Debt collection, whether commercial or consumer, is one vital part of a comprehensive credit risk management system. When we hear the words “credit risk management,” or “Cash Flow” we may have a general idea of the meaning, but for the record, a comprehensive credit risk management system will use a wide range of “before and […]
Small businesses losing up to $7b cashflow from late payments, study finds
Small and medium businesses are losing access to as much as $7 billion a year because bigger companies are not paying their bills on time, according to a study. And late payments on outstanding invoices, worth $115 billion, create a “domino effect” on the broader economy by tying up cashflow. Those findings were based on […]
How to help deal with slow payers?
Customers: As the owner of a business, you rely on them, appreciate them and are extremely grateful for their business. In some cases, though, your customers also can be a source of frustration, particularly when they are slow to pay you for your goods or services. Slow-paying customers put a significant strain on any business. […]