Dec 29, 2020
Updated June 2023: The Bank of England increased interest rates to their highest point in 15 years, up to 5%. The Bank of England have now raised interest rates for the ninth time this year in an effort to combat inflation. Interest rates have now climbed from 4.5% to 5%, the most rapidly these rates …
What Does An Interest Rate Rise Mean For Your Business? Read More »
In any business, effective credit control and maintaining a healthy cashflow is crucial for long-term success. Effective credit control practices help businesses manage their finances by monitoring and regulating credit sales and ensuring timely payments. However, it is essential to strike a balance between maintaining healthy cashflow and nurturing strong customer relationships. This article explores …
The Impact of Credit Control on Customer Relationships Read More »
Download this guide as a pdf as well as our other resources for free here! Credit control is a vital aspect of financial management for businesses. It involves managing credit sales and making informed credit decisions, ensuring timely payment from customers, and minimising bad debt. This guide provides a comprehensive overview of credit control practices …
Offering trade credit can bring a huge boost to your business! In today’s business landscape, companies are constantly seeking ways to attract and retain customers while maintaining a steady cash flow. One effective strategy that accomplishes both goals is offering trade credit. This is an arrangement where businesses extend credit to their customers, allowing them …
The Benefits of Offering Trade Credit & How To Mitigate Risk Read More »
Effective credit control is crucial for maintaining a healthy cashflow and financial stability. By implementing a well-structured credit control process, businesses can mitigate the risks associated with late payments and bad debts, ensuring a steady stream of revenue. In this article, we will explore strategies to optimise your credit control process, helping you maximise cashflow! …
Maximising Cashflow: Enhancing Your Credit Control Process Read More »
Glasgow-based fintech Know-it has launched a new national TV ad campaign in partnership with STV. Having won the prestigious Startup Summit award, Know-it were awarded airtime on STV to reach a national audience on primetime television. Know-it is a cloud-based credit management platform that streamlines the complete credit control process, enabling users to credit check …
Scottish Startup Know-it Reaches National Audiences With New STV Ad Campaign Read More »
Team Know-it have just returned from an amazing trip down to Accountex London! We had a great time talking to new and existing clients whilst showing new audiences how Know-it helps businesses mitigate credit risk, reduce debtor days and boost cashflow. Are you an accountant? Know-it helps accountants and bookkeepers better serve their clients by …
As a business owner, it’s essential to understand and manage credit risk to maintain a healthy cash flow and avoid financial losses. Credit risk is the potential for a borrower to fail to repay a loan or credit extended to them. Understanding how much credit risk a business could pose to you is critical if …
Effective Strategies For Managing Credit Risk In Your Business Read More »
Company insolvencies continue to climb steeply March monthly insolvency statistics reveal. 2,457 businesses in England & Wales entered liquidation, an increase of 16% year on year. In Scotland the figure is 21% higher compared to March 2022, with 140 insolvencies recorded. The rise of Creditors’ Voluntary Liquidations (CVLs) paints an extremely bleak picture. 2,115 CVLs …
The Alarming Trend of Rising Company Insolvencies Read More »
Reducing your debtor days is fundamental to maximising your cashflow! Since you’re here reading this article we suspect you’re having issues with not being paid on time. You’re not alone. Late payments are crippling businesses all over the UK with 52% of businesses experiencing late payment, and 25% reporting increased instances of late payment in …
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