Business Finances

Poor cash flow management has been the downfall of many businesses so it can’t be left to chance. A regular supply of cash is vital to any organisation, so that it can pay salaries and bills, as well as invest in growth. This is why cash flow management is essential in order to have a thorough understanding of where your money is coming from and to project future revenue to secure company growth.

Business fraud is a huge problem in South Africa, but it’s not just a local issue: credit fraud is a rising problem worldwide that has been accelerated with digitalization and remote working. Paul’s story is based on identity theft, which is the most common type of business fraud in trade credit. But fraudsters can adopt a number of tactics. The good news is, whichever method they use, there are a number of common red flags that should alert a company’s credit department to a problem. 

The dynamic between a company’s sales force and its credit department often resembles that of rival teams, with one blocking the progress of the other. But, ideally, they should operate like the offense and defense of the same side: one fending off the biggest obstacles on the field, to let the other gain enough ground to score. The team wins when a profitable new customer relationship has been established.