Know-It Global

APRIL 19, 2023

These 2,115 businesses were all placed into liquidation due to not being able to pay their creditors for outstanding invoices. These are frightening stats, especially taking into account the £68,413 the average SME is owed in outstanding invoices! This is why following solid credit control processes are so important.

Bad Debt 98

Bad Debt Credit and Collections Credit Risk Credit Management 98

Know-It Global

APRIL 13, 2023

Reducing your debtor days is fundamental to maximising your cashflow! Late payments are crippling businesses all over the UK with 52% of businesses experiencing late payment , and 25% reporting increased instances of late payment in 2022. days to 31.3 days and the average late payment time hit 8.8

Credit and Collections 97

Credit and Collections Days Sales Outstanding Credit Scoring DSO 97

Know-It Global

JULY 5, 2023

Maintaining a healthy cashflow through credit control is crucial for the long-term success and sustainability of any enterprise, especially against the backdrop of soaring insolvencies and record instances of late payment. One effective strategy for achieving this goal is to implement a robust credit control system.

Bad Debt 52

Bad Debt Credit and Collections Debt Collections Credit Risk 52

Know-It Global

JUNE 20, 2023

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 and strategies that your business can implement to mitigate credit risk, reduce debtor days and boost cashflow!

Bad Debt 19

Bad Debt Credit and Collections Debt Collections Credit Risk 19

Know-It Global

APRIL 11, 2023

Is there cash hiding in your sales ledger? Over 23,000 UK companies were made insolvent in 2022, up 56% compared to the year before, with almost 20,000 of these companies winding up because of not being able to pay their outstanding debts. And the answer is looking at our sales ledger. Do you ‘know’ your aged debtors?

Credit and Collections 52

Credit and Collections Credit Risk Credit Management 52

Know-It Global

JANUARY 31, 2023

Trade credit insurance provides much needed protection against the risk of your customers going into liquidation or administration! Think about the companies on your sales ledger and their average order value, could you afford for some of them not to be able to pay you as a result of going insolvent?

Credit and Collections 52

Credit and Collections Bad Debt Credit Risk 52