Bigger companies are now taking longer to pay creditors.
"Since the introduction of the General Sales Tax (GST), corporate Australia has renewed its focus on the importance of good debt management in order to maximise available cash flow," Craig Winkler, chief executive of MYOB, the business management software company, said.
"However, while small- and medium-sized enterprises (SMEs) have come to the party and are now paying their invoices faster than at any time in the past four years, it would seem many larger companies are still dragging their feet. MYOB has recognised this and is working with D&B to help level the playing field."
Debt collection and business information specialist D&B has teamed with MYOB to roll out online account management tools to help SMEs improve their cash flow.
Craig Winkler said the partnership would give small businesses the same tools that the big end of town used to rein in bad accounts and stay liquid.
