Call us: 03332 413 203 | E-mail: contact@cmgroupuk.com
Kier and Seddon are the latest firms to be removed from the Governments prompt payment code scheme, as they have failed to stick to the 60 day payment terms agreed for all supplier invoices. The full list of companies remove are: Kier group firms – Kier Integrated Services; Kier Infrastucture and Overseas; Kier Construction; Kier […]
Here are our top credit management FAQs for the month of October. How will I know when to put a customer on hold for non-payment ? Your decision to put a customer on hold for non-payment will depend entirely on your collection strategy. If you don’t have a definitive collection strategy in place, consider how […]
Welcome to our September Credit Management News blog. We have given you snippets of the latest topics that we hope are of interest to you and provide information to help with your business. If there is anything you would like to see more of in our round ups let us know: CREDIT MANAGEMENT Two Fifths […]
Welcome to our August Credit Management News blog. We have given you snippets of the latest topics that we hope are of interest to you and provide information to help with your business. If there is anything you would like to see more of in our round ups let us know: CREDIT MANAGEMENT Asset Finance […]
The latest figures released by the insolvency service show: Company insolvencies increased in Q2 2019 compared with Q1 2019 this was driven by an increase in creditors voluntary liquidations, Compulsory liquidations, administrations and company voluntary arrangements (CVAs) decreased in Q2 2019 Company insolvencies, in Q2 2019, increased to 4,231 (2.6%) its the highest level since […]
The prompt payment Code register was set up so that companies would agree best practice for payment standards this was to manage and control the late payment culture in all industries but is particularly relevant to the construction industry. Companies commit to pay 95% of all supplier invoices within 60 days. The first review of […]
During 2017 there was a change in legislation where by large companies would be required to produce reports on their payment practices and performances. The reports are required for all companies meeting the criteria, from October 2017 (depending on the date of commencement of the company’s financial year). The criteria to be classed as a […]
West Cheshire & North Wales Chamber – the benefits of credit management guidance FSB research, published in December 2016, has found that if there had been no late payments in 2014, 50,000 businesses would have stayed open; this would have added £2.5 billion to the UK economy. Unless a business operates under pro rate terms […]
The benefits of using your free Credit management toolkit as part of your chamber membership As part of membership, Liverpool Chamber members have access to expert credit management advice and guidance. Credit management processes are often overlooked in favour of other aspects of a business such as sales and marketing; however in order to have […]
New research has been carried out using cloud accounting software Free agent into the payment of invoices to Freelancers and micro-business owners from large companies. This became a big issue that was highlighted recently with the closure of Carillon and the affect that snowballed down the supply chain. The research shows that large business continues […]