The quickest and simplest way for any company to save significant money and give their cash flow an immediate boost is to introduce a cost-effective, compliant and controllable late payment/bad debt strategy into their business-as-usual processes.

It might come as a surprise to you to learn that up to a third of firms are forced to write off thousands in unpaid invoices every year because they are too embarrassed to chase their unpaid invoices. In addition, approximately 85% of businesses do not utilise statutory late payment legislation to help cover the cost of collection activity. COLLECTaDEBTpro provides a simple and cost-effective solution that can instantly address these worrying statistics.

A recent survey found that bad debt within the SME marketplace has risen by 61%, with over 1.6m businesses being owed an average of £68,413.

Michael Court, Director and Co-Founder of the online collections website – www.collectadebtpro.com commented, “This huge increase of bad debt could be caused by firms not having trained staff or procedures in place for chasing debt and the lack of an escalation process for late payments.”

Court continued, “Many businesses still measure success by the number of new customers gained, irrespective of whether they pay on time (or at all) later down the line. This mindset needs to change if businesses want to increase available cash flow and maximise sustainable profitability. In many cases, a simple escalation process will dramatically reduce future instances of late payment for good.”


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