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For many businesses, particularly those in B2B businesses, offering credit to customers is a necessity in order to remain competitive. Considering this, every business needs to have procedures in place that determines what payment terms a customer will receive, and how much credit they will be given. What are the benefits of setting customer credit […]
Small businesses need to ensure they have the most effective credit management systems and skills to tackle late payment seriously, to avoid becoming one of those statistics. If late payment isn’t tackled effectively, the effect on businesses and ultimately the economy could be disastrous. Research shows it costs 10 times more to gain a new […]
Cash flow is king within any business, therefore knowing how to improve your cash flow is essential to your business’ survival. I have to say that there are many things that can affect your cash flow, for good or bad, I am only going to discuss one aspect of your cash flow (and one of […]
Issues for cash flow in recruitment SMEs within the UK are owed billions in late payments; this is an issue that is affecting all industries, in businesses of all sizes and is likely to continue for as long as businesses continue to provide credit. Recruitment companies are particularly prone to issues regarding late payment and […]
Back door hiring episode 5 We regularly assist our clients with litigation against debtors, from the hearing stage, when the claim is defended, all the way through to enforcement. We have a very high success rate in litigation. However, the debtor doesn’t always have the ability to pay their debts. This is why credit checking […]
Having the knowledge and procedures in place to for dispute resolution in business can save a lot of time and effort that could be spent on other parts of your business. The trick is to identify disputes early so resolution is found quickly, and ensuring that you are still paid on time. The Order to […]
The 4th instalment in our series of case studies to help recruitment firms get paid for a back door hire. This case study highlights the importance of making your terms known to your customer, so you can demonstrate acceptance by conduct. As previously employed as a Credit Manager by a national recruitment firm and working […]
I could write a book based on the do’s and don’ts of unpaid invoice collection, collected over my years in business I have found a great deal of do’s that can be highly effective, as well as some head-scratching, at times even worrying, don’ts from businesses that I have come across. Some don’ts are glaringly […]
Whether in a time of economic prosperity or uncertainty, access to knowledge, experience and talent needed to grow businesses doesn’t have to be about increasing headcount. Our client base, which includes architects, accountants and recruitment firms, is not only benefiting because more people are choosing to do things such as alter their home, pay closer […]
Poor payment practices are something that should ideally be addressed at the beginning of the business relationship. However, sometimes poor payment practices can arise after business has already begun. So what can you do to combat poor payment practices before or during carrying out work with your customer? Take into account the Battle of the […]