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Is Implementing a Payment Plan For Debtors a Good Idea?
If you’re trying to handle your collections and credit control yourself, you might often be left wondering if implementing a payment plan for debtors is a good idea? When you’re facing multiple late payments, or sometimes no payments at all, it is tempting to try and be flexible with your debtors in a bid to […]
Flexible Repayments for Bounce Back Loans
Last week the government announced flexible repayments for Bounce Back Loans that were taken out by businesses to weather the economic storm caused by COVID-19. The scheme was introduced to enable SMEs to access vital funding throughout the coronavirus outbreak and it was announced in December 2020 that the scheme would be extended until 31 […]
Top Three Credit Control KPIs to Keep Track Of
With late payments running rife in many industries, our top three credit control KPIs to keep track of will help you identify areas in your current credit control process that require attention and improvement. Late payments have been an ongoing issue, enough to push the government to overhaul the Prompt Payment Code. How effective is […]
UK Government Overhauling Prompt Payment Code
It was announced last week that the UK Government is overhauling the Prompt Payment Code in a bid to tackle late payments made from large businesses to their smaller suppliers. The government hopes this reform will go some way to protecting jobs and helping to rebuild the economy as a result of the COVID-19 pandemic. […]