Innovative low cost Debt Management

A different approach to debt management is seen in due2pay.co.uk.
This company brings an innovative approach to bring suppliers together in order to tackle the issue of late payment debt in industry. It also gives the customer a right to reply. Credit ratings with traditional methods are accepted business management tools.
By opening up the area of late payment and allowing the process to be more visible it is hoped that ethically run businesses will not feel alone. The credit crunch is forcing more companies to watch their costs. Some take the view that it is acceptable to delay payment of invoices as a way of protecting their own business, they have no qualms or feel have no choice but to be a debtor. Some companies are advising suppliers that they are revising the terms on which they do business and extending payment terms on existing invoices. The knock on effect of this is huge. A company taking an extra week credit is in fact enforcing a price decrease. This in turn helps their cash flow, normal business vetting will not bring this to light.
Some small companies are being hit doubly hard.
They are having suppliers increase prices and their customers are extending payment terms without negotiation or demanding price reductions.
The effect of these two demands creates a huge on cost for the supplier.