RIABU - Tips and tools for getting paid on time by your customers

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.

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.

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.

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.

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.

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.

Fintechs offer automation solutions, which is often seen as a panacea to payments. Although we agree that automation can provide you with clearer and faster data, can it make sure your customer is more likely to pull the trigger on your payments at the end of the day?

RIABU’s Simon Littlewood talks to Mark Laudi about what automation can do and can’t do in helping you get paid.

Chinese New Year is coming up in Singapore and as we wind down for a long weekend, we would still like to get paid before that.

RIABU’s Simon Littlewood tells Mark Laudi how an upcoming public holiday is the perfect excuse for your customers to delay your payments, and how you can use customer service to mitigate the typical excuses your customers might throw at you.

Singaporean SMEs have scaled back their expansion plans for 2020 due to a slower economy ahead. Companies have been advised to “watch and wait”.

RIABU’s Simon Littlewood tells Mark Laudi what measures they can put in place to guard against the potential impact of a slowing economy

The government in New South Wales will pay their suppliers in five days, down from 20 days. They are stepping up to plug the cash flow gap, but does it help late payments to SMEs?

RIABU’s Simon Littlewood tells Mark Laudi that big businesses need to step up and pay small businesses faster, and if automation and technology will help companies get paid faster.