As a business owner or finance professional, one of the most frustrating situations you can encounter is a customer who refuses to pay their invoice. Whether it’s due to cash flow issues, a dispute over the goods or services provided, or just plain unwillingness to settle, unpaid invoices can significantly impact your business’s cash flow and bottom line. 

So, what are your options when a customer refuses to pay? In this post, we’ll explore the various steps you can take to recover the debt and improve your credit control processes moving forward.

Welcome to the month of November! The dark nights are upon us and now that Halloween is over, it seems acceptable to mention Christmas?

In October we have been busy developing our internal systems to make communication with our customers even better, as well as improvements to the Know-it platform!

The month of October marks National Women’s Small Business Month 2024, and it is only right that we shine a light on Know-it as a female founded business!  Since 2021, the company has been supporting businesses getting paid, but in this blog, we’ll discuss how Know-it began.

Recovering commercial debts globally can be a complex and challenging process, requiring careful planning and strategic execution. International debt recovery involves navigating different legal systems, languages and currencies which can make the task daunting for businesses operating across borders. However, with the right approach and assistance, it is possible to successfully recover international debts.

Dealing with a customer who has gone into liquidation or closed their business while owing you money is one of the most challenging situations a business can face. Unfortunately, it’s not uncommon, and the consequences can be severe—impacting your cash flow, profitability, and even the overall sustainability of your business. However, with the right strategies in place, you can minimise the risk of finding yourself in this difficult position.

Dealing with a customer who has gone into liquidation or closed their business while owing you money is one of the most challenging situations a business can face. Unfortunately, it’s not uncommon, and the consequences can be severe—impacting your cash flow, profitability, and even the overall sustainability of your business. However, with the right strategies in place, you can minimise the risk of finding yourself in this difficult position.

Find out what we’ve been up to in August at Know-it!

Dealing with a customer who has gone into liquidation or closed their business while owing you money is one of the most challenging situations a business can face. Unfortunately, it’s not uncommon, and the consequences can be severe—impacting your cash flow, profitability, and even the overall sustainability of your business. However, with the right strategies in place, you can minimise the risk of finding yourself in this difficult position.

Here’s what you should include in your invoice, along with tips on how to write it to make it as complete as possible.

Chasing invoices is essential to maintain a consistent and proactive approach to ensure timely payments and healthy financial operations. But how do you know when to start chasing invoices? And how often should you be chasing your customers for payment? While the frequency of chasing invoices may vary depending on your business and clients, we have a suggested plan which works very well for our clients.