COA Solutions – Business Accounting Software

If 10-day payment terms seem tight, how about meeting your supplier’s invoice demands in five days?

As outlined in the previous blog posting, the UK government has created guidelines to help public sector organisations pay their contractors in a timely fashion – and those guidelines just got tougher.

As a supplier during economic challenging times, there’s one thing that’s worse than seeing your amount of work reduce – and that’s not being paid for work you’ve already completed.

Large businesses, smaller firms and single contractors all innovate to speculate; they use the cash they earn to create new opportunities. Late payments create cash flow concerns that lead to a range of problems.

My mother is full of age-old wisdom and sayings. One that was often heard through-out my teenage years was ” You will be judged by the company you keep”, mainly used to discourage me from falling into the wrong crowd and to get me to concentrate on where I wanted to be in the future.

In partnership with the National Computing Centre (NCC), we recently undertook a research project to understand the current drivers in the area of Source to Pay and understand the level of adoption.