Due Diligence
CREDITORWATCH | 5 MIN READ Do you have a blind spot in your business that is hidden, waiting to make an appearance when you least expect it? A car’s engine doesn’t run well or may even fail to work if one part goes wrong. For example, if the timing belt breaks, then your car is off […]
After spending years getting yourself up and running, working on sales and the front end, it’s likely that the back end— accounting practices and accounts receivable —have been somewhat forgotten. With more and more companies defaulting on payments, going into administration and getting wound up by the ATO, now more than ever is the time to […]
Undertaking an annual legal health check of your company is one of the best decisions you will make for it’s reputation, growth and for your sanity. Compliance and risk management don’t sound very sexy but they are crucial to having a sound business and are drivers to achieving business excellence – we call it Future-Proofing. […]
Is it time to outsource your debt collection? Growing debt levels, rising bankruptcy rates and positive industry reform stemming from revised debt collection guidelines issued last year have led many Australian businesses to seek professional help in recovering their customer debts. If you’ve never outsourced your business’ debt collections before, it can be daunting knowing […]
Customer service vs. chasing payments – it can be tough to get the balance right between keeping a customer happy and getting your bills paid on time. There are few things tougher for an SME than trying to collect overdue invoices from clients while also keeping them on-side. To ensure this process is made as […]
Chasing payments: it’s one of the biggest issues affecting SMEs, creating a chain reaction that can lead to the demise of many. There are few things more frustrating when trying to run your business, but the fact remains that many SMEs will sooner or later run into a client that won’t pay on time or, […]
Despite the recent tax amnesties granted to wealthy individuals with monies in offshore tax havens the Australian Tax Office has been militant in its recent debt recovery efforts against SMEs. The importance of efficient credit management has again been brought to the forefront as smaller operators who have essentially been using the ATO as a […]
In recent times the amount of articles and blogs in business circles written surrounding the topic of small business debtors and the ability to get paid on time, if printed, would probably be enough to cover the entire country in paper. I certainly know that I have covered this topic in the past and yet […]
No matter the size of your business, if you’re offering credit to your customers it’s highly likely at some point you will do work for a customer who will blatantly refuse to pay. The most effective tool for collecting money you are owed is simply picking up the phone and asking your debtors if there […]
We all know that cash is king, or rather – cash flow. In today’s volatile economic climate it’s more important than ever to have a good handle on your company finances. Without appropriate systems and processes to maintain positive cash flow, finances can quickly spiral beyond control. Why money really matters Cash flow is the […]