How to be a better paymaster

How to be a better paymaster and build credibility?

Ensuring that bills are paid on time is good business practice in which both buyers and sellers have a part to play.

Late payment eats into profits. Your net margin will be reduced if invoices are not paid on time and ultimately this may threaten the viability of your business.

The longer a debt remains unpaid the greater the risk that it will never be paid.

This guide is designed to help both suppliers and buyers tackle the late payment issue.

The Better Payment Practice Group (BPPG) was formed in 1997 as a partnership between the public and private sectors. Its aim is to improve the payment culture of the UK business community and reduce the incidence of late payment of commercial debt.

Using the Late Payment of Commercial Debts (Interest) Act 1998 as a catalyst for change, the BPPG is implementing a major campaign to raise awareness of the issue. This is being reinforced by practical help to the business community in improving credit management and payment practices and thereby helping to reduce the problem of late payment.

This reading is a must for all business people who wish to cultivate good payment habits and thus building the financial credibility with suppliers and bankers. Please click HERE to visit website.

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