Edward River Council – Paying small businesses faster
Background
Before joining SBFC, businesses in Edward River could be waiting up to 60 days for payment, leading to significantly reduced cash flow.
Implementation
Council worked with businesses to ensure all relevant information was provided clearly and their invoices were sent to council immediately after the service or goods had been provided.
Outcomes and results
The Council’s new payment cycle has now been in place for almost eighteen months and Council has achieved a 95% success rate in paying businesses within 14 days.
Council’s aim is to achieve a 100% success rate in paying businesses within 14 days.
Anthony Smith, owner of local signage company, VisAttak, says the policy has significantly improved his business’ cash flow and operations.
“Since Edward River Council has adopted a payment policy of 14 days, we can confidently supply them with our range of signage products and services of any volume. We are also now inclined to fast track their jobs as they are now considered a ‘premium’ client on our payments scale.”
Council Details
Population size: 8,851
LGA size: 8,881 km2
State Electorate: Murray
Federal