If you’re spending your early mornings and late evenings chasing payments, you’re not alone. SMEs in the UK spend 56.4 million hours a year chasing overdue payments, most of which is done after hours. And at any given time an SME has nine outstanding payments.
The phrase: “cash is oxygen” is often used to describe the small businesses, meaning they should get paid on time, all the time. But is it always the customer’s fault if payment doesn’t come on time? What can companies do to stop chasing payments?
RIABU’s Simon Littlewood and Mark Laudi talk about the need to manage your receivables and customers properly, and why if you find yourself always chasing payments, it’s always too late.
Why PR agencies often get paid late by their clients - and what to do about it
PwC warns cash conversion crunch is cutting capex
Who should pay bank fees when the customer pays your invoice - you or the customer?
Should you still hope for a cheque in the mail?
Collection matching - how can you chase when you might have been paid
What salary-earning finance people need to know about the entrepreneurs they pay
Brexit, and its impact on payments to small businesses
Assume ignorance before malice
Beware customers who ask you for an invoice before onboarding
Developing a "countdown to delivery"
What is the kindest way to delay paying your suppliers?
Should you give freebies "for the exposure"?
Should you charge interest on overdue invoices?
Should debtors go to jail, or be allowed to restructure?
What if the BPO is separate from your business contact
By the time you activate the lawyer, it's already too late
Scope creep - and how to avoid it
How to chase for payments without looking desperate
Rising level of corporate debt a risk to global economy
No PO, no pay, no work?
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