Blog post -

Nurture relationships at all levels

Working capital is the most important aspect that helps a company survive and keep its people employed. But it all depends on prompt payment by their customers.

Despite the advantages of technology and automation, doing business is still all about people. So it's a good idea to nurture relationships with your customer, and that includes helping your finance team build relationships with their counterparts in your customer's company. Get more insights from Richard Hayler, CFO of Nutrition Technologies, in his conversation with RIABU's Simon Littlewood.

Get more tips on effective cash flow management from our book, Let The Cash Flow. To find out more about how RIABU helps small businesses get paid on time, visit RIABU.com

Topics

  • Business enterprise, General

Categories

  • accounts receivable
  • business owners
  • cash flow
  • late payments
  • sme
  • risk
  • smes
  • small business commissioner

Contacts

Mark Laudi

Press contact Managing Partner (+65) 6223 2249

Related content

Can Australian small businesses survive without government support?


Small businesses in Australia are getting crushed from all sides. They are witnessing inflationary pressure, late payment from customers, and the Omicron variant is forcing them to work with reduced staff. All these factors are making it difficult to keep their businesses alive.
Late payment of invoices is an issue faced by many Australian SMEs. A study by the country’s Payment Times Report

Singapore vs Hong Kong: Which city's SMEs are better at getting paid on time?

Singapore and Hong Kong have economies of roughly the same size, but Singapore is way behind when it comes to paying SMEs on time. 
Xero, an accounting software company, revealed that US$3 billion worth of bills were unpaid to SMEs in Singapore, compared to Hong Kong's US$1.7 billion. Only 39.45% of payments to Singapore SMEs are made on time, while 56.04% of payments to Hong Kong SMEs are made

US and Canada small businesses’ sales are growing but inflation remains a major concern


Xero, which launched its Small Business Insights for the United States and Canada, revealed in its report that sales of small firms are growing and their invoices are also being paid quicker than the average historical trend, but high inflation is playing spoilsport. SMEs should evaluate how the current unpredictable business climate will affect their working capital as well as consider foster

UK suppliers breaking off business ties with companies due to late payments


According to a surveyby Ivalua, six in ten (59%) UK businesses stated their relationships with suppliers had ended as a result of frequent late payments, and 62% said such ties had been severely harmed.

If companies keep making late payments, two-thirds of businesses (67%) worry that there would be a "global cashflow catastrophe."
A third of businesses (35%) had a “severe lack of vis