Late payments aren’t just an inconvenience—they’re a massive problem for small businesses. A recent survey by the Institute of Certified Bookkeepers (ICB) revealed just how damaging these late invoice payments are:
UK small businesses are owed an average of £22,000 in late payments—18% of their invoices . Chasing overdue payments takes up 56.4 million staff hours annually , costing SMEs £6.3 billion . To cover cash flow gaps, businesses spend £684 million each year on additional financing. And bookkeepers are the ones seeing the impact firsthand—supporting clients who are constantly juggling cash flow because invoices aren’t paid on time. The issue of unpaid invoices in the UK is becoming increasingly problematic for small businesses and self-employed individuals alike.
So, how do you get paid faster when your clients don’t use the same tech—or worse, when they’re the ones struggling with late payments?
Take control when your client’s tech isn’t up to scratch Firms often bear the burden of overdue invoices, manually chasing clients and reconciling payments across disconnected systems. And it’s costing businesses billions.
Adfin bridges those tech gaps, making it easy for all clients to pay on time—even the ones who ghost your emails. 👻📧
#1. Chasing late payments manually? 🏃 Chasing overdue invoices takes up time you don’t have. And as the ICB survey showed, 60% of bookkeepers say late payments have negatively impacted their business or their clients' businesses in the past year.
With Adfin, you can set up automated payment reminders via email, SMS, or WhatsApp—so your firm isn’t stuck chasing invoices that keep slipping through the cracks. These reminders to pay can significantly reduce late payment of invoices and improve cash flow.
Create custom workflows for each client to automatically chase them where they’re at.
Customise workflows for each client to automatically chase them where they’re at.
Even better, clients can make one-click payments directly from the platform where they opened the invoice—so they can deal with it then and there. This streamlined process helps prevent late payment charges and keeps your cash flow healthy.
#2. Reconciling payments from manual bank transfers 💸 Many small businesses still rely on bank transfers, adding extra admin for bookkeepers. Payments arrive late, and reconciling them takes up valuable time. This is where efficient payment reconciliation becomes crucial.
Adfin marks invoices as paid upon confirmation , even if the funds haven’t settled yet. That means no more chasing clients who’ve already paid—but forgot to tell you. This feature significantly improves payment tracking and reduces the time spent on financial admin.
#3. Helping clients without invoicing software📄 According to the ICB survey, over 80% of bookkeepers were unaware of the Fair Payment Code , a government initiative to improve payment practices. This lack of awareness can lead to issues with late invoicing rules and payment terms.
Part of the issue? Many small businesses still use Word or Excel for invoicing —which slows everything down.
With Adfin, you can:
✅ Drag and drop PDF Excel-generated invoices straight into the platform.
✅ Send branded payment requests with multiple payment options (Apple Pay, Google Pay, and more).
✅ Set up automated reminders if the invoice isn’t paid by the due date.
Because getting paid should be as simple as sending an invoice. Adfin's automated billing system ensures that invoice payments are processed efficiently, reducing the risk of late payment fees.
#4. Keep track of your direct debit (DD) mandates 🔁 Direct debit can help firms avoid late payments altogether. Some firms even require clients to set it up before working with them. However, it's important to understand what happens if you miss a direct debit payment.
Adfin makes the process seamless:
Track which clients have authorised DD mandates and who hasn’t. Set up recurring invoices and automate collections in a few clicks.
For clients who don’t opt for direct debit? They can pay however they like once they receive their invoice. This flexibility in payment methods helps maintain positive customer relationships.
How Adfin caters to clients who still rely on Word or Excel invoices Here’s an example of how Adfin simplifies payments:
A local catering business relies on Word or Excel invoices and manual bank transfers. Sounds frustrating, right? But with Adfin, it’s not a problem:
Drag and drop the client’s PDF Excel-generated invoice directly into Adfin. Send a professional, branded payment request with links for various payment options like Apple Pay, Google Pay, and more. Send scheduled, automated reminders if the invoice isn’t paid by the due date. Workflows that work for you Here’s how your automated invoice-chasing workflow could look:
Week 1: Scheduled WhatsApp payment reminder.2 days later: SMS reminder.Week 2: Another WhatsApp reminder.Customise these workflows for each client and their likelihood of paying by setting the platform and frequency to minimise the time the invoice is overdue. This approach to payment automation can significantly reduce late payment prevention and improve payment collection rates.
Nevermind the (tech) gaps because Adfin’s got your back With the ICB calling for stronger payment protections , now’s the time to take control of how your firm manages late payments. Understanding the non-payment of invoice law in the UK can help you protect your business interests.
Adfin helps you:
✔️ Automate reminders so you’re not chasing payments manually.flexible payment options to speed things up.direct debit mandates and automate collections.
Book a demo to see how Adfin works specifically for you 🚀
By implementing Adfin's payment automation solutions, you can significantly reduce late payment issues, improve cash flow, and focus on growing your business rather than chasing unpaid invoices.
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