XFER Blog

XFER has been serving Michigan since 1994, providing IT Support such as technical helpdesk support, computer support, and consulting to small and medium-sized businesses.

Unpaid Invoices Were a $825 Billion Problem Last Year

Unpaid Invoices Were a $825 Billion Problem Last Year

Businesses exist to make money. Regardless of what that money is intended for, be it to sustain someone’s lifestyle or to bankroll a cause, a business will cease to be without an incoming cash flow. Unfortunately, unpaid invoices can make that cash flow stutter and slow to a trickle, and many businesses experience this problem as billed money doesn’t come in.

This presents those who rely on a small-to-medium-sized business to make a living, from the CEO to the employees, with another problem. How can they be paid if the business isn’t receiving its payment for services rendered until 30, 60, or even 90 days later? Many industries have begun to make these their typical payment terms.
Resultantly, businesses have found it difficult to continue their operations without the financial inundation from their current clients. You may have encountered this kind of issue yourself.

If so, you are not alone by any stretch. Estimates attribute 5% of the entire national gross domestic product to unpaid invoices, with the average small business waiting to be paid around $84,000. 81% of these invoices are past due by 30 days, which is especially bad when one considers that the average small business only has 27 days of capital saved up and available to them.

All in all, estimates put the total amount owed to small businesses due to unpaid invoices at $825 billion.

Even without taking that sum into consideration, this is a clear issue that many businesses face whenever their invoices are not answered in a timely fashion. If these businesses don’t have any funds to spare beyond what is needed to stay in business (assuming they have even that), how will they ever make the improvements they will need to stay competitive? How many projects have you abandoned halfway because it caused too much financial drain?

While it may seem to make no sense to invest your much-needed capital after we’ve just announced that your company may fail without it, there is a simple way to save your business money as you work to get what you’re due. With managed services from XFER, your capital spending on your technology management can be transferred into a predictable, and budgetable, consistent schedule. We can also provide you with the solutions to help you track who is repaying their debt to you, and who isn’t.

Call 734-927-6666 / 800-Get-XFER for more information.

Four Major Benefits of Business Intelligence
Tip of the Week: A Secure 2018 Relies on Powerful ...
 

Comments

No comments made yet. Be the first to submit a comment
Already Registered? Login Here
Guest
Tuesday, October 16 2018
If you'd like to register, please fill in the username, password and name fields.

Captcha Image

Mobile? Grab this Article!

