You’ve done the work or provided the goods. The client is happy – or at least they’ve not said they’re not – and you’ve sent the invoice. But the deadline as stated in your payment terms has been and gone and no payment has dropped into your bank account. Oh dear. What do you do?…

When we look at what is considered as the most important measures of a business success there are three key numbers: Sales (Also known as Revenue, Income or Turnover). Net Profit (Also known as EBIT, EBITA or Earnings). Net Worth. (Also called Book Value or Shareholders Equity) For PLC’s these three numbers are a major…

Insolvency levels rose by 2% in the UK in 2017 with more than 18,000 company insolvencies. This equates to an average of 47 firms falling victim to insolvency each and every day. In an uncertain economic climate, the risk of insolvency is ever present and Atradius economists predict this upward trend will continue with an…

Waiting for your customers to contact you and only servicing them when they do is unproductive, unpredictable and creates issues with managing resources as traffic levels fluctuate. But customer engagement doesn’t have to be this way. Think about it. Typically, the relationship with your customers involves a series of events over time. These can be…

The latest Bank of England  (BOE) report outlined that In 2017, UK secured finance to acquire vehicles totalled £44bn. In the same year, UK unsecured lending reached £300bn of which auto finance accounted for £58bn. Changing appetites towards risk in unsecured lending look set to continue, opening up opportunities for used car dealers to tap into a…

The outcome of the latest FCA consultation into high-cost credit is expected to strengthen protection for vulnerable consumers. How can technologies can help lenders identify vulnerability and safeguard their customers from unmanageable debt? Is the answer to how best to define a vulnerable consumer really as simple as quoting the FCA’s definition? “A vulnerable consumer…

If you were competing in Le Mans, you wouldn’t take your racing car to the local mechanic to race prep it. You’d take it to a specialist shop that had the skills to create a high-performance machine capable of winning the race. You’d constantly be on the lookout for new ways to give your car…

Late payment is one of the leading causes of cash flow problems.  And, without adequate preparation, even a single late payment can have a significant impact on sustainability and profitability.  Therefore, it’s vital to prepare for the worst to reduce the risks to your business. Here are seven ways how: 1. Spread your customer base as widely…

Dunning, or collection management as it’s sometimes known, is a vital process in credit control. It sees organisations follow set processes to chase for outstanding payments, making the chance of receiving payment more likely. Credit controllers face a number of challenges when chasing for payment, such as customers not responding to reminders and evading payment…

Nuisance calls are becoming a real problem in the industry. We have all been there, whether it is someone constantly ringing you about an accident you may have been in or some robotic voice advising you on PPI. Some businesses continue to break the law through their persistence. As it stands at the moment only…

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