The commercial world is tightening its belt. Major Banks are reporting a growing number of British firms have fallen behind with their repayments. Business debt collection is more important than ever to prevent cash flow issues. This has led to larger companies getting more aggressive and
1) forcing extended credit terms on suppliers
2) demanding discounts on already agreed prices
3) demanding settlement discounts for just paying on time
4) Imposing retrospective rebates for goods already delivered.
5) Using late payment as an easy way of funding their own cash flows.
These are extremely worrying developments for the whole business community.
It is now more important than ever for small businesses to protect themselves and ensure invoices are paid on time ensuring a company credit check is carried out.This will help them avoid potential cash flow problems, which, if not addressed quickly could result in the ultimate closure of their business.
An internet based service to help victims of late payments called DUE2PAY LIMITED has been specifically designed to help these companies recover their overdue invoices, without the need to go to court or traditional debt recovery methods. It acts to share information on companies identified as late payers by fellow members, giving them the opportunity to make more informed decisions in dealing with a particular company.
The service is offered free on a 60 day trial, after which, normal membership fees will apply. If you are interested please contact DUE2PAY.CO.UK
Thursday 22 January 2009
Monday 5 January 2009
.....late payment of invoices no more
DUE2PAY is offering a totally unique service which is a valuable addition to the credit referencing services provided by companies such as Experian and Equifax. DUE2PAY has been described as being more punchy with more debt recovery than a Solicitor's Letter. It was conceived in the first place as a bolt on to exisiting credit referencing, business debt collection and credit checking. DUE2PAY is an important tool for Companies which want to check the credit worthiness of potential customers and who want to keep track of their customers which may start to pay their bills late. It is an excellent resource for checking on companies you may wish to do business with.
Many companies do not to think how much time and money is spent on phone calls, faxes, visits and solicitor letters. One late payer can cost you well over £100 which is near enough the annual cost of being a member of DUE2PAY. For this, members of DUE2PAY get an array of services which goes far beyond the benefits of traditional credit checks and the costs of traditional debt collection such as solicitors letters and the associated costs of court action.
Vetting of new customers with traditional company credit check can be slow. Companies will rely on commercially available reports which can be over year old. Hasty decisions to do business in the current economic climate can give payment problems in the future. Recovery of invoices owed and their collection can be handed over to a third party though this still involves the supplier in a lot of work. There is nowhere else that you can turn to find up to date information on Late Payers.
As long as there is no dispute over your invoices or transactions, you can let your supplier know that you want your money on time. DUE2PAY's simple interface allows you to take control.
If you do not have any overdue accounts, you can still join up and use the Watch List feature which will keep you informed whenever a company is listed as a late payer.
Many companies do not to think how much time and money is spent on phone calls, faxes, visits and solicitor letters. One late payer can cost you well over £100 which is near enough the annual cost of being a member of DUE2PAY. For this, members of DUE2PAY get an array of services which goes far beyond the benefits of traditional credit checks and the costs of traditional debt collection such as solicitors letters and the associated costs of court action.
Vetting of new customers with traditional company credit check can be slow. Companies will rely on commercially available reports which can be over year old. Hasty decisions to do business in the current economic climate can give payment problems in the future. Recovery of invoices owed and their collection can be handed over to a third party though this still involves the supplier in a lot of work. There is nowhere else that you can turn to find up to date information on Late Payers.
As long as there is no dispute over your invoices or transactions, you can let your supplier know that you want your money on time. DUE2PAY's simple interface allows you to take control.
If you do not have any overdue accounts, you can still join up and use the Watch List feature which will keep you informed whenever a company is listed as a late payer.
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