April 2, 2020
RIABU’s Mark Laudi goes on Money FM 89.3 to share the findings of the RIABU survey of 200 finance managers in Singapore, where most of them agree that late payments are an urgent issue and it might get worse.
It might be harder in this economic climate for SMEs to collect payments, but companies themselves need to accept they have control over whether they can get paid on time. If you are a business owner, listen to the interview to find out how to review your internal processes so you stand a shot at surviving this challenging period.
Listen to the full podcast here.
March 25, 2020
As the COVID-19 outbreak gets declared a worldwide pandemic, a Singaporean minister warned that things may change on a permanent basis and this means businesses would also need to change the way they operate.
RIABU’s Simon Littlewood tells Mark Laudi how this crisis provides opportunities for companies to improve their relationships with their customers, but warns against offering discounts.
February 28, 2020
Bombardier has been criticised for making a £5,600 payment to a caterer after half a year, much longer than its own payment terms of 60 days. RIABU’S Simon Littlewood tells Mark Laudi what SMEs can do to avoid being in such a situation, and it is simple – just have the initial conversation. Listen to find out how to have the initial conversation with your new customer.
We contacted Bombardier for their side of the story but we did not receive a reply.
February 26, 2020
Naiise is a Singaporean design retailer that sells products on consignment. It said that it is transitioning from a startup to a full-fledged company, and that it is automating its payments, but its suppliers are saying they are still not seeing their money.
RIABU’s Simon Littlewood tells Mark Laudi his opinion of automating payments. Listen to the end for one of Simon’s retail stories about how products can suddenly move to the front of the shelves in supermarkets.
We contacted Naiise for their side of the story but we did not receive a reply.
February 24, 2020
The Singapore government has downgraded its forecast for its economy this year, and there is a possibility of a recession.
RIABU’S Simon Littlewood tells Mark Laudi the steps SMEs can carry out to manage their cash so they can keep the lights on and pay their employees. Also, advice for companies that are not prepared for this downturn to prepare better for the next one.
February 17, 2020
In Australia, Rio Tinto and Telstra have come under scrutiny for their use of dynamic discounting, which means they were insisting on a discount of 2% for invoices that they will pay on time to their suppliers. The two companies have since ceased this practice.
RIABU’s Simon Littlewood tells Mark Laudi five steps you can take to protect yourself from your customer insisting on dynamic discounting, and what you can do to get an exemption from it.
February 14, 2020
The novel coronavirus has created an environment of fear worldwide. The number of visitors to Singapore has gone down and conferences have been cancelled. Payments might be slower than usual.
RIABU’s Simon Littlewood tells Mark Laudi the steps you can take to protect your business from the negative environment. They include figuring out the customers who are important to you, and extending service, or if you can, financial support, to them.
January 29, 2020
Selling your goods on consignment can be tricky as you don’t get paid unless your goods get sold.
RIABU’s Simon Littlewood tells Mark Laudi specific processes you can implement – payment terms, stock checks and service - with your customer to ensure you get paid.
January 24, 2020
We debunk some known truths about receivables - should you propose partial payments, or turn overdue accounts to a collections agency? Or reward your customers for paying promptly?
RIABU’s Simon Littlewood talks to Mark Laudi about what you have to watch out for when you read advice online about managing your receivables.