Hello, my name is Hugh Gage and I’m the founder of the Prompt Payment Directory.
I’ve experienced late payment and I know how gut wrenching it can be.
I set up The Prompt Payment Directory as a ratings platform that delivers vital context relating to payment practices across the U.K. business community.
I don’t believe that the late payment issue between businesses is a one-way street. I think that responsibility for the payment of invoices rests with both supplier and customer.
Suppliers must do all they can to ensure they know who they are going into business with and due diligence is a vital part of that discovery process.
They need all the right information to invoice their clients correctly, such as the preferred format of the invoice, the person to whom it should be sent or the time at which it should be sent.
In return, customers must do all they can to help their suppliers get that invoicing process right.
Large organisations typically have complex bureaucracies that only function when the guidelines are adhered to, so customers must make sure their suppliers understand how to navigate those guidelines.
Small organisations don’t always have a permanent finance department so they need to help their suppliers make sure that invoices are submitted to the correct person at the correct time.
I have used the directory myself rating customers both positively and negatively. I have done business with customers that have been great to work with but not so good when it came to settling the bill.
There are nearly 5 million self employed people in this country and nearly 6 million companies of which more than 99% are SMEs or micro businesses. My aim is for all these people to do their work, grow their businesses and reach their goals whilst also being paid on time.
Thanks for taking the time to read this and thanks for visiting The Prompt Payment Directory.