Better Business Webinar SeriesBest Practice Debtor Management for SMEs
Best Practice Debtor Management for SMEs: 7 Steps to Reduce the Debts
Is your business losing money through unpaid debts?
If so you are not alone: Australian small businesses are currently owed over $26 billion because of unpaid invoices .
- Bad debts account for over 60% of this outstanding amount.
- Late payments have deteriorated almost 21% year-on-year (Sept 2020), despite a wave of government stimulus efforts. Only a fortunate few Australian businesses have escaped unscathed, with companies across all sizes, regions and industry sectors reporting sharp increases in late payment times.
- Small business owners report they spend an average 12 days per year chasing unpaid invoices.
- 27% of small businesses that don’t insist on upfront payments have been forced to take loans or use credit to pay suppliers and wages.
- Veda’ssurvey of payment terms over 12 months revealed that smaller businesses paid invoices the fastest whereas businesses with more than 50 employees paid invoices at almost less than half the speed. Furthermore, Australia has the longest payment terms in the world — with payments averaging 26.4 days late followed by Mexico with 18.6 days.
- 60% of businesses that close down are profitable but they simply run out of cash because of poor cash flow management.
So what can you do to maintain a positive cashflow and avoid becoming one of the statistics?
In this interactive webinar with Jeanie Purdie CEO and founder of credit management agency Business Credit Solutions you will learn the 7 steps to best practice debtor management for your business.
You’ll leave the webinar with a clear best practice checklist of actions that you can implement right away to relieve the sleepless nights, maintain strong relationships with your clients and get paid on time!
Date: Tuesday 2nd March
Time: 12.30pm – 1.30pm AEDST
Location: Over Zoom
About Jeanine Purdie
Jeanine Purdie formed Business Credit Solutions and Repaid! Collections from a client need for quality debt collection outcomes in a deregulated and sometimes confusing industry. Jeanine makes it her mission to educate business owners on how to get paid faster with effective engagement and account processes and how to minimise risk. Her team are empowered to be mindful of the bigger picture to maximise return and enhance customer engagements. When our debtors later call us to enquire about our services, we know we must be doing something right!
What Jeanine’s Clients Say
“It was a pleasure dealing with Business Credit Solutions and will use them again in the future. This was a hard and long case and we succeeded in then end. Thank you for all your help.” Lindsay, Food Distribution Director
“The support from Repaid has been amazing given our circumstances. They are very helpful, professional and maintain their cool in sometimes difficult situations. Keep up the good work.” Jenny, Accountant
“Great, prompt customer service.” Neil, Handyman Services Director
“Excellent service. Would recommend to anyone. Will definitely use Repaid in the future.” Daniel, Bookkeeper
“Using Business Credit Solutions was the most efficient way for our team to manage outstanding debts, whilst being cost effective. The BCS team were professional with ourselves and debtors, whilst displaying a level of empathy to debtors that I had not seen previously with collection agencies. We would not have achieved the same level of return without their assistance. I would highly recommend BCS to my colleagues and look to use them again in the future.” Alexandra, Insolvency Specialist Firm
“Professional, knowledgeable and trustworthy” Stuart, Manufacturing Director
About the Better Business Webinar Series
The Better Business Webinar Series is a series of webinars presented by The BIPlan Mentors, a collective of leading Australian small business specialists.
Each topic in the series is based on one of the business best practice checklists from the BIPlan System®, BB4G's world leading business best practice blue print system.
Successful completion of the checklist items in the BIPlan System® has been shown to be directly related to business profitability.
Of the 100 businesses in our study sample all those scoring less than 30% on the BIPlan checklists said they were losing money, while those scoring 50% or more all described themselves as breaking even, profitable or highly profitable.
Subscribe to the Better Business Webinar Series
The Better Business Webinars are held on the 1st and 3rd Wednesday of each month from 12.30pm - 1.30pm Subscribe to the full webinar series and we'll notify you about each webinar in advance. You'll also be able to access all of the webinar recordings whether or not you attend the session.