Consequences of Accounts Receivable Invoice Disputes

Late payments and invoice disputes that may have caused the delayed payment can have a significant negative impact on a business. A study conducted in the United Kingdom in 2011 indicated 75% of small businesses were affected by long payment terms or late payments. The research further indicated that 50% of these companies spent 4-6 hours each week managing late accounts. Perhaps the most startling statistic in this study was the fact that 4,000 businesses failed in 2008 as a direct consequence of late payments. Continue reading