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What's New At Credit Matters?

What's New At Credit Matters?

Unfortunately, due to lack of time, I was unable to complete a new feature for the Member's area. All things being equal, this new feature should be ready in May.

There are always advertising opportunities for those businesses working in the B2B financial risk management area. We are always focused on helping people become better business people by providing information on business risks. If you are interested in advertising, please contact Kim on or via telephone for a no obligation discussion on possibilities.

This month we are featuring brochures from the Small Business Ombudsman advising they wish to hear from SME's believe they have been unfairly dealt with by the ATO, RSM and their calendar of CFE Exam Review Courses, CreditorWatch's new Bankruptcy Plus product.

Quote Of The Month

Quote Of The Month

As with almost any problem, the best way to stop debt collection problems is before they start. The second-best solution is to identify a problem early.

Dean Kaplan

Monthly Business Observation

Monthly Business Observation

Problems are the bane of every business. Even those businesses which are run to the best of operating standards have problems. Unfortunately, many business people respond badly to managing problems, because they seem to ignore the possibility of any problems when they first create their business. As a consequence, many problems which may have been avoided with proper planning occur and are unnecessary. As well all know, problems are always a costly drain on resources and profits.

Problems inevitably beget more problems when business people fail to recognise problems may occur. As a result, when they do occur, the focus is on fixing them. The thought of being proactive in stopping problems reoccurring is probably not considered. This leads to a situation where problems may not be dealt with promptly, which in turn, creates another set of problems. 

It is also not unusual to find that business people often fail to spend time learning why their problems exist or how to stop them reoccurring. Mostly we find these factors exist in a business with a "lean and mean operating philosophy", or in start-ups, or where management has become lazy or arrogant in the belief their systems are infallible. 

From another perspective altogether, many business people fail to realise that problems can be the indicator which shows their operating processes and systems are not working properly. Problems can be likened to the canary in the coal mine that dangers exist.

Those business people which understand problems will always exist, first try to deal with them in a timely manner to satisfy their customers' needs and to encourage prompt payment of any outstanding invoices. Concurrently, the wise business person will also try to find the causes of problems in order to stop those problems which need not occur, happening again. It is this factor, which helps saves the business many dollars, because at the end of the day, problems do not add one dollar of profit to the business.

Problems will always exist in a business environment and cost money. If you can eliminate a known type of problem reoccurring, that is equal to money in the bank. To achieve this result, you take a realistic and proactive view of problems. One such view is to act promptly and resolve the problem to mitigate any negative costs. The second, is to take the view that the problem is an indicator that your business is not operating properly or efficiently. 

Monthly Business Conundrum

When a supplier issues a properly authorised invoice, which party, the customer or the supplier, is responsible for ensuring the invoice is paid?

In today's modern business environment, the customer often requires the supplier to process their invoices via a technology-based billing system.  In a number of situations, the customer's billing, processing and support systems are so poor, the supplier is unable to correctly process their invoice. In addition, particularly for many larger corporate businesses, there is also often no advertised telephone number available for the supplier to access to resolve any difficulties. 

In these situations, which party is ethically and legally bound to ensure any unpaid invoices are paid? Is it the supplier who must try and find a way to make the customer aware that the invoice remains unpaid within terms? Alternatively, is the customer which created an inefficient billing, processing and support system that inhibits the supplier from successfully processing their invoice in an efficient manner responsible?

Monthly Business Conundrum
This Month's Business Inconvenient Truth

This Month's Business Inconvenient Truth

Not every employee in your business is called a "salesperson." However, every employee in your business is a salesperson.

We see the effects of a lack of understanding of this fact when you study the business's bad debts, slow payments, credit claims, fraud, lost profitability and reputational damage. These losses can be mitigated with improved organisational acceptance of the role all employees have in helping create profitable sales. Just because the other employees are not called salespeople is irrelevant. 

One advantage your business gains over your competitors, and a point of difference, is to ensure that every employee understands their role in the sales process. When this strategy is implemented successfully, it helps towards creating new sales, reduces customer enquiries for incorrect supply and other problems, increases cashflow and can be used to market your business advertising.

It is those businesses which understand every employee is also in sales, which helps to create the most profitable organisation. In turn, the information can be used as a positive marketing tool for the business via social media and word of mouth advertising. 

Word Of The Month

Is the spelling in-store, in store, or instore?


You can’t miss the word in-store being used in the retail industry. The word appears on shop windows, in catalogues and online. All three spelling variations are used when the retailer is talking about getting products in the store or shop.


You really can’t blame retailers for the inconsistent spelling. Microsoft Word has instore as a valid spelling, the Macquarie Dictionary lists instore and the Oxford Dictionary lists in-store. Those using in store are using a wrong spelling for this usage and that’s many retailers.


If you prefer the Oxford Dictionary as your spelling guide, you’ll use in-store and if you prefer the Macquarie Dictionary, you’ll use instore. It’s hard to say which is right. however, if you’re more conservative the spelling in-store is most likely the spelling to use. Because the spelling instore is a valid spelling in Microsoft Word (which may perhaps be an error), it is easy to see the Macquarie Dictionary, which is generally less conservative, may find an increased usage of instore, due to Microsoft’s Word being the leading document writing software used by businesses.


Which spelling you use is your choice. If you want guidance on which word to use, perhaps use the spelling in-store. This is the spelling indicated in the online Oxford Dictionary for British spelling and the Merriam Webster for US spelling. Because both the US and UK references agree on the spelling in-store, this further supports instore, may be an error in Microsoft software. A check of Australian sites online for Australian usage, indicates the main spelling is in-store.

Word Of The Month


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Credit Matters is a financial risk management resource centre for the Australian business community. If you are in business, Credit Matters is your ideal source of financial risk management solutions.

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Future Opportunities & Possibilities

Credit Matters is continuing to grow and provide marketing and knowledge about financial risks to the Australia business community.

Futhermore, we invite marketing and knowledge ideas from our readers and contributors on how we can assist our respective firms grow. If you have any ideas, please contact me at

If you are interested in finding new ways to reach your marketplace, why not try Credit Matters. Our prices for advertising are very reasonable and advertising packages are on offer to make any cost, even more affordable. So if you are interested in reaching your customers at the right price, please contact Kim at for options.