Aug
23
23% of corporate insolvencies over the last 12 months are caused by late payments from another company, according to new research from UK trade association R3. The survey reveals that late payment for goods or services was a primary or major cause of 23% of insolvencies in the last twelve...
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Aug
17
It’s ironic that information technology businesses — which are so focused on providing cost-savings and efficiency-related solutions to customers — often don’t practice what they preach. Too often IT managers and workers busy themselves with activities that don’t improve the bottom line, don't generate new customers and simply waste precious...
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Aug
04
So you’ve heard about Debtor Daddy - the automated invoice chasing system - but you’re not sure it will actually make a difference to your bottom line. Well simply answer these five questions below and you’ll soon know whether it’s for you... 1. How many hours a week do you spend...
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Aug
02
Some Kiwi milk producers have to wait almost four months for payment from dairy giant Fonterra, as the milk giant aligns with “international best practice” and pushes its terms of payment out to up to four months. According to business journalist Michael West, multinationals such as Kellogg’s, Unilever and Nestle are...
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Aug
01
In the ever-changing, always busy world of IT, there are two constants: the perpetual quest for ever greater productivity and the always-present need to keep one eye on the bottom line. Luckily, there are a bunch of tools out there designed to do both of those things better; it's...
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Jul
25
The Department of Jobs, Enterprise and Innovation in Ireland launched an initiative in 2015 to encourage businesses to pay suppliers promptly. Should we do the same here? Introduced in March last year, the Prompt Payment Code of Conduct, a Government-led initiative aimed at encouraging organisations to pay their accounts more...
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Jul
20
“I have noticed that the people who are late are often so much jollier than the people who have to wait for them.” E. V. Lucas. Most accounts receivable professionals would agree with that statement. Every late payment has a cost to a business. So much time can be wasted...
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Jul
08
From freelancers to fencers, techies to electricians, if you issue invoices as part of your day-to-day business, you will have experienced the frustration of not having those invoices paid on time. And the part that really blows? The cringing follow-up phone call where you try to coax payment out of the client...
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Jul
05
In February this year, Stonewood Homes, New Zealand’s third-largest home builder, was placed in receivership. Before property magnates Michael and John Chow bought out the firm, the business was reported to owe about $15 million to unsecured creditors (affecting almost 400 other companies) and was midway through the building of...
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Jun
30
If you go by the statistics, it’s a stunningly common problem: 115 million small businesses worldwide say they are struggling with the complexity and stress of managing delayed receivables. According to UK financial organisation London and Zurich, one-third of UK SMEs surveyed in 2014 said they were spending more than...
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