A guide to outsourced Direct Debit
processing
Late payment of invoices has continued its upward trend in recent times which in some sectors can be
managed. However, for the majority it can be at best a problem and at worst a route to insolvency.
Research by...
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A guide to outsourced Direct Debit
processing
Late payment of invoices has continued its upward trend in recent times which in some sectors can be
managed. However, for the majority it can be at best a problem and at worst a route to insolvency.
Research by ByteStart suggests 25% of SME failures in the UK are the consequence of issues with
late payments.
Research conducted by Bacs (2008) before the ‘credit crunch’ in 2009 indicated 57% of SMEs
nationwide had experienced late payments at one time or another, more than half of all SMEs wanted
to keep more on top of debtors, almost a third (32%) of SMEs planned to try and automate more of
their essential business payments and 24% of SMEs cited cash flow problems as the main reason for
late payments. Clearly since this time the impact on cash flow and the desire to tackle these issues has
only become stronger.
TFM Centre partner, First Capital Cashflow Ltd (the UK’s leading Bacs approved bureau), have
created an impartial checklist that yo
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