Bredy Network Management Corporation Blogs

2 minutes reading time (363 words)

Unpaid Invoices are a Major Problem For SMBs

Unpaid Invoices are a Major Problem For SMBs

While many different people open businesses, the primary reason that they all do so is to make money. A positive cash flow is essential if the business is to generate funds that support a cause or provide a decent living. However, to collect this cash flow, a business must have their invoices returned. As it happens, this doesn’t often occur in a timely manner.

Whether you own a business or work for one, you need the business to make money so you can make money and settle your finances and debts. This becomes challenging when the status quo dictates that payment terms can stretch the time for an invoice to be paid to up to three months. This delay between the transaction and the actual payment has led to many operational difficulties in many businesses.

There’s a good chance that you know about this from firsthand experience, as these difficulties are exceptionally common. Estimates have attributed 5 percent of the national gross domestic product to unpaid invoices. 81 percent of invoices are past due by 30 days or more, with the average small business waiting for approximately $84,000 to come in from invoices that have yet to be paid. This average business also only has about 27 days of assets saved.

Added up, estimates say that businesses were owed $825 billion in unpaid invoices in 2016.

It is pretty clear that outstanding invoices are a considerable problem for small businesses, and in some cases medium-sized establishments as well. Improvement and innovation simply can’t happen if all of a business’ funds are tied up in sustaining themselves as they wait for payment. When was the last time you had to postpone something as you waited for money to be available for it?

However, sometimes you have to spend money in order to make money. With the services we offer at BNMC, you can have your capital spend reduced by budgeting your IT costs into a predictable monthly rate. We’ll provide you with software that can help you keep track of from where, and when, you should expect a payment.

For more information about line of business applications and the other solutions we have available, give us a call at 978-482-2020.



No comments made yet. Be the first to submit a comment
Already Registered? Login Here
Monday, June 25 2018
If you'd like to register, please fill in the username, password and name fields.

Captcha Image

Subscribe to Our Blog!

Mobile? Grab this Article!

Qr Code

Tag Cloud

Security Tip of the Week Best Practices Technology Cloud Email Malware Privacy Business Computing Hackers Internet Software Microsoft Google Hosted Solutions Business Ransomware Network Security Computer Smartphone Android IT Services Mobile Devices Windows Data Management Tech Term Managed IT Services Backup Hardware Cloud Computing Innovation Windows 10 Cybersecurity Small Business Internet of Things App Business Continuity User Tips Browser Encryption IT Support Server Remote Monitoring Business Management Data Data Recovery Gmail Artificial Intelligence Saving Money IT Support Productivity Windows 10 Disaster Recovery Tip of the week Smartphones Productivity Data Backup Chrome Vulnerability Managed Service Provider Facebook Phishing Infrastructure Office 365 Efficiency Outsourced IT Word Office Tips Money Robot Passwords Big Data Google Drive Antivirus Bandwidth Settings Upgrade Communication Applications Analytics Government Managed IT Services communications YouTube IT Management Data storage Risk Management Social Media Outlook Spam Computing Employer-Employee Relationship Monitors WiFi Vendor Management The Internet of Things Save Money LiFi Mobile Device Hosted Solution Two-factor Authentication VoIP Automation Paperless Office Administration Avoiding Downtime HIPAA End of Support Scam Content Filtering Mouse Virtual Reality Miscellaneous Mobile Security Unified Threat Management Data loss Apple SaaS Telephone Systems Storage Workplace Tips VPN Data Security Holiday Firewall Business Technology Microsoft Office BYOD Maintenance Server Management Virtual Private Network Alert Network Website Augmented Reality K-12 Schools Buisness Customer Service File Sharing How To Lenovo Cookies Computer Care IBM Statistics Tablet Sports Wireless Alt Codes Mail Merge Blockchain Social Networking Managing Stress Virtual Desktop Office Samsung Solid State Drive Downloads Computing Infrastructure Professional Services Identity Theft Bring Your Own Device Operating System Shortcut Distributed Denial of Service Chatbots eWaste VoIP Unified Threat Management Star Wars Laptop Tech Support Bluetooth Comparison Wearable Technology Network upgrade Chromebook Social Firefox Superfish Nanotechnology Training Corporate Profile Budget Automobile Typing Humor Address Permissions Motherboard Cables Social Engineering Hard Disk Drive Information Technology Alerts USB Websites Best Practice Patch Management Managed IT Service Identity Continuity Dell Current Events User Error Fraud Cost Management Specifications Smart Office Downtime Cabling Customer Relationship Management Screen Reader Cybercrime WannaCry Marketing Google Maps Cryptocurrency Wires Safety Apps Heating/Cooling Multi-Factor Security Licensing Dongle Google Docs Break Fix Solar Remote Computing IT solutions Going Green Time Management Printer Assessment Gadgets Search Black Friday Work Network Congestion Education Hacks Networking Smart Tech Service Level Agreement Bitcoin Emergency Router Voice over Internet Protocol Google Wallet Servers Google Calendar Cooperation Wi-Fi Digital Payment Business Growth Dark Web Compliance Business Intelligence Writing desktop Printing Network Management Access Control Hotspot Internet Exlporer Users Halloween Legal Cyber Monday IT Technicians Optimization Computers Disaster Password Connectivity Digital Staff Leominster Dark Data Collaboration Windows 8 Modem Unified Communications Drones Legislation Hacker Microsoft Excel Regulations Company Culture Retail Touchscreen SharePoint Language Value Scary Stories Deep Learning Managed IT Smart Technology Mirgation Recycling Display Uninterrupted Power Supply Quick Tips Techology IoT Running Cable Politics Document Management Spyware Recovery How To Work/Life Balance Health Error Private Cloud Black Market Point of Sale Ben McDonald shares Mobile Computing Travel Law Enforcement Electronic Medical Records Notifications G Suite Physical Security Supercomputer CrashOverride Twitter Emoji Motion Sickness Upgrades Gadget Staffing Administrator BDR Crowdsourcing Taxes Personal Information Botnet IT Budget Web Server what was your? Cortana 3D Printing GPS IT Consultant Machine Learning Processors Cameras Virtualization Meetings Unsupported Software Tracking Update FinTech Cleaning Computer Repair Relocation CCTV Webcam Mobile Device Management Mobile Data

Sign up for our Newsletter!

  • Company Name *
  • First Name *
  • Last Name *

      What Our Clients Say

      • BNMC has provided us with nothing less than outstanding service and results for all of our IT needs for the past few years. Every member of their staff is professional, knowledgeable, friendly and eager to solve any problem...
      • 1
      • 2
      • 3