Business Debt Recovery : Getting Paid
There are several different methods to assist small business in recovering outstanding payments but these are generally costly and time intensive, often requiring more manpower and live personnel to follow up and collect the outstanding payments, or engage collection agencies. These methods mainly concentrate on recovering the outstanding payment and do not provide any way of knowing beforehand the payment history of a potential customer.
The Australian Payment Register www.australianpaymentregister.com.au assists business debt recovery by providing a free online portal for businesses to record the details of payments owing to them. The debtor business is then notified by email that the outstanding payments will be made publically viewable. This allows them an opportunity to resolve the debt. This free & effective process provides a powerful tool to assist in small business debt collection.
The Australian Payment Register was established by the Kingsway Group who have been a leader in the field of financial risk management in Australia for over a decade. They have conducted over 20,000 financial assessments for Australia’s largest procurement & credit managers, including the ACT,NSW & Victorian Governments. For further information please visit www.australianpaymentregister.com.au