A Debtors' Manual Will Help With Reduction Of Debtors' Days Outstanding
Issue 002
Australia earned a very dubious title a couple of months ago that Australia has the worst debtors' days outstanding in the world. Not a very attractive title to win. I'd rather win the world cup! But we have won the dubious title of having the highest debtors' days outstanding in over 80 countries.
The Australian government's Small Business Family Business Ombudsman, Kate Carnell has described this as the "silent killer of modern business".
She has indicated that she is going to talk to government departments and big businesses about improving their debtors' payments. However, I believe there is another contributing factor to this problem and that is unfortunately, many small/medium enterprises do not have effective debtors' systems in operation. This has occurred because many of you were not able to get appropriate advice at the time when you started business and you didn't know the intricacies of what's involved in appropriate debtors' management. (SME Debtors' System Manual Package)
