Female Rep 3

 

 "Quality is Job One"

Have IT Questions?
Call us now (888) 894-6411

TWINTEL Solutions Blog

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 TWINTEL Solutions, 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 (888) 894-6411 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, November 20 2018
If you'd like to register, please fill in the username, password and name fields.

Captcha Image

Mobile? Grab this Article!

QR-Code

Our 10 Benefits

Our 10 Benefits Whitepaper

This whitepaper will evaluate the differences between traditional technical support practices and modern managed IT practices and the pros and cons of both in regards to small and medium-sized businesses.

Download Now!   Need A Consultation?

Tag Cloud

Security Tip of the Week Best Practices Technology Cloud Privacy Hackers Network Security Business Computing Backup Malware Hosted Solutions VoIP Mobile Devices Google Data Business Microsoft roundup nonprofit Software Disaster Recovery bgc Email Innovation Internet Managed IT Services Business Continuity Alert communications Outsourced IT Hardware Smartphones IT Services Tech Term Browser Managed IT Services Windows 10 Data Backup User Tips Ransomware Server Saving Money Computer Efficiency Cloud Computing Android Data Recovery Cybercrime Computers Smartphone Small Business Business Management Internet of Things IT Support Network BDR Workplace Tips Quick Tips IT Support Save Money Productivity Office Windows Passwords Productivity Miscellaneous Communication Managed IT Artificial Intelligence Cybersecurity Mobile Device Management Money Social Engineering Chrome Telephone Systems BYOD Applications Recovery Upgrade Law Enforcement Hacking Facebook Gadgets Firewall Mobility Phishing Work/Life Balance Windows 10 Virtualization Social Media Collaboration Vulnerability Private Cloud Bandwidth Flexibility Bring Your Own Device How To Budget Router Compliance Office Tips Avoiding Downtime App Automation Wi-Fi Password Managed Service Provider Health Information Holiday Data Protection Two-factor Authentication Office 365 Microsoft Office Remote Monitoring VPN Proactive IT Data Security Remote Computing Information Technology Servers Value History Identity Theft Black Market Mobile Device Business Intelligence Sports Apps Operating System Word Mobile Computing Keyboard Data Breach Redundancy Spam Connectivity Safety Scam Google Drive HaaS Risk Management Comparison Blockchain Virtual Assistant Electronic Medical Records IT Plan Automobile Update Physical Security Worker Telephone System Employer-Employee Relationship Data Management WiFi Infrastructure Paperless Office Unified Threat Management Spam Blocking USB Credit Cards Hiring/Firing Entertainment SaaS End of Support Battery Content Filtering Wireless Technology Cleaning Data storage Windows 7 Fraud Business Owner Training Workers YouTube Emergency Unsupported Software CES Data Storage Website Computer Care Big Data Patch Management Document Management Encryption Managed Service Government Content Management OneNote PDF Solid State Drive Legal IT Management Voice over Internet Protocol Samsung Computing Infrastructure The Internet of Things Marketing Save Time Software as a Service Charger Settings HIPAA Users Start Menu Unified Communications Thought Leadership Mouse Bluetooth Netflix Television CrashOverride Online Shopping Authentication Search Engine Chromecast Leadership Humor Best Practice Content Multi-Factor Security Recycling Enterprise Content Management Laptop Audit Hacker Hosted Solution File Sharing Transportation Current Events Data loss Google Apps Smart Office Search Tip of the week Virtual Reality Tools Theft Twitter Administrator Apple Politics HBO Specifications Human Resources Public Computer Flash Evernote Nanotechnology Camera Bing Audiobook Trending eWaste Password Management Touchpad Loyalty Computer Fan Internet Exlporer Practices Augmented Reality NarrowBand Benefits Knowledge Screen Mirroring How to Windows Server 2008 Worker Commute Addiction Rootkit iPhone Outlook Millennials Staff Regulation Sync Wireless Charging Smart Tech Printers Help Desk Video Games Data Warehousing Lifestyle Criminal NIST FENG Hosted Computing Remote Worker Smart Technology Network Congestion Cast Google Docs Password Manager Machine Learning Going Green Windows 10s User Error Troubleshooting Wireless Mobile Cache Downtime Scalability Experience Workforce Digital Signature Education Telephony Fiber-Optic Warranty Employer Employee Relationship webinar Cryptocurrency Reputation Advertising Inventory Wiring Two Factor Authentication Hard Drives Business Mangement HVAC Public Cloud Monitor Colocation Regulations Amazon IBM Techology Professional Services Wireless Internet Vendor Management Robot Frequently Asked Questions Telecommuting Skype Cables Devices Printer Computer Accessories Conferencing Software Tips Safe Mode Assessment Customers Access Control Microchip IT Consultant Relocation Gmail Networking Shadow IT Books Amazon Web Services Supercomputer Meetings Cortana Wire Files Instant Messaging Excel Remote Work Accountants MSP E-Commerce Thank You nonprofits GDPR Congratulations