In Australia, the end of financial year (EOFY) on June 30 marks a pivotal time for businesses to finalise their financial records and lodge tax returns. It also provides companies with a valuable opportunity to assess their financial health over the past year. Businesses seeking debt collection also use this…
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…