The move to ensure an adequate cash flow comes amid signs that profit margins are under pressure, leaving firms to cut back or abandon investment plans and contemplate shedding staff.
A survey by the Australian Industry Group (AI) and American Express showed 77 per cent of respondents planned to more aggressively pursue payments for products that had been delivered, known as accounts receivable.
Of the 354 companies that participated in the survey, 65 per cent said they planned to cut spending and expenses, and 38 per cent would delay expenditure.
The survey says the slowing economy is making it harder for businesses to juggle the demands of their cashflow as many firms have been unable to pass on the rising costs of inputs because of slowing demand.
It also finds that the lack of cash will deter companies investing.
Some 40 per cent of firms indicated they had no plans for capital investment over the next six months.
This comes as 61 per cent of the firms indicate that profit margins are falling because of the inability to full pass on costs to customers.
Only 7.4 per cent of the companies said they had been able to pass on all cost increases over the past six months.
AI chief executive Heather Ridout said on Monday that she hoped companies would not cut back research and development or spend or less on education and skills because of the pressures on their cashflows.
Ridout said surveys and callers to AI's telephone advisory service indicated there was increasing pressure on firms to cut jobs.
"We see pressure on unemployment coming through across manufacturing construction and services," Ridout said.
"The longer this downturn continues, the more pressure that's going to be on unemployment."
Most firms in the survey said they were unwilling to take on significant risk, with 88 per cent saying they would only be willing to take on moderate or low-risk projects.
Cashflow difficulties were exacerbated by the surge in credit rates over the past year, which had made it harder for companies to access cash for day-to-day operations.
Although larger firms found it difficult to access corporate debt or raise equity, credit access was not as difficult for smaller firms because many relied on bank overdrafts to service short-term cashflow needs.
The survey involved firms employing a total 25,873 people accounting for turnover of $13.9 billion, with the majority of companies involved employing fewer than 100 people.
