Don't let clients risk their credit rating
  Don't become known as a serial late-payer - proposed changes to the law will put your credit rating at risk. A recent Dun & Bradstreet survey showed a majority of Australian businesses had paid up to a quarter of their bills late in the past 12 months. There are risks in becoming known as a serial late payer, says Damian Karmelich of D & B, especially when new Federal consumer credit laws come into effect in 2010. Credit providers will have access to more detailed information about payment history, which could make credit harder to get and more expensive for recalcitrant payers. But there'll be benefits too, for the vast majority of Australian businesses who keep the wheels of commerce turning by paying promptly.Topics: Business Processes, Financial Management, Management |
 Damian Karmelich, Dun & Bradstreet |