The latest Sage Pay research has revealed that the average business is owed £11,358 in unpaid invoices which have been sent out by paper and post!
In total, small and mid-sized businesses are owed £55bn in unpaid or outstanding invoices which is stifling growth and restricting cash flow.
Now, either Britain’s small businesses are making so much money that they don’t even notice the missing amount or there’s something wrong with the current system (I suspect the latter).
One way that start-ups and small businesses can get paid faster is to adopt e-invoicing, which as the same suggests involves them sending their invoices out electronically via email, with the ability to pay the money embedded within the invoice itself.
As Europe’s fastest growing online payment gateway, Sage Pay is leading the charge against late payments and when connected to Sage One Accounts, enables business owners to send an e-invoice from within their accounting software the moment they raise an invoice.
The Sage One / Sage Pay e-invoices contain a ‘Pay Now’ button so that recipients can pay immediately using their debit card, credit card or even with their PayPal account.
Maybe we can get that £55bn figure down if more small businesses switch to using Sage One and Sage Pay?
Try e-invoicing now
If you’re an existing Sage One customer and want to try e-invoicing with Sage Pay, give their team a call on 0845 111 0797 or request a call back by using this form.
Even if you don’t want to sign up for Sage Pay, both Sage One Accounts and Sage One Accounts Extra have the ability for you to email your invoices from within the service at the time that you raise them. Sign up for a free 30 day trial here.