{"id":3619,"date":"2018-05-08T15:57:39","date_gmt":"2018-05-08T14:57:39","guid":{"rendered":"https:\/\/www.pkfscs.co.uk\/?p=3619"},"modified":"2024-03-12T15:39:58","modified_gmt":"2024-03-12T15:39:58","slug":"manage-late-payments-with-sage","status":"publish","type":"post","link":"https:\/\/www.pkfscs.co.uk\/manage-late-payments-with-sage\/","title":{"rendered":"Manage Late Payments with Sage"},"content":{"rendered":"\n

Late payments are an increasing problem for companies of all sizes, from the sole trader to multinational enterprises. It seems rarely a day goes by without a news story of a company having problems related to cash flow. Indeed, each year across Europe thousands of small and medium-sized enterprises (SMEs) go bankrupt waiting for their invoices to be paid.<\/p>\n\n\n\n

Money tied up in customer credit puts pressure on even the most profitable business. Offering credit is an often-used tool for leveraging sales, but without suitable procedures in place to ensure prompt payment cashflow issues can quickly become unmanageable.<\/p>\n\n\n\n

Manually chasing late payments used to be the only solution. This could be an additional strain on resources in terms of time taken and the added expense of an accounts person chasing. This would only be as effective as the person tasked with the job. Often it would be a reactive process only concentrating on clients in arrears the longest.  In some instances, the customers called would only be those that the person doing the contacting thought wouldn\u2019t give them a difficult time, which is certainly not the best way to ensure a reduction in debt.<\/p>\n\n\n\n

To ensure that all debtors are proactively contacted in a timely manner, implement an automated process <\/a>and say goodbye to:<\/p>\n\n\n

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