UK SMEs are struggling to operate efficiently as input costs are rising rapidly in the country, which is impacting their operating margin significantly. As a result, one in five SMEs is finding it difficult to pay their suppliers. In addition, one in four SMEs is facing late payments from their customers as they are also struggling with higher prices.
In this podcast, RIABU’s Simon Littlewood and Mark Laudi discuss how SMEs can focus on strengthening relationships with their customers by understanding their needs and wants, which can result in a faster collection of receivables and improved cash cycle. Read more about this topic here.
Why understanding your customer’s internal payment process is vital
Negotiate your contract price at acceptable profit margins
Customer intimacy is about nurturing relationships at all levels
Borrowing money can’t solve SMEs’ cashflow problems anymore, but operational efficiencies can
If you want customers to follow payment terms, internal stakeholders need to sing from the same hymn sheet
How clear communication can get you paid on time
Payment of invoices on time benefits all stakeholders
The important link between environmental sustainability and cash flow
Outlook for SMEs in China, UK, and eastern Europe
More UK companies are going bankrupt
How to reset your customer relationships for 2022
Singapore vs Hong Kong: Which city‘s SMEs are better at getting paid on time?
Lessons for suppliers from the Evergrande saga
The true cost of late payments
Tech is not a silver bullet for invoicing problems
Why so many businesses fail in their first year
Using technology to better your customer relationships
How to stop draggy payments
We speak to someone who actually gets paid on time!
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