Here at Know-it we help you uncover a potential cashflow catastrophe before it happens, thanks to our unsecured creditor claims data. This information is so valuable and will save you the stress of potentially losing out on being paid for invoices you’ve raised. So, what are unsecured creditor claims? Unsecured creditor claims identify which of …
In today’s fast-paced and interconnected world, credit control has become a vital aspect of financial management for businesses. Traditionally, credit management involved manual processes and relied heavily on human intervention, which often proved time-consuming and prone to errors. However, with the advent of advanced technologies, the landscape of credit control has undergone a remarkable transformation. …
Did you know you’re legally entitled to claim late payment interest and compensation for any of your overdue invoices? Late payments are one of the most frustrating parts of doing business and the effects are devastating, with 440,000 businesses possibly being forced to close as a direct result of being paid late. This shows the …
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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 …
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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 …
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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! …
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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 …
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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 …
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