FACTS: The most common reasons given by businesses as to why debts are paid late:
- 23% Waiting for cheques to be signed
- 22% Invoices get lost
- 16% Cashflow problems
- 15% Person dealing with it is unavailable or off sick
- 6% Cheque is in the post
- 5% Waiting for the cheque run or for a new cheque book
- 3% The invoice is being disputed
- 2% We pay on 60/90 days - not 30 days
- 2% Missed the payment run
"Our company had overdue
debts of £850k and few
processes in place to
chase these debts and to
resolve accounts in dispute.
Commercial Credit Control
introduced a system for our
team that meant the level of
overdue debt was reduced to
£500k in less than 4 months."
Telephone:
0870 108 4561 (Sheffield)