Comments on: Say goodbye to slow payers http://blog.womensnetwork.com.au/2009/02/27/say-goodbye-to-slow-payers/ The Official Blog for Womens Network Australia Wed, 25 Aug 2010 23:02:59 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Belinda http://blog.womensnetwork.com.au/2009/02/27/say-goodbye-to-slow-payers/comment-page-1/#comment-904 Belinda Thu, 16 Jul 2009 00:36:20 +0000 http://blog.womensnetwork.com.au/?p=79#comment-904 Thank you for pointing out we need to make it easy for customers to pay. I sometimes cannot believe how difficult businesses make their invoicing and payment systems (especially when supplying businesses). Sometimes I think they don't actually want to be paid. At COSBOA Virgin National Small Business Summit 2 very interesting points about accounts were raised. the first was how during good times we forget to recheck our account holders. We do credit checks etc when they first apply for an account but rarely follow up on their payment performaance and ability to pay which can hurt when things go awry. The other was the the Federal government was bringing in requirements for account ot be paid within 30 days or for the business to be able to charge penalty interest. It was interesting that for many SMEs it was government departments causing the most concern with late-paying accounts. Oh God I am on a roll. The third thing was the ability of large business to change its payment terms for SME to 60 and 90 days with little room for the SME supplier to move. The difficulty of this and action that could be taken was raised with the ACCC rep whi suggested it was difficult because most SME rarely make formal complaint for investigation. Thank you for pointing out we need to make it easy for customers to pay. I sometimes cannot believe how difficult businesses make their invoicing and payment systems (especially when supplying businesses). Sometimes I think they don’t actually want to be paid.

At COSBOA Virgin National Small Business Summit 2 very interesting points about accounts were raised. the first was how during good times we forget to recheck our account holders. We do credit checks etc when they first apply for an account but rarely follow up on their payment performaance and ability to pay which can hurt when things go awry.

The other was the the Federal government was bringing in requirements for account ot be paid within 30 days or for the business to be able to charge penalty interest.

It was interesting that for many SMEs it was government departments causing the most concern with late-paying accounts.

Oh God I am on a roll. The third thing was the ability of large business to change its payment terms for SME to 60 and 90 days with little room for the SME supplier to move. The difficulty of this and action that could be taken was raised with the ACCC rep whi suggested it was difficult because most SME rarely make formal complaint for investigation.

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