Late payments to SMEs from debtors is painful, but there are ways to avoid it, advises KeshMahinder Singh, President and CEO of Kollect Systems Sdn Bhd
It is not breaking news that the entrenched culture of late payments is badly affecting Malaysian SMEs. The decades old practice of paying late has caused SMEs to face cash-flow problems.
The psychology of it, KeshMahinder Singh concludes, is that it is the factor of ‘Mind share leading to Wallet Share’.
When asked to elaborate further on the matter, KeshMahinder, who is the President and CEO of Kollect Systems Sdn Bhd said, “It’s a universal fact that the person who makes the most noise repeatedly gets the attention.