We miscalculated at Accountex...
Watch Leigh Stallard from Satago to learn about:
- How you can use Satago's 3D aged debtor report to identify risk hotspots
- How to spot risks for your clients and step in to assist
- Our special offer for Accountex attendees
Thanks so much for coming to see us at Accountex. No doubt you heard us talk about the 382 business that would close during those two days due to late payments.
This figure based on pre-pandemic research - so TODAY it's likely to be much higher.
Recent figures from ONS put the daily average business closures at 1,400 a DAY in Q1 2022.
If late payments still contribute to 20% of business closures (as the previous reserch suggested), then the real number for the two days of Accountex may be as high as 560!
That presents significant risks. Aside from those who've been forced to close, there's the risk losing a key customer or supplier, extending credit to a business who are struggling or risk of cashflow problems and even more late payments.
And, ultimately, your clients’ risks can become your risks.
Add to that the additional uncertainty that we're all facing, and it makes sense to eliminate as much potential risk as possible.
That's why next week we'll be running a free, 20-minute webinar to show you how Satago could help you spot risks in your debtor ledger and those of your clients.