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7 ways to reduce late payments and improve cash flow

Tuesday, 23 August
04:30 PM  ACST

Late payments are costing businesses in Australia over $19 billion every year. This is an increase from the $10 billion it cost businesses in 2015, and it's costing businesses more than ever before (AFN Corporate Finance).

While late payment might be a global issue for SMBs, it's a problem deeply ingrained in Australia’s business culture. In a recent study on 150,000 small Australian businesses, a staggering 53% of all invoices sent were paid late by an average of 23 days (Xero).

These late payments cause a whole host of issues such as difficulty forecasting, cash flow strains, stifling business growth, and hours spent following up on overdue payments.

It's time for that to change. 

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You will learn

Why should you care about late payments
7 ways to reduce late payments and improve cash flow
Internal processes to reduce late payments
How Chaser can support you

Get invoices paid faster and improve cash flow

Australian SMEs issue around $216 billion worth of invoices each year and with 53% of all invoices being late, this means a staggering $115 billion is not being paid to businesses in a timely fashion. That's around $52,000 per small business in Australia, per year (Xero).
 
These late payments can have a devastating effect on businesses' cash flow and their ability to grow. In fact, poor cash flow is responsible for 90% of failures of small and medium businesses (AFN Corporate Finance).
 

In the average month, 48% of all invoices issued get paid late (Xero and Paypal). Research also shows that on average, Australian businesses have their invoices paid 37 days past the due date (ASBFEO).

The impact of late payments can be huge, with businesses often forced to use their own personal credit cards or funds to keep the business running, and can also impact staff retention rates.

Join this webinar for 20-minutes of practical advice and tips on how to get your invoices paid faster and reduce late payments.

Growth Marketing Manager
Chaser

Terms and conditions

The 15 AUD coffee voucher offer applies to new webinar registrants only (‘participant’). To use this offer, you must not be a previous or existing Chaser triallist, or Chaser user. 

This offer is available to contacts at businesses trading in Australia. To claim the offer, the participant must attend the live webinar. 

The participant is awarded a 15 AUD voucher for attending the webinar, which can be redeemed to use with vouchers available in your country - these include Uber Eats, DoorDash, and more.

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