Delayed invoice settlements are a significant issue for small and medium-sized businesses (SMBs) in Australia. Buyers ‘ negligence can still result in profit losses even with a debt recovery collection agency’s support. Many SMB owners ignore this problem as chasing payments is time-consuming and may risk damaging relationships with regular…
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…
Payment disputes are a frustrating but common reality in business. In 2024, the Australian Small Business and Family Enterprise Ombudsman (ASBFEO) acknowledged how these delayed payments can impact cash flow and, potentially, the supply chain. This comes after 42% of the ASBFEO’s assistance cases were payment disputes among small businesses. …