The importance of implementing robust invoice payment terms

Late payments and overdue invoices are a constant battle for some small businesses, with business owners reporting spending over half of their working week chasing unpaid debts.  To help, introducing and implementing payment terms to your credit control strategy can support you and your teams to ensure best practice and prompt payment.  Working with a […]

Understanding the commercial debt recovery process

Understanding the debt collection process can help your business be more successful in recovering the money you are owed, whether from outstanding invoices or late payments.  Late payment is a huge problem for businesses in the UK.  Not only does it have a negative impact on your overall cash flow affecting your day-to-day operations, but […]

What are the required skills for a successful collection agency

Debt collection is a highly skilled profession and sector.  There are numerous hard and soft skills required to be a debt collector – and a successful collector at that.  Due to the high level of skill required, commercial debt collection agencies are in high demand, as they continue to help businesses collect on unpaid or […]

Why late payment culture is no longer acceptable

It’s become something of an accepted `norm` that most businesses pay late. Invoices are received, popped to one side, reminders are sent, and it is not until days, if not weeks after the agreed payment term deadline, or a third-party agent becomes involved that payment is received.  However, what we don’t know throughout all of […]

Strengthening the rules around late payment

At the start of 2021, the government announced positive changes to the Prompt Payment Code, explicitly surrounding the rules and guidance around late payments.  One of the most significant changes implemented is halving the payment period from 60 days to 30 (for small businesses).  This change is set to help protect jobs and support future […]

Why work with a commercial collection agency

Business only works if you continually collect on monies owed for the goods and services you provide.  However, we understand that collecting unpaid invoices is probably not the best part of your job and certainly not an element that everyone feels confident with.  We also know just how much time can be taken up chasing […]

Reasons for Late Payment

The team at Direct Route has worked in debt collection for many, many years, which means when it comes to excuses and reasons for late payment, we’ve probably heard them all!  Late payment and unpaid invoices are some of the most significant issues facing small businesses today.  It can be crippling.  Affecting cash flow, a […]

History of debt collection

The need to collect on unpaid debts existed long before any type of currency and money was invented.  Instead, the concept of “being in debt” started with bartering goods and services, when one of the parties could not deliver their product or service as agreed.  In actual fact, how we have dealt with debt over […]

Outstanding invoices giving you headaches

Let us start by offering further clarification on what we mean by outstanding invoices.  Outstanding invoices are those that are indeed unpaid, but they are not yet late.  However, to keep your credit control effective, you don’t want outstanding invoices to become unpaid late invoices, so it’s essential to put some mitigating steps in place […]

How long do you have to collect outstanding invoices

There’s always a feeling of dread when a lost or misplaced invoice reappears or an invoice that has been forgotten about resurfaces.  This dread and sinking feeling only deepens when you check your systems and realise that the invoice in question is still outstanding and is now a considerably overdue debt.  Overdue, late, or simply non-payment of invoices is […]