Blog Archives - Page 9 of 10

How real-time insolvency data can support your credit control strategy

How real-time insolvency data supports credit control

By incorporating insolvency data into your credit control processes, you can monitor business health in real-time and connect multiple data feeds to receive alerts when a business reaches the brink of insolvency. Using data-driven technology to bolster due diligence protocols can help you make informed decisions when extending credit, exploring business partnerships, and building professional …

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business owner frustrated waiting for late payments

The Dramatic Impact of Late Payments on SMEs

Blog / By Lynne Darcey Quigley

Late payments are ravaging SMEs in the UK with 50,000 businesses failing each year as a result of waiting for overdue invoices. And the problem with late payments is only getting worse. The total value of overdue invoices has increased by 22% in the past 12 months with businesses now chasing £61 billion worth of …

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Business owner using data to shape her decisions

The Data Challenge for Tech Founders

Blog / By Lynne Darcey Quigley

This article was written by Helen Tanner, founder of the award-winning, Bristol-based, global data agency Data3. The have just launched myDATA3 which is an instant, all-in-one business dashboard tool designed for start-up founders. Why I designed a data tool for start-up founders…because I am one My Dad has been a SME business owner for as …

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image of business credit card to avoid late payments

5 Steps To Avoid Late Payments

Blog / By Lynne Darcey Quigley

Late payments are a huge problem in the UK. Research from Hitachi Capital UK found that a staggering £51.5 billion was estimated to have cost UK SMEs in 2019 with the actual figure expected to be much larger. A third of SMEs have said that they had experienced late payments of at least £10,000 in …

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business owner frustrated with large amounts of bad debt

Avoid Bad Debt with Better Credit Management

Blog / By Lynne Darcey Quigley

What is bad debt? Bad debt is credit owed but has been deemed uncollectible, in other words the cash is lost and must be written off. Not good for anyone! All businesses should seek to avoid bad debt but unfortunately, it’s a risk that businesses face when granting credit to customers. The good news though …

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business able to make payments as they have a low credit risk

Avoiding Credit Risk & Improving Your Cash Flow

Blog / By Lynne Darcey Quigley

Credit risk. Sounds like quite a daunting term doesn’t it. But it doesn’t need to be. You see, being exposed to a certain degree of credit risk is part of doing business today. Businesses need to find the balance between amplifying sales by granting credit and leaving themselves too vulnerable by granting too much credit, …

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small business owner outsourcing their credit control

Benefits of Outsourced Credit Control Services

Blog / By Lynne Darcey Quigley

Credit control is an essential practice for all businesses big or small and is key to keeping a healthy cash flow. However, it can take a large amount of time, resources and expertise to effectively carry out. That’s why many businesses opt for using outsourced credit control services that can fulfil their credit control duties. …

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business owner typing a strong letter for outstanding payment

How to write a strong warning letter for outstanding payments

Blog / By Lynne Darcey Quigley

Writing a strong warning letter for outstanding payments can be challenging. You’ve delivered what you’ve promised and sent your invoice in plenty of time. But the payment date comes and goes and you’re still waiting on getting paid. It’s a situation too many businesses find themselves in. Thankfully, there are a few things you can …

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How To Write An Invoice Email

Blog / By Lynne Darcey Quigley

It’s frightening the number of excuses we’ve seen businesses use for late payment blaming the initial invoice. Any error at all on an invoice including addresses, payment details, not itemising products/services, incorrect invoice numbers. Let’s put first things first and look at how to write an invoice email. How to write an invoice email If …

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Using Technology for Better Credit Management

Blog / By Lynne Darcey Quigley

Harnessing technology to better your business is vital for survival in the current climate. Being more efficient with resources and time is what will separate good business practices from great. Robotic Process Automation (RPA), Artificial Intelligence (AI), Blockchain and Machine Learning are all technologies that are rapidly becoming part of everyday life for the modern …

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