Remove resources the-2022-late-payments-report
article thumbnail

Late Payments: Reasons and Remedies

Your Virtual Credit Manager

If a customer promises to pay by a specific date and payment is not received by that date, unless you immediately follow up you you are wasting your previous collection efforts. For more on this subject, check out our post on dealing with payment excuses. Subscribe now Ten Primary Causes of Customer Late Payments 1.

article thumbnail

Call, connect, collect: Call your debtors directly in Chaser for simplified collections

Chaser

Late payments are a widespread challenge in the business world, affecting 87% of businesses globally (Chaser, 2022). In fact, the FSB has reported that delayed payments contribute to the closure of up to 50,000 UK businesses annually.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

UK Company Insolvencies Will Continue Upward as Rising Interest Rates and Cost-Of-Living Crisis Puts the Squeeze on Debtor’s Funds

Know-It Global

With the number of registered company insolvencies at 1,685 and 183 compulsory liquidations in April 2023 – nearly twice the number in April 2022 – the pressure on UK SME cashflow remains very real. Failure to make payments on time is the leading cause of business failure. The impact of the value chain of company failures is stark.

article thumbnail

UK Company Insolvencies Will Continue Upward

Know-It Global

With the number of registered company insolvencies at 1,685 and 183 compulsory liquidations in April 2023 – nearly twice the number in April 2022 – the pressure on UK SME cashflow remains very real. Failure to make payments on time is the leading cause of business failure. The impact of the value chain of company failures is stark.

article thumbnail

The Alarming Trend of Rising Company Insolvencies

Know-It Global

In Scotland the figure is 21% higher compared to March 2022, with 140 insolvencies recorded. The same report has revealed that 47% of businesses have seen at least one of their customers cease trading in the last six months and 25% of businesses have seen at least three of their customers go bust in the same time frame.

article thumbnail

Tackle 7 top healthcare reimbursement issues with Dr. Elizabeth Woodcock

Waystar

When will public health emergency really end? What parts of the Quality Payment Program (QPP) apply to us? When it comes to tackling today’s challenges, there’s no substitute for experience. Late in 2022, it was announced that the Medicare Conversion Factor would decline by 4.48%. is simply too much of a burden to bear.

article thumbnail

4 Financial Mistakes You Can Fix ASAP

Prosper

We all make mistakes on the path to achieving financial well-being — but the good news is, it’s not too late to fix many of these slip-ups. Falling behind on your payments The problem: It’s no secret that staying on top of your payments is a primary money management tip.