Geekzone: technology news, blogs, forums
Guest
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.


View this topic in a long page with up to 500 replies per page Create new topic
1 | 2 
Fully Operational
3343 posts

Uber Geek
+1 received by user: 1088

Trusted
Vocus
Subscriber

  Reply # 1418663 2-Nov-2015 11:35
Send private message

This is an awful practise by large corporations to effectively leverage their suppliers as financiers.  You can bet none of them offer the same terms to their customers.  As it seems to be becoming more common, maybe there should be laws put in place to prevent this?  Or as a supplier to one of these corporations, you could jack your prices accordingly to cover the cost of finance...

2915 posts

Uber Geek
+1 received by user: 414

Trusted
Subscriber

  Reply # 1418950 2-Nov-2015 16:16
One person supports this post
Send private message

ubergeeknz: This is an awful practise by large corporations to effectively leverage their suppliers as financiers.  You can bet none of them offer the same terms to their customers.  As it seems to be becoming more common, maybe there should be laws put in place to prevent this?  Or as a supplier to one of these corporations, you could jack your prices accordingly to cover the cost of finance...


I wouldn't imagine they'll pass laws against this. The government is the worst of the worst in this respect - even massive corporates can't get them to pay on time! I remember when I worked for a government entity seeing one of their Telecom bills - $330,000 for the month, $450,000 for the previous month, and an $8 late fee. Always thought it was a bit comical tacking that drop in the bucket on top of it.

 
 
 
 


Fully Operational
3343 posts

Uber Geek
+1 received by user: 1088

Trusted
Vocus
Subscriber

  Reply # 1418967 2-Nov-2015 16:24
Send private message

Kyanar: $330,000 for the month, $450,000 for the previous month, and an $8 late fee. Always thought it was a bit comical tacking that drop in the bucket on top of it.


That's a shocker actually :/ the Govt have no good reason to not pay on time...

596 posts

Ultimate Geek
+1 received by user: 25


  Reply # 1421975 5-Nov-2015 20:50
Send private message

sen8or: Using your creditors as a bank, cheapest form of business finance there is. So long as creditors accept stretched payment terms and don't cut off supply, take as long as you can to pay them.


I refuse to do business with new clients who do this, trying to stretch things out as long as they can, if their terms are anything more than 20th of the month following I politely tell them we are unable to accept their terms and the reasons why.  If its an existing customer who decides to change their terms or is just plain slack at paying their accounts on time I simply cut off supply.  If I continue to have issues with a particular client letting their accounts fall past the due date continuously, I then politely tell them that payment up front will be required on the next dealing, and present them with a mobile eftpos machine.

I deal with a few large corporates, most of them I don't have a problem with regarding their terms, some of them even do payment runs every couple weeks after receiving accounts, these businesses i've found tend to be the better run ones who are not in financial trouble or running at a loss and I don't hesitate in giving them credit once a business relationship has been built.

1 | 2 
View this topic in a long page with up to 500 replies per page Create new topic



Twitter »

Follow us to receive Twitter updates when new discussions are posted in our forums:



Follow us to receive Twitter updates when news items and blogs are posted in our frontpage:



Follow us to receive Twitter updates when tech item prices are listed in our price comparison site:





News »

Netatmo launches smart home products in New Zealand
Posted 20-Nov-2017 20:06


Huawei Mate 10: Punchy, long battery life, artificial intelligence
Posted 20-Nov-2017 16:30


Propel launch Disney Star Wars Laser Battle Drones
Posted 19-Nov-2017 21:26


UFB killer app: Speed
Posted 17-Nov-2017 17:01


The case for RSS — MacSparky
Posted 13-Nov-2017 14:35


WordPress and Indieweb: Take control of your online presence — 6:30 GridAKL Nov 30
Posted 11-Nov-2017 13:43


Chorus reveals technology upgrade for schools, students
Posted 10-Nov-2017 10:28


Vodafone says Internet of Things (IoT) crucial for digital transformation
Posted 10-Nov-2017 10:06


Police and Facebook launch AMBER Alerts system in NZ
Posted 9-Nov-2017 10:49


Amazon debuts Fire TV Stick Basic Edition in over 100 new countries
Posted 8-Nov-2017 05:34


Vodafone VoIP transition to start this month
Posted 7-Nov-2017 12:33


Spark enhances IoT network capability
Posted 7-Nov-2017 11:33


Vocus NZ sale and broadband competition
Posted 6-Nov-2017 14:36


Hawaiki reaches key milestone in landmark deep-sea fibre project
Posted 4-Nov-2017 13:53


Countdown launches new proximity online shopping app
Posted 4-Nov-2017 13:50



Geekzone Live »

Try automatic live updates from Geekzone directly in your browser, without refreshing the page, with Geekzone Live now.



Are you subscribed to our RSS feed? You can download the latest headlines and summaries from our stories directly to your computer or smartphone by using a feed reader.

Alternatively, you can receive a daily email with Geekzone updates.