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Businesses suffer as clients delay invoice payment – average payment terms increase by 16.5%

Monday, July 02, 2012 Back

Here’s how to stop it happening to you...

According to the latest Dun & Bradstreet Trade Payments Analysis, which looks at the ability of companies to pay their bills, and the time that they take to pay them, the number of payments that fell within the “standard” 30-day period, fell by 16.5% last quarter, compared with the previous quarter.

And it’s not just large businesses that are affected: on average, companies with less than 5 staff are now being paid 53.2 days after invoice – something that places a huge extra burden on cashflow.

Whilst this trend is significant, stressful and painful for most businesses, you can take steps to minimise and avoid it altogether.  By implementing, communicating and managing a consistent Accounts Receivable process, you can ensure that the majority of your clients pay within your standard payment terms.

We have a proven Aged Receivables system that minimises late payments and ensures that more of your clients pay on time.  Our system combines email and phone call reminders with a solid debtor management process, so if your clients are paying you later and later, let us look after your Aged Receivables for you.

You’ll get

  • Improved cashflow
  • A stronger, more resilient business
  • The ability to pay your staff and bills on time (which builds and reinforces trust & loyalty with those most important to your success)
  • A big reduction in stress and sleepless nights.

For more information about how you can make sure you get paid by your clients on time, give us a call now on (02) 9939 6888, or email us on enquiries@fmgroup.com.au

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