fbpx
253.777.0763    Get SUPPORT

Graemouse Technologies 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 Graemouse Technologies, 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 253.777.0763 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
Monday, January 21 2019

Captcha Image

Mobile? Grab this Article!

QR-Code dieser Seite

Tag Cloud

Amazon Web Services Google Apps Cybersecurity Hosted Solutions Business Management Sports Money Wire Holiday Authentication Public Cloud User Error Upgrade Mobile Computing Software Encryption Law Enforcement Information Collaboration Small Business Website Comparison Data Ransomware Recovery Mobility Enterprise Content Management Human Resources Automation Work/Life Balance Private Cloud Virtualization Social Engineering File Sharing Blockchain Business Virtual Assistant Redundancy Gadgets Google Docs Spam Blocking IT Management Windows 10 Telephone Systems Windows 10 Staff Innovation Cortana Outsourced IT MSP Windows Tech Term Apps Managed IT Mouse Communication Thought Leadership Machine Learning Accountants Unsupported Software Security Cameras Network Security Fraud Telephony Twitter Amazon Business Intelligence Wi-Fi BYOD Google Hardware Operating System Internet of Things Millennials Microsoft Office Microsoft Vulnerability Access Control Password Management Computer Care Windows Server 2008 Bring Your Own Device VoIP Password Camera Network Congestion Data Protection Data Backup Managed IT Services Voice over Internet Protocol Backup Physical Security Sync Telephone System Security Mobile Devices Mobile Device Management Phishing Online Alert Data Breach Multi-Factor Security Cleaning Patch Management Employer-Employee Relationship Business Continuity Infrastructure IT Support Save Money Saving Money Government IT Plan Data Recovery App Passwords Workforce BDR How To Efficiency Tip of the week Supercomputer Communications Advertising Cybercrime Two-factor Authentication Router Smartphones Botnet Managed Service Applications CES Hackers Administrator Email Artificial Intelligence Miscellaneous Workplace Tips Smartphone Gmail Data Security Business Mangement Social Media Business Computing IT Consultant Cloud Avoiding Downtime Best Practices Managed IT Services Conferencing OneNote Bandwidth Mobile Device Internet Nanotechnology Technology Data loss Settings Windows 7 Malware Servers Google Drive Word Content Management Paperless Office Computers Keyboard Spam Data Storage Server Network Trending Solid State Drive Telecommuting User Tips Wireless Charging Remote Monitoring Productivity Emails Help Desk Cloud Computing Android Connectivity Computer YouTube Chrome Tip of the Week Facebook Update Browser Scam VPN Office 365 Remote Work Disaster Recovery Privacy Software as a Service Identity Theft IT Services Networking Flexibility

Newsletter Sign Up