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60% of companies believe that the administrative inefficiency of their clients harms them

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Spanish companies believe that the internal mismanagement of their customers is affecting their ability to pay, according to Intrum’s European Payment Report. Whether due to poor administration, or the current economic context, marked by inflation and rising rates, 64% of Spanish companies are more concerned than ever due to the payment capacity of its debtors.

Although economic uncertainty is a fundamental factor that inevitably affects the financial situation of companies and, consequently, their ability to pay, the most important element to prevent non-payments in the business network is that companies apply internally a effective payment management strategy. In this way, it will be possible control, plan and validate correctly the capital of the company destined to pay the outstanding invoices with suppliers, assuming and complying with the conditions -terms, quantities, etc.- that these establish. However, despite its importance, the planning, control and monitoring of this type of game is still not what it should be.

According to the report, for 60% of Spanish companies, administrative inefficiency It is, right now, one of the great challenges that are having an impact on the payment capacity of its customers.

In fact, among the 29 European countries analyzed by the leading credit and asset management services firm, Spain would be four percentage points above the European average (56%) and among the first five markets that most think that this problem is one of the most preventing their customers from keeping payments up to date.

With a percentage similar to that of Spanish organizations is the United Kingdom (also with 60%) and, below, countries such as France (56%), Portugal (55%), Italy (54%) or Germany (53%). For their part, the Netherlands (65%), Latvia (63%) and Estonia (61%) would be the three markets that most coincide in this perception. However, Denmark (49%), Bosnia (47%) and the Czech Republic (45%) are the regions whose companies least see administrative inefficiency between clients as a challenge for non-payments.

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These figures show that the effective payment management it is one of the main requirements to maintain a healthy cash flow and prevent defaults, but also that it is a complex process that not all companies are capable of undertaking. Above all, when the business grows, and with it, in level of activity and expenses.

In order to facilitate this process and offer some solutions, Intrum experts offer the following tips to apply a correct payment management strategy:

  • Consider payments as part of financial planning. In this way, it will be possible to anticipate each commitment in advance and make the best strategic decisions (for example, when establishing collection periods with clients, automating some periodic expenses…).
  • Keep the invoices in order and contemplate each expected expense. It is important that, in order to avoid incurring defaults, a calendar is available with all the payment dates, highlighting those that have priority. Those periodic items that represent a future financial commitment and that are often overlooked should also be taken into account.
  • Constant comunication. If it is not possible to meet the payment dates, it is necessary to notify the provider and try to renegotiate or restructure the outstanding debt. They are a basic pillar for business success and the true allies of the business, therefore, it is necessary to maintain a good relationship with them. In this sense, having a company specialized in debt management can be a differential factor.
  • Study the providers. It is necessary to take into account the collection conditions offered by each one (if you request payment in advance, required collection terms, discounts for wholesale purchases or prompt payment…), and choose the one that best suits your business interests.

Customer defaults, the main concern for 2 out of 3 companies

Whether due to poor management or the current economic context, companies are witnessing how defaults are increasing. According to Intrum’s European Payment Report, 64% of Spanish entities are more concerned than ever about their debtors’ ability to pay, two points above the European average (62%).

Figures that, predictably, will grow in the coming monthssince the study carried out by the credit and asset management services firm also indicates that 57% of the companies anticipate that the risk of non-payment or delay in the payment of invoices of these debtors will grow in the coming months.

These data would be in line with the official information of the sector. According to the latest ‘Financial Stability Report’ from the Bank of Spain, the sharp economic slowdown that is anticipated for the coming quarters could have a negative impact on the economic and financial situation of companies, especially if the risk scenarios for economic growth materialize.

Therefore, if a preventive position is not acquired, guaranteeing an administration and process management that ensures the correct payment to suppliers, the consequences will not only affect the affected companies, but also in society in general, due to the harmful domino effect throughout the the supply chain, employability and the growth of the business network.

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The best contents of the week in MuyPymes

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We end one more Sunday with a new summary of the best content that we have published in MuyPymes, a classic where you will find the most important news of the week and you can catch up with just a few clicks. As always, we wish you a good Monday.

