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Posts Tagged Finance and operations

5 key factors to get right to have a successful business

Service Performance Insight* produced the white paper – ‘Introducing the 2016 Best-of-the-Best Professional Services Organizations’ in April 2016 In it they say there are five key factors that determine the success of the best organisations: – Leadership – Client relationships – Human Capital Alignment (posh word for HR) – Service execution – Finance and operations So, what was it about the top rated companies that made them the best? The best companies showed the following attributes for each factor: 1. Leadership – They have a clear and compelling vision which was communicated. They demonstrate transparency and clear communication with all […]

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How to minimise the risk of late invoice payment or why won’t those pesky clients pay their invoices?

As a small business, there is always a risk our invoices won’t be paid on time. We all curse the big corporates who insist on 90 day terms or who screw our prices to the floor or stop payment because a ‘t’ wasn’t crossed. But the smaller companies can be just as bad for different reasons. Excuses I have heard for not paying: ‘I didn’t think it was important – it wasn’t that much’ ‘My son was in hospital/other variations on illness’ ‘I can’t afford to pay you until my customers pay me’ ‘I’m changing banks at the moment’ ‘The […]

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