.

Business owner Wayne Findlay has faced this challenge head-on. Four years ago, he heard about the GoCardless integration with Xero at Xerocon and decided it was time for a change.

“Integrating GoCardless with Xero means that payments are automatically collected when an invoice falls due, and then auto reconciled once they clear,” Wayne said. “By getting rid of all that admin, GoCardless has saved us at least half an FTE in bookkeeping, worth around $25k annually.”

3. Late payments (and the domino effect) are a killer for businesses

Xero leader Bridget Snelling spoke about the flow-on effect of late payments across the entire supply chain. It's not just about the money owed directly to you. Bad debt impacts everything from your brand reputation and customer experience to your operational stability and ability to invest in growth. This is why proactive payment strategies aren't just a nice-to-have. In today’s world, they’re non-negotiable for long-term business health.

“It’s often big businesses that are not paying on time and dictating the payment terms. And then other small businesses, because they’re not getting paid, they can’t pay their suppliers. It’s a terrible cycle that we need to encourage businesses to break,” Bridget said.

4. Businesses need to be setting their own payment terms for stress-free collections

Our experts universally agreed that businesses need to be the ones in charge. Wayne suggests that instead of sending invoices and just hoping clients pay on time, businesses should actively define and mandate their payment terms with solutions like GoCardless. This sets clear expectations from the start, freeing you (and your clients) to focus on what really matters: growing your businesses.

Wayne's strategy at The Back Room has led to an impressive 73% adoption of GoCardless among his clients. A side-by-side cost comparison with cards makes it easy to see why.

“Credit card fees are usually around 3%, which means an extra $450 on a monthly bill of $15,000, compared to less than 1% and around $150 on GoCardless,” Wayne said. “When customers see that, most of them say ‘OK, GoCardless it is,’ — even in the card-loving US.”

5. Making payments easy for your clients builds brand loyalty

According to Bridget, the ease of your client payment process can actually make your brand stronger.

“I think small businesses often underestimate how making things easy for their customers can build brand loyalty. I just signed my daughter up for swimming lessons the other day, and the company sent me a form that I had to print out and sign for direct debit. I don’t have time for this!”

When clients find it simple and convenient to pay, they see your business in a better light, which builds trust and loyalty. Think about it: if you have two service providers, and one lets you set up direct debit easily while the other requires you to remember to dig up your invoice in your inbox and do a manual bank transfer every month, which one would you prefer? Smooth transactions lead to happier customers.

6. Encourage your clients to choose faster and cheaper payment methods

Our experts shared smart tactics for encouraging more clients to 'sweeten the deal' and switch to direct debit. Bridget suggested offering clients an incentive, like making direct debit the cheapest payment option compared to methods with higher fees, such as credit cards. A small benefit for the client can go a long way in encouraging adoption and securing your cash flow.

Wayne even shared The Back Room's clever strategy:

“We always ask that customers use GoCardless, but if they insist on paying by card there are a couple of conditions,” Wayne said. “First, if they miss a payment – which often happens when you’re relying on customers to manually process payments – then they must switch over to GoCardless. And second, we’ll pass on the credit card fees, which we don’t do with GoCardless.”

What’s one thing every business should automate?

1. Bridget Snelling (Xero): Invoice reminders. This simple automation can dramatically reduce late payments by ensuring clients receive timely prompts without manual effort.

2. Wayne Findlay (The Back Room): Setting the rules early on for stress-free collections with GoCardless. He explained that by implementing a robust direct debit system upfront, you can eliminate the need for any reminders at all. This proactive approach ensures consistent, on-time payments and peace of mind.

3. Tyler Caskey (TheBeanCounters): It all comes down to how you collect money. If you're sending an invoice without an easy, pain-free payment method for your clients, you're creating unnecessary friction. There's simply no excuse for that in today's world, and you can fix it for good in less than 30 minutes.

Final thoughts: Integrations help businesses run their receivables like a well-oiled machine

While late payments are a silent cash-flow killer, practical and powerful solutions like GoCardless are available. By focusing on efficiency, using automation and proactively setting payment terms, businesses of all sizes can transform their cash position, cut down on admin and build stronger, more positive relationships with their customers.

If you made it this far, thanks for being here and reading — we hope you found these takeaways valuable. If you’d like to revisit the conversation in full, including live answers to audience questions, you can watch the webinar on demand at any time.

Or, you can learn more about our customers (like Wayne's journey at The Back Room and how he saved $25k annually in bookkeeping costs) in our Customer Stories Hub. 

Tyler’s cash-flow guide and go-to tech (free cheat sheet inside)

If Tyler’s insights on automating collections resonated with you, then you need to get your hands on this playbook.

Access Tyler's automation tips here – your secret weapon for reclaiming your time to do the work your leaders truly value.

 Inside, you'll find not just his recommended tech stack, but also a practical guide to getting senior management on board with investing in these automation tools. 

Imagine finally freeing yourself (and your team) from the tedious grunt work and focusing on the high-impact stuff. We can’t wait for you to dive in and tell us which key unlocks automation buy-in for your leadership.