  • Where can I use the newborn, euro digital?
  • The State plans to increase spending on technology by 12% this year.
  • Online sales will increase in Spain by 20%.
  • Seven out of 10 ICT companies will increase their workforce in Spain.
  • These are the growth prospects for the label market in 2023.
  • Sony updates its camera catalog with the new 4K PTZ.
  • Apple will release a new iPad Mini later this year.
  • Epson expands its catalog of projectors with new 3LCD 4KE models.
  • Apple is working on a flexible iPad, and it could arrive next year.
  • Flexible remuneration, that great unknown.
  • These are the trends that will mark 2023 in the organization of events.
  • Titbit raises 150,000 euros in its second investment round.
  • Getac introduces the S410 laptop and F110 tablet, two ruggedized and powerful 5G-enabled computers.
  • Epson presents its new EB series video projectors.
  • How to choose hosting and domain for my website.
  • Brother expands its catalog of two-inch ticket and label printers.
  • Samsung presents the new Galaxy Book3.
  • What can we expect about cybersecurity, in the coming months.
  • Artificial Intelligence: how will it affect jobs?
  • Microsoft is starting to show full-screen Microsoft 365 ads.
  • Do you want to help children in vulnerable situations?
  • Microsoft Teams is integrated into the Elgato Stream Deck.

The entry The best content of the week in MuyPymes is original from MuyPymes

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Barcelona offers 200,000 euros to the project that reduces the accident rate of motorcycles

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Barcelona City Council has launched a challenge for companies, startups, universities and innovation centers to present urban solutions that have as objective reduce motorcycle-related accidents. The chosen projects, which will be applied in the city, are part of the Barcelona Innova Lab Mobility initiative that promotes pilot tests to improve mobility.

Barcelona is one of the European cities with a greater presence of motorcycles and mopeds which represent 33% of the total census of vehicles, and motorcycle drivers account for 86% of the seriously injured, according to the balance of road accidents for the first half of 2022. With the aim of reducing accidents and increasing road safety in the city, these entities have launched this initiative to find and apply innovative solutions on the streets of the city, with the collaboration of the Tomorrow.Mobility show organized by Fira and the EIT Urban Mobility (European Union initiative).

The challenge, launched internationally, counts with an economic endowment of 200,000 euros, which will correspond to a maximum of 80% of the total amount of the winning solutions. The projects can be aimed at resolving the accident rate from behavioral innovation, that is, with solutions related to driving habits, and from technological innovation.

The execution time of the selected proposals is 18 months, of which the pilot phase must be a minimum of six. The proposals must be applicable in a real environment in the short term and must define, in this sense, its deployment space. In addition, it must achieve quantifiable results in relation to the safety of motorcyclists and third parties, which are lasting over time. Its innovative and differential component will also be valued both in the methodologies and resources used and in its execution.

This call is aimed at companies, startups, universities, research centers, technology centers, associations and foundations that have until next March 1 to present their projects. A committee of experts will assess the technical quality of the works presented and will choose the winning solutions that could be applied in Barcelona during that same year. The projects will have international projection with their participation in the next edition of Tomorrow.Mobility, which will be held next November together with the Smart City Expo World Congress at Fira de Barcelona.

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Microsoft Teams integrates into Elgato Stream Deck

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The Elgato Stream Deck is a very interesting peripheral that we had the opportunity to analyze at the time, and that allows you to create different shortcuts and functions that will be associated to each of the available buttons. It allows you to create different usage profiles, and we can switch between them in a very simple way.

For example, we can assign to a button that directly opens a web page, to run a specific application, to perform a specific action and we can also set specific commands and download completely free applications. It is a very interesting solution, especially for professionals who are dedicated to content creation and streaming.

The point is that the Redmond giant has released an official plugin that allows you to integrate an Elgato Stream Deck device with Microsoft Teams. This plugin was announced by the American company earlier this week, but it was officially launched yesterday. The installation process is quite simple, but we can find more information in the official Microsoft forums.

Once installed, we can use the Elgato Stream Deck to access shortcuts and specific functions that will improve our user experience with Microsoft Teams. Thus, for example, we can blur the background in a video call by pressing a button, and we can also assign other specific functions such as raising and lowering our hand, muting ourselves, recording, and even to show live reactions during meetings.

This new plugin enhances the value of the Elgato Stream Deck, making it a very interesting solution for those who work remotely and have to participate in frequent video calls and events. Obviously it is still an excellent option for content creators and streaming professionals as well. I remind you that it is available in different versions, and that the standard MK.2 model with 15 buttons is priced at €149.99.

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