(707) 268-8850    Get SUPPORT

Network Management Services Blog

Unpaid Invoices Were a $825 Billion Problem Last Year

Unpaid Invoices Were a $825 Billion Problem Last Year

Businesses exist to make money. Regardless of what that money is intended for, be it to sustain someone’s lifestyle or to bankroll a cause, a business will cease to be without an incoming cash flow. Unfortunately, unpaid invoices can make that cash flow stutter and slow to a trickle, and many businesses experience this problem as billed money doesn’t come in.

This presents those who rely on a small-to-medium-sized business to make a living, from the CEO to the employees, with another problem. How can they be paid if the business isn’t receiving its payment for services rendered until 30, 60, or even 90 days later? Many industries have begun to make these their typical payment terms.
Resultantly, businesses have found it difficult to continue their operations without the financial inundation from their current clients. You may have encountered this kind of issue yourself.

If so, you are not alone by any stretch. Estimates attribute 5% of the entire national gross domestic product to unpaid invoices, with the average small business waiting to be paid around $84,000. 81% of these invoices are past due by 30 days, which is especially bad when one considers that the average small business only has 27 days of capital saved up and available to them.

All in all, estimates put the total amount owed to small businesses due to unpaid invoices at $825 billion.

Even without taking that sum into consideration, this is a clear issue that many businesses face whenever their invoices are not answered in a timely fashion. If these businesses don’t have any funds to spare beyond what is needed to stay in business (assuming they have even that), how will they ever make the improvements they will need to stay competitive? How many projects have you abandoned halfway because it caused too much financial drain?

While it may seem to make no sense to invest your much-needed capital after we’ve just announced that your company may fail without it, there is a simple way to save your business money as you work to get what you’re due. With managed services from Network Management Services, your capital spending on your technology management can be transferred into a predictable, and budgetable, consistent schedule. We can also provide you with the solutions to help you track who is repaying their debt to you, and who isn’t.

Call (707) 268-8850 for more information.

Four Major Benefits of Business Intelligence
Tip of the Week: A Secure 2018 Relies on Powerful ...
 

Comments

No comments made yet. Be the first to submit a comment
Already Registered? Login Here
Guest
Sunday, August 19 2018

Captcha Image

Mobile? Grab this Article!

QR-Code dieser Seite

Tag Cloud

Tip of the Week Security Technology Cloud Best Practices Network Security Business Computing Privacy Managed IT Services Malware Data Backup Hackers VoIP Backup Google Hosted Solutions Data Recovery Mobile Devices Email Outsourced IT Innovation Tech Term IT Support Cloud Computing Microsoft Data Software Internet of Things BDR Hardware Internet Business Continuity Efficiency Communications Saving Money Business IT Services Small Business Cybercrime Cybersecurity Ransomware Android Smartphones User Tips Disaster Recovery Managed IT Services Smartphone Windows Artificial Intelligence Avoiding Downtime Communication How To Managed IT Gadgets Browser Network Server Computers Alert Collaboration Social Media Mobile Device Management Vulnerability Router Chrome Social Engineering Two-factor Authentication Law Enforcement BYOD Phishing Passwords Save Money Productivity Business Intelligence Mobility Data Security Data Protection Miscellaneous Money Business Management Connectivity Managed Service Provider Spam Compliance Document Management Private Cloud Firewall Computer Facebook Applications Word Remote Monitoring Identity Theft Productivity Operating System Bandwidth Virtualization Blockchain Budget Flexibility Proactive IT Telephone Systems IT Support Office 365 Windows 10 VPN Redundancy Upgrade Physical Security Information Technology Data loss Automation Information Comparison OneNote Government Work/Life Balance Windows 10 File Sharing IT Management Workers Windows 7 Google Drive Wi-Fi CES Quick Tips IT Plan Public Cloud Data Breach Update Employer-Employee Relationship Content Management Paperless Office Content Filtering Access Control Unsupported Software Apps Data storage Smart Tech Office Tips Mobile Device Servers Data Storage Microsoft Office Value Credit Cards App Spam Blocking Big Data Analysis Solid State Drive Networking Holiday Website Hacking Bring Your Own Device Password Infrastructure Business Owner MSP Windows Server 2008 Remote Work Advertising Staff Electronic Health Records Emergency HVAC Fiber-Optic HBO User Error Criminal Sports SaaS Hosted Solution Professional Services Amazon Hosted Computing Leadership Colocation Password Manager Cleaning Netflix Sync Relocation Multi-Factor Security Devices Legal Training Risk Management Digital Signature Machine Learning Patch Management Education Enterprise Content Management Screen Mirroring Software as a Service Hiring/Firing Health Cables Managed Service Outlook Specifications Smart Office Recovery CrashOverride Tools Amazon Web Services Inventory Trending Computing Infrastructure Business Mangement Addiction Computer Care Settings Audit Telephony Humor IoT Save Time Current Events Business Technology Unified Communications Thought Leadership Regulations Augmented Reality Encryption YouTube Scam Password Management Cast Files Frequently Asked Questions Millennials Wireless Technology Reputation Internet Exlporer Downtime Apple Online Shopping HaaS webinar Lifestyle Safety Gmail Cache Samsung Computer Fan Skype IBM Knowledge Virtual Assistant Theft Streaming Media Charger HIPAA Emails The Internet of Things Hybrid Cloud Strategy NIST Marketing Hacker Conferencing Excel Workforce Customer End of Support Students Root Cause Analysis Botnet Hard Drives iPhone Evernote Authentication Entertainment Software Tips Mobile Computing Monitor History Recycling Wireless Internet Workplace Tips USB FENG Start Menu Insurance Electronic Medical Records Network Congestion Telephone System Google Apps Content Filter Flash Cryptocurrency Google Docs Tip of the week Telecommuting Internet exploMicrosoft Human Resources Healthcare PDF Black Market Meetings Travel Wireless Charging Nanotechnology eWaste Wire Mobile Fraud Practices Data Management IT Consultant Storage Unified Threat Management Keyboard Windows 10s Office Accountants Supercomputer Safe Mode Data Warehousing Voice over Internet Protocol Cortana Rootkit Domains Battery Wireless How to Techology Employer Employee Relationship Twitter Remote Computing Experience Remote Worker Public Speaking Presentation Computer Accessories Content Lithium-ion battery Scalability Music Fun Two Factor Authentication Best Practice Vendor Management Politics Wiring Proactive 5G Shadow IT Assessment Tech Support Bluetooth Audiobook Administration Wearable Technology Company Culture Transportation Virtual Reality WiFi Remote Monitoring and Maintenance Books Television Competition Search Customer Relationship Management Automobile Webinar Managing Stress Benefits Worker Commute IP Address Worker Line of Business Public Computer Users Instant Messaging Loyalty Troubleshooting Customer Service Regulation Video Games IT solutions Smart Technology Mobile Office