Late payments are one of the most persistent challenges for Australian businesses. According to industry reports, insolvencies in Australian enterprises rose by 57% over the past year due to delayed payments. Others attribute delays to invoicing errors, disputes, and unclear payment terms. But behind many of these issues lies a…
Late payments remain a systemic threat to Australian businesses, with 2024 data showing approximately 39% of enterprises facing extended payment delays. The crisis has intensified to the point where the Australian Small Business and Family Enterprise Ombudsman (ASBFEO) reports a 50% rise in calls from SMEs facing insolvency due to…
Late payments are on the rise, and businesses are feeling the pinch. According to CreditorWatch’s Business Risk Index, September 2024 saw the highest level of late payments since March 2021. The rate of B2B payments overdue by more than 60 days jumped 21.4% year-on-year and 7.9% since the start of…
Collecting debts can be a frustrating endeavour, especially when dealing with stubborn and dishonest customers. This often places a significant burden on business owners and staff, particularly in micro, small, and medium enterprises with limited resources. When invoices remain unpaid, companies may face challenges that can disrupt operations, hinder growth,…