In the wake of the unprecedented COVID pandemic, we’re facing a ‘debt tsunami’. The pace of global debt accumulation spurred by the fallout of 2020 is going to leave the global economy struggling without a major intervention. According to the Institute of International Finance, the total level of global indebtedness increased by $15 trillion in 2020, reaching around 365% of global GDP by the end of the year.

Late payments have always been a problem, but the current climate is making their impact much bigger. Without the payments they are owed, small and medium sized businesses are left without the adequate cash flow to pay suppliers, which can have a devastating knock-on effect. For larger companies, meanwhile, it can wreak havoc on their balance sheets.


Studies have shown that late payments damage SMEs the most significantly, with UK SME late payment debt reaching a very concerning £23.4 billion at the end of 2019. In the wake of the pandemic, 20% of SMEs say that late payments have reached an all-time high over the last 12 months, while 64% fear that late payments resulting from the pandemic could result in their business going under in the near future.

If 2020 taught us anything it’s that forecasts are far from an exact science. Indeed, this time last year, many of the predictions being made in even the most revered financial circles were being subtly undermined.


Regulation is often used in political scaremongering. There’s too much red tape in the business world, according to some. And in certain cases, that may be true. Especially when it comes to the legal complexities of debt collections. But is more regulation (or less, for that matter) inherently bad ...

Building a business case for debt collection software isn’t all about facts and figures. Even if you recognise the indisputable benefits of collections software, your decision-makers’ perspectives are likely to be very different. Presentation, then, can be the difference between buy-in and bust. He ...


The last decade has seen procurement evolve into a vital strategic function in the banking sector. These days, procurement is about more than simple cost-cutting. Economic tumult, tight budgets, demanding customers and increased competition require a procurement team more involved in up front, stra ...




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