Electronic funds transfers speed up cash inflows and cash outflows. The money that is transferred is taken immediately out of the payer's bank account.
A draft is a method of payment by which the money is not taken from the account until the draft has cleared through the banking system. This flows the outflow of cash because the money stays in the company's account for some period of days after the payment has actually been made.
Factoring is a method of speeding the cash inflows from receivables.
A lock-box system is a means of speeding cash inflows.
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