Discrepancy resolution is one of the main reasons for delayed payments. That means your invoice has inaccurate information or has been sent in the wrong format. To address this, prompt and early communication with all relevant stakeholders in your client company are essential, especially with the person who pushes the payment approval button, says Octavian Popa, regional finance director of a pharmaceuticals company. Check out his full 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
2021 saw many small businesses shutting down in China due to numerous challenges, and 2022 is likely to be a tough year too. SMEs may begin the year on a muted note due to the government’s zero-Covid policy, which has led to lockdowns and restrictions, and may point to another year of supply and demand shocks. Want to know more about this topic? Listen to RIABU's Simon Littlewood and Mark Laudi
According to statistics published every year by the United States’ Small Business Administration (SBA), about 20% of businesses fail in the first year, 50% fail within five years, and only 33% survive by the 10th year. These statistics reveal that keeping a business going is not easy. But if you are a current or aspiring entrepreneur, this shouldn’t kill your entrepreneurial spirit. Instead, yo