Episodes
Friday Jun 12, 2020
What happens when Covid support ends and deferred costs bite?
Friday Jun 12, 2020
Friday Jun 12, 2020
With the Covid-19 lockdown ending in many countries all around the world, businesses will not just be getting back to serving customers. They will also be asking themselves how to meet their deferred obligations.
Governments all around the world have provided huge support packages to tide business over the crisis. But in many cases, these just allowed businesses to defer expenses - not to avoid them altogether.
The chickens are going to come home to roost once these deferment periods end. Is your business ready for them?
RIABU's Simon Littlewood and Mark Laudi discuss what you can do to get ready.
Wednesday Jun 03, 2020
It's not funny: Ad agencies decry clients who pay their invoices late
Wednesday Jun 03, 2020
Wednesday Jun 03, 2020
An alliance of advertising industry associations has called out some of the world's largest firms for spending US$20 bln annually in Corporate Social Responsibility (CSR) programs, even as they pay their suppliers late.
VoxComm represents industry associations in Malaysia, Hong Kong, Europe, the US, Brazil, Mexico, Australia and others, and says "companies bully agencies into longer payment terms or just flagrantly flout contractual payment terms. The unintended consequences mean agencies in-turn struggle to meet payroll, often 75% of their costs. Then have to delay paying their freelancers and sub-contractors who have been hired to work directly for these clients".
For these sub-contractors, "Their fees are their salaries. It is what pays the rent and what puts food on the table."
Delaying payment was "directly at odds with [the companies'] avowed policy of CSR", VoxComm said. Full story here.
For Simon Littlewood and Mark Laudi, this is of course all too familiar.
In this podcast they discuss the issue and what you can do about it - and end with a rather unorthodox way of getting paid on time.
Email them at service@riabu.com
Thursday May 28, 2020
We have scored a huge Pledge2Pay supporter...but we can't tell you who it is
Thursday May 28, 2020
Thursday May 28, 2020
We are totally thrilled to have secured the support of a large European company for the Pledge2Pay. They wrote us an email stating that they would update their systems, and meet the pledge until the end of the year.
But in the same email, they said they didn't want publicity.
In this podcast, RIABU's Simon Littlewood and Mark Laudi dance around the identity of the company and explain what they are going to do with it. Reach us at service@riabu.com
Tuesday May 26, 2020
Large US company forces 90 day payment terms on suppliers
Tuesday May 26, 2020
Tuesday May 26, 2020
Many companies are looking to shore up their cash holdings during these difficult economic times. But some very large companies are using the opportunity to change their payment terms, to the detriment of their suppliers.
One such company, which recently reported very healthy sales including during Covid-affected months, recently declared that it would only pay suppliers after 90 days. This at the same time that it boasted of large cash reserves, and redundancy in its supply chain.
In this podcast, RIABU's Simon Littlewood and Mark Laudi discuss what - if anything - suppliers can do about it.
You can also read our blog on this story here.
Monday May 25, 2020
Monday May 25, 2020
The Paris-based organization which represents millions of companies in more than 100 countries has recognized the critical importance of SMEs to the global economy and has listed ways that their larger customers can help them
RIABU’s Mark Laudi and Simon Littlewood discuss the announcement by the ICC which closely mirrors RIABU’s pledge2pay, already enthusiastically endorsed by the SICC and ASME in Singapore.
Is this a good sign that the world is waking up to the need to preserve SMEs who (in Singapore) provide nearly 70% of jobs? What are the implications?
Wednesday May 20, 2020
Singaporean SMEs missing out on tool to get invoices paid
Wednesday May 20, 2020
Wednesday May 20, 2020
Singaporean SMEs are missing out on a cash flow management tool commonly used by companies in the US and Europe: Trade Credit Insurance. It ensures your invoices get paid, even if your customer defaults.
But there's much more to it than meets the eye. While ensuring you get paid is clearly an important feature, there are other benefits even if you never make a claim. And in Singapore, the government even subsidises companies through the little-known Trade Credit Insurance Scheme (TCIS).
RIABU's Simon Littlewood and Mark Laudi speak to Clemens Philippi, CEO South East Asia of Euler Hermes, a division of Allianz and a partner of RIABU, for the most important points you need to know about it.
Tuesday May 19, 2020
Is RIABU’s Pledge2Pay the solution to the SME cash crunch in Singapore?
Tuesday May 19, 2020
Tuesday May 19, 2020
Simon J Littlewood asks RIABU’s Mark Laudi about the Pledge2Pay initiative and learns that many SMEs cannot borrow and have less than 2 months cash in hand.
With the COVID-19 circuit breaker going into its second month RIABU has launched Pledge2Pay to encourage large companies with sound balance sheets to pay SMEs in 30 days.
SMEs employ nearly 70% of Singaporeans. Many may become insolvent without further help and if they do Singapore’s unemployment is likely to soar.
What can you do to support Pledge2Pay, and why is it so important?
Friday May 15, 2020
Friday May 15, 2020
Singapore International Chamber of Commerce (SICC) was the first to jump on board Pledge2Pay – RIABU’s initiative to encourage large companies to pay their SME suppliers in 30 days.
But CEO Victor Mills goes even further. He says invoices should be paid on sight!
In today’s podcast, he tells RIABU’s Mark Laudi and Simon Littlewood why SICC enthusiastically endorsed Pledge2Pay, and he shares his own challenges in managing receivables.
Friday May 08, 2020
Friday May 08, 2020
RIABU’s Mark Laudi and Simon Littlewood discuss a recent survey of 4000 US businesses showing that a majority have less than 2 months cash reserve, and that many are either unwilling or unable to access federal support.
Many may go under without further help, 3% already have, and unemployment is likely to soar.
What can US SMEs do to generate the cash they need to survive? How does the US situation compare with other countries dealing with COVID-19, including Singapore whose efforts have been much lauded? What lessons can business leaders everywhere learn?
Monday Apr 27, 2020
Monday Apr 27, 2020
COVID-19 measures have interrupted your business, and it may take a year for activity to return to former levels, but you have been busy making the changes you need to survive.
RIABU’s Mark Laudi and Simon Littlewood discuss how, having successfully realigned your business to survive reduced activity and identified how to thrive by taking share (and people) from competitors, you can embed a new focus on profitability with a balanced scorecard.