Every business has suffered from late payments at some point, but it might be surprising to hear that businesses waste on average half a day every single week just chasing late payments. For SMEs in particular this is valuable time that could be far better spent, not to mention the serious effects this has on the cashflow of these companies. Worryingly, a new survey by BACS has shown that for over a third of small businesses the problem of late payments has grown in 2011 with the large corporations being particularly highlighted as late payers.

SMEs need to address the problem of late payments earlier by improving their credit control strategies - the average payment time of 52 days just isn't allowing these businesses to function as efficiently as they could. In addition, businesses need a better understanding about how to deal with late payments.

However, there is another alternative. Paper Mountain Solutions can save you time and money by dealing with this area of your business for you, allowing you to concentrate on the important role of making more money not chasing owed money. Get in touch with This e-mail address is being protected from spambots. You need JavaScript enabled to view it today to find out more.

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