QR-Code dieser Seite

Tag Cloud

Security Technology Tip of the Week Privacy Microsoft Internet Cloud Saving Money Best Practices Backup Software Workplace Tips Managed Service Provider Business Computing Hackers Small Business Data Hosted Solutions Mobile Devices Google Productivity Hardware Mobile Office VoIP Gadgets Email Malware Quick Tips Network Security IT Support Efficiency Network Innovation Social Media Business Management IT Services Business Continuity Smartphones Miscellaneous Server Upgrade Virtualization Business Communication Windows Disaster Recovery Computer Managed IT Services Microsoft Office Communications Data Backup User Tips Users Mobile Device Management Passwords Browser Android Marketing Save Money Smartphone Ransomware Data Recovery Holiday Alert WiFi Mobile Computing Vendor Management Tech Term Outsourced IT Cybercrime Internet of Things Operating System Windows 10 Remote Monitoring Computers Bring Your Own Device Apple BYOD Information Technology Avoiding Downtime BDR Cloud Computing The Internet of Things Chrome Artificial Intelligence Firewall Router Going Green Automation Current Events VPN Big Data History Best Practice Remote Computing IT Solutions Telephone Systems Trending Application Wireless Technology Collaboration Facebook Hacking IT Consultant Social Engineering Health Spam Employer-Employee Relationship Cybersecurity Phone System App Lithium-ion Battery Printer Bandwidth Money Proactive IT Office Managed IT Services Budget Excel Recovery Content Filtering Applications Windows 10 Business Managament Networking Unified Threat Management Fax Server Maintenance Business Intelligence Windows 8 Two-factor Authentication iPhone Mobility How To Private Cloud Redundancy Productivity User Error Law Enforcement Office 365 Humor Phishing Sports Website Apps Value Outlook Tutorials Virus Data Protection PowerPoint Gmail Antivirus Managed IT Data Security Customer Relationship Management Training Hard Drives Analytics Mouse File Sharing Memory IT Management Data Management Conferencing Save Time Administration Mobile Device Information Encryption Analysis Digital Payment Search Office Tips Social Networking Tablet Computer Repair Twitter Compliance IT Support Document Management Flexibility Vulnerability Streaming Media Risk Management Blockchain Google Drive Entertainment Connectivity Word Settings Retail Identity Theft Saving Time Tech Support Inbound Marketing Downtime Scam Network Congestion Meetings Access Control Data loss Smart Tech Servers Best Available Touchscreen Bluetooth DDoS Spam Blocking Fraud CES People IT Plan Robot Solid State Drive USB Machine Learning Black Market Samsung Content Management Wireless Physical Security Unsupported Software Online Currency Cleaning Password Infrastructure Video Surveillance Managed Service Recycling Public Cloud OneNote Paperless Office Point of Sale Education SaaS Webinar Update Piracy Statistics IBM Data Storage Data storage Comparison Instant Messaging Leadership Administrator Virtual Assistant Programming Windows 7 Skype Work/Life Balance Data Breach Environment Computer Accessories eWaste Internet Exlporer Human Resources Running Cable Workers Biometrics Augmented Reality Intranet PDF Telephone System Wearable Technology HaaS End of Support IT service Safety Wi-Fi Government Credit Cards Social YouTube Hacker Reputation Worker Commute Millennials Line of Business Windows 8.1 Update Mobile Macro User Cortana Electronic Health Records Text Messaging Knowledge Multi-Factor Security Bloatware Strategy Work Station Display Internet exploMicrosoft Co-managed IT Managing Stress FENG Wireless Charging Domains Gaming Console Wire Cryptocurrency Debate Patch Management Frequently Asked Questions Content Filter Camera NarrowBand Science Customers 360 Emails Workforce Authentication MSP Uninterrupted Power Supply Professional Services Screen Mirroring Google Apps Lifestyle Entrepreneur Insurance Advertising Electronic Medical Records Flash Fiber-Optic Smart Office Safe Mode Distributed Denial of Service Files Tip of the week Windows 10s Amazon Storage Chromecast Business Owner Software as a Service Tablets Windows Media Player Telecommuting Virtual Desktop Nanotechnology Remote Worker Hiring/Firing Charger Tools Cast HVAC HIPAA Cost Management Practices Notifications Hiring/Firing Sync Cables Accountants Business Technology IT Security Colocation Windows Server 2008 Amazon Web Services Webcam Addiction Virtual Private Network Laptop Upgrades Analyitcs Enterprise Content Management Print Server SharePoint Hosted Solution Software Tips Remote Work Customer Service Wiring Shadow IT Computer Care Password Manager Crowdfunding Keyboard Help Desk Hosted Computing Proactive Remote Support Hybrid Cloud Telephony Consultant Unified Communications Students nternet Staff PC Care IaaS Computing Infrastructure Audit Online Shopping Cache Project Management Touchpad Google Docs 3D Password Management Law Firm IT Relocation Cameras Netflix Scheduling Devices GDPR Company Culture Legal Botnet Business Mangement Monitor Data Warehousing Specifications Inventory Remote Monitoring and Maintenance Licensing Start Menu Root Cause Analysis Theft Healthcare eBay Supercomputer Voice over Internet Protocol Virtual Reality Digital Signature IoT Alerts Regulations WIndows 7 Computer Fan Evernote Wireless Internet Warranty LinkedIn NIST HBO Printer Server Shortcut Thought Leadership E-Commerce Net Neutrality Travel Criminal Music Worker Audiobook Battery Regulation Video Games Assessment Rootkit Politics Transportation Printers Scalability Television Troubleshooting Webinar Benefits Automobile How to Public Computer IT solutions Techology Employer Employee Relationship CrashOverride Smart Technology Thank You Books Loyalty Experience Two Factor Authentication Congratulations Content Emergency

Sign up for our Newsletter!

  • Company Name *
  • First Name *
  • Last Name *
      • Company Name *
      • Number of Participants *
      • First Name *
      • Last Name *
      • Phone *
      • Yes, subscribe me to: