UNPAID INVOICES?

Despite the size of your business, unpaid invoices destroy cash flow and are commercially detrimental to all businesses.  Being able to unlock value and improve commercial performance has a lot to do with controlling debt ledgers (aka unpaid bills) and credit terms.  

Generally, I think unpaid debts are a result of either or all of the following:

1. insufficient details of customer(s) or insufficient customer information management systems (the eventual debtor(s));

2. insufficient and/or ineffective written trading terms or credit terms (including guarantees or security taken for credit extended);

3. poor invoicing systems causing slow and/or inaccurate invoicing;

4. slow follow up on outstanding invoices;

5. lack of communication leading to or causing disputes;

If you are experiencing slow collection rates, please review these areas of your business or ask how we can assist and review these for you.

Despite the size of your business, if initial steps such as contact with the customer and an initial letter of demand, have not been carried out, I advise most clients to do homework, before I become involved.

Yours faithfully,

Kristine Hopkins