Credit, Collections & Insolvency News
Carillion Plc, giant in the construction industry, have now entered compulsory liquidation. So, what went wrong for Carillion, and why does it matter? The firm have been in trouble for some time, but many smaller suppliers are now facing the deficit in millions of pounds of debt that they Carillion have left unpaid. A few…
Read more
Could it be that your KPI’s are negatively impacting on your cash collection performance? One of my biggest gripes about credit is that in most companies the reporting line is directly into Finance and there are times when the clever heads of Finance show how little they understand the function by the stupid KPI’s they…
Read more
The Government should extend the use of project bank accounts for all major public projects to ensure that businesses are protected against catastrophes, like Carillion’s collapse, happening again.In a letter to David Lidington, Minister for the Cabinet Office, the Federation of Small Businesses (FSB) has urged the Government to adopt the practice which would see money for…
Read more
Cleo, an Artifical Intelligence (AI) money manager has launched a one-click charity giving feature, for online and mobile giving across the UK. Since 2015 the number of people giving monthly has fallen, while the number giving on an ad hoc basis has risen. At the same time, the proportion giving via mobile and online – through…
Read more
UK renters are putting themselves at risk of homelessness by failing to have a financial safety net in place, research from Scottish Widows* has found. More than a third (38%) of private renters admit that they’d not be financially secure if their household lost its main income. And nearly four in 10 (39%) – amounting…
Read more
Styles & Wood has become a Supplier Member of the Credit Services Association (CSA), the first to join the extended category of membership since it was announced in November last year. Arctick, winner of the Regulatory Technology solution at the 2017 Credit & Collections Technology Awards with its enterprise Governance, Risk and Compliance (GRC) management software…
Read more
More than a quarter of all invoices are being paid late, according to new official statistics, leaving small businesses struggling for cash. The average reported time to pay was 38.97 days with just over half (51.71%) paid within 30 days. A third (33.02%) were paid between 31 and 60 days, and 15.25% were paid later…
Read more