There are plenty of tools available to collect money from debtors during COVID-19, but do you know how to use them? Learn to recognise when you should offer leniency, register a payment default or escalate to a debt collector.
Do you review your customers on an annual basis? ApplyEasy makes this easy with the Credit Limit Reassessment feature. This new feature acts as a reminder tool to notify you when a customer is coming up to the anniversary of their initial approval. You are then provided with the ability to re-evaluate the customer’s credit […]
What is an Unfair Preference? Essentially, an unfair preference is when a creditor, within the six months before a company goes into administration or liquidation, receives payment(s) from that company that is more than they would receive if the payment(s) hadn’t occurred and they proved for their full debt in the liquidation. The “unfair preference” […]
Prevent being affected by phoenix activity The federal government has recently introduced a “new” hotline for anyone to report businesses that they believe are undertaking phoenix activity. This comes as a 2018 report from PricewaterhouseCoopers, funded by the government, revealed that the estimated annual cost of phoenix activity was now $5.13 billion dollars. In 2012, […]
What a year! Each year I always talk about what an amazing year we’ve had reaching new heights and how far we’ve come since we started only 7 years ago. To think now, another year has passed, and our growth has well exceeded expectations. Our business has not only created an amazing place for our […]
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 […]
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, […]
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 […]