The Analysis News & Opinions
Opinion
Rising costs start to bite as SMEs tighten belts
Over a fifth of UK SMEs signalled rising costs as their biggest concern going into 2017, according to our research. The number of businesses that see rising
costs as a significant challenge has doubled over the past 12 months, underlining the impact of a Brexit-driven rise in inflation and depreciation of the Pound. These fears are of particular concern for manufacturers with almost a third citing this as their biggest challenge. Increasing competition (18%) and late payments (11%) were other key challenges that SMEs highlighted as impacting their businesses. As a consequence of rising costs,
investment intentions have taken a dive as businesses adopt a more cautious approach. Over the next three months, SMEs plan to invest an average of £49,237; less than half the level of intended investment in the second quarter of 2016 (£101,919). Over the same period,
investment from
manufacturing firms has fallen by 150%. Smaller businesses are becoming
increasingly concerned about rising costs. We are seeing more SMEs looking towards efficiency, rather than investment for growth, at the start of 2017. Rising costs fuelled by inflation and the
drop in the value of the Pound are a double- edged sword for many businesses. The manufacturing industry has recently grown at the fastest rate for 25 years, fuelled by an uplift in exports due to the Pound’s depreciation, but manufacturers reliant on importing goods and selling solely in the UK will see margins being significantly eroded. These businesses are facing the challenge
of maintaining profitability while remaining price competitive. This equation is causing a headache for many businesses and we are seeing many SMEs start to tighten their belts and pull back on investment.
David Postings Global chief executive, Bibby Financial Services
25 April 2017 The first webinar will explore how to streamline the cash-collection processes from start to end – whether you collect via direct debit (DD), invoices, or card payments – how to become more efficient, collect cash quicker, provide a better customer experience, and enhance your payment security. This webinar will cover: l The changing landscape of cash payments and cash collections. l How to overcome common cash-collection problems. l Different methods of cash collection. l How to give your customer a simple and efficient payment experience. Register at
https://go.bottomline.com/ cash-collections-best-practice-webinar
23 May 2017 The second webinar will focus on invoice collections. It will explore how to gain real- time visibility and insights on invoice status and worth, how to enhance collaboration and communication between recipients and senders, to drive action and resolution, as well as case study examples. It will cover:
10
www.CCRMagazine.co.uk
Cash collections webinar series
Cash is the lifeblood of any organisation and companies of all sizes rely on generating positive cashflow. Almost all firms face late payments challenges and Zurich Insurance Group estimates small businesses alone are owed more than £250bn in late payments. So, in collaboration with Bottomline
Technologies, CCRMagazine is set to launch a series of three webinars around how to proactively manage the full collections lifecycle from on-boarding a new customer to successfully receiving payments. Efficiently managing the cash-collection
processes and reducing the number of late payments can mitigate the risk of outstanding invoices developing into bad debts. By enabling a more proactive approach, organisations typically receive cash earlier within the credit period. Each webinar will take place at 10.00am and is free to listen in to.
l How to efficiently create, deliver and track invoices. l Problems in invoice collection. lGaining real-time visibility of invoices and cashflow. l How to reduce aged debt by proactively managing invoices. l Delivering enhanced customer experience. l Accessibility and storage of documents. l Case study examples. Register at
https://go.bottomline.com/ invoice-collections-webinar
20 June 2017 The final instalment in the cash collections webinar series will focus on DD collections. It will explore how to improve the DD collection processes to save time and money. It will also consider new regulations and scheme compliance rules, which will directly affect the cash-collection processes. It will cover: l How to become more efficient with DD collections. l New regulations and how they affect you. l Overcoming common issues with DD collections. l Tips on compliance best practice. l Case study examples. Register at
https://go.bottomline.com/ DD-collections-webinar
April 2017
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