For businesses of all sizes, late invoice payments or even completely unpaid invoices, can create significant challenges, impacting cashflow, hindering growth opportunities, and straining relationships with suppliers. Understanding the common causes of late payments is crucial in developing strategies to prevent them. In this article, we will explore some of the primary reasons behind delayed …

Common Causes of Late Invoice Payments and How to Avoid Them Read More »

Sending an overdue invoice reminder can be the difference in getting your invoices paid quicker. In the fast-paced world of business, maintaining a healthy cashflow is vital for the success and sustainability of any organisation. However, despite diligent efforts, businesses often encounter late payments from clients or customers. In such situations, sending overdue invoice reminders …

Why You Need To Send An Overdue Invoice Reminder Read More »

In today’s dynamic and interconnected business environment, maintaining a healthy cashflow is paramount for the sustained success of any organisation. Unfortunately, unpaid debts and late payments can disrupt the smooth operation of a business, posing significant challenges to its financial stability. SMEs each have an average £68,413 owed to them in unpaid invoices! This is …

The Importance of Credit Control in Debt Recovery Read More »

Update: In November 2024 the Bank of England decreased its base rate from 5% to 4.75%.  If you have ever experienced late commercial payment you will know how frustrating it can be. Late payments have quickly became a huge problem for UK businesses with almost a third of SME having experiencing late payments costing at least …

How To Calculate Late Commercial Payment Interest Read More »

For any business, dealing with a difficult debtor can be a challenging and frustrating experience. Unpaid debts can disrupt cash flow, hinder growth, and even jeopardise the survival of a company. However, it is crucial to handle such situations with tact and professionalism to maximise the chances of recovering the owed funds. In this article, …

Navigating Challenging Debtor Situations Read More »

In the dynamic world of business, managing cash flow is critical to success. However, one of the biggest hurdles that businesses face is dealing with bad debts. Bad debts occur when customers fail to pay their outstanding balances, leading to financial losses and operational difficulties. To safeguard your business from this risk, it is essential …

Best Practices For Preventing Bad Debts Read More »

Debt recovery has always been a challenging and time-consuming process for many businesses, no matter their size. However, with advancements in technology, the landscape of debt recovery has undergone a significant transformation. Today, technology plays a crucial role in streamlining and optimising the debt recovery process, making it more efficient, accurate, and cost-effective. In this …

The Transformative Role of Technology in Debt Recovery Read More »