A WEBSITE is offering advice to businesses affected by late-paying customers.
The site - www.payontime.co.uk - explains how firms can use a factoring company to free-up working capital and reduce the amount of time spent chasing debts.
David Marsden, from the Better Payment Practice Group, which runs the site, said: "In addition to improving cash flow, the use of a factoring company means the business is able to cut down on the amount of time it spends chasing outstanding debts, allowing it to concentrate instead on generating new customers. At the same time, the business is also benefiting from professional sales ledger management, which helps get invoices paid more quickly."
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