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Commercial Debt Recovery | Why Ceasing To Supply Bad Paying Customers Makes Business Sense
Every business will have customers within their commercial debt recovery process who are difficult to deal with. They might be slow to pay, or they may demand discounts for no reason. When these customers become a drain on your resources, it can make sense to stop supplying them altogether. When should I cease to supply […]
How To Charge Interest On Late Payments
Charging interest on late payments is a legal way to recover compensation on money that is owed to you. When a customer pays their debt late, they are essentially borrowing money from you. Businesses can earn back some of the money that they have lost due to late payments. In this blog post, we will […]
Interest Rate Rise Could Help SMEs Tackle Late Payments
The Bank of England’s decision to increase the interest rate could be good news for SMEs tackle late payments. The higher rate will make it more expensive for companies to delay settling their debts, and may encourage them to pay up sooner. This could be a welcome relief for SMEs who are often struggling to […]
What To Do When An Invoice Exceeds Terms
Chasing overdue invoice payments can be a hassle. Not only do you have to make sure that you collect invoices on time, but you also need to be aware of any late payment penalties or interest charges that might apply. If an invoice payment exceeds the terms of the invoice, what should you do? Not […]
3 Key Considerations To Improve Your Credit Control Process
Running a successful business is all about cash flow. You need to make sure you have enough money coming in to cover your expenses, and that includes debt repayments. One of the most important aspects of cash flow is credit control. If you don’t have a good credit control process in place, you could find […]
Ignored Overdue Invoices Won’t Pay Themselves | Why You Should Let Go Of Fear And Act On Late Payments
Are you one of the many business owners who have been struggling to get paid on time? If so, you know how frustrating and demoralising it can be. You may feel like you’re chasing your tail – and that’s because you are! It’s time to take action. There’s a lot of fear when it comes […]
How To Manage The Most Popular Excuses for Non-Payment
As a business owner, you will be familiar with the frustration of late payments. Not only do they impact your cash flow and put stress on your finances, but they can also damage your relationship with the customer. It’s important to manage late payment excuses so that you can protect your business and get the […]
Why UK Businesses Outsource Their Debt Recovery
In the current economic climate, UK businesses are finding it increasingly difficult to recover unpaid debts. The debt recovery process can be daunting for businesses, especially if they have never done it before. There are many things to consider, such as which debts to pursue, how to pursue them, and what methods to use. This […]
How To Reduce The Stress of Late Payments
It’s the middle of the month and you’re still waiting on a payment from last month. You keep checking your bank account, but it still hasn’t come in. You start to get worried- what if this is going to be another month where you don’t get paid on time? This can be a very stressful […]
5 Credit Control Mistakes That Are Impacting Your Business Cash Flow
You may be surprised to learn that credit control is one of the most important aspects of any business. After all, it is credit control that helps you to protect your cash flow and ensure that you are able to pay your bills on time. Unfortunately, many businesses make credit control mistakes that have a […]