The professional and proven way to boost cashflow and reduce admin
The majority of small and medium sized businesses in the UK are affected by late payments.
Whether it’s a single invoice or a larger portion of the sales ledger, not being paid as per terms ends up costing businesses significantly more than they realise in time and resources.
Read on to find out more on how WorkCap may be able to help support you and your business, freeing up valuable time to focus on the things that are important to you…
Find out if we can support you, and how!
How does the process work?
-
Book a no obligation call/video meeting with one of our friendly team. They'll take the time to understand you and your business, determining the best way we may be able to assist, any costs and the timelines involved.
-
We like speed and simplicity, so we'll ask for the minimum information to be sent through to verify the data and get your cases set up on our specialist system. If you use any of the main accounting packages you can simply export in the native format and we'll take it from there!
-
Switch your attention back to the things that matter to you most whilst our expert team works on recovering your invoices in a compliant, professional and considerate manner. You'll receive monthly reports on progress but can check in anytime if there's something more urgent.
How important is it to protect cashflow?
- Small business are currently chasing more than £50bn of late payments
[Tide, 2020] - Cash flow and working capital management remain top business priorities
[ICAEW members, 2022] - The average UK SME is chasing five outstanding invoices at any one time
[Tide, 2020] - Over a third of company directors said they had faced an increase in late payments during the pandemic, with almost one in ten reporting they had experienced significantly more problems than usual
[IoD, 2021] - Businesses with anything between 10 and 50 employees have an average of eight invoices outstanding, racking up £13,000 being owed on average
[Tide, 2020] - Eight in 10 UK companies said that improving credit risk management is a strategic priority for the year
[Intrum, 2022] - SMEs in the capital having an average of seven invoices outstanding, spending over two hours a day chasing
[Tide, 2022] - 83% (of business owners) say they regularly work outside of ‘normal’ office hours, with more than half (55%) working weekends and 2 in 5 working on bank holidays (40%)
[Tide, 2020]
Not ready to get in touch but want to find out more?
If you're not quite sure whether or not we can help, or just want to find out a bit more, feel free to have a look around our site and get to know us a bit better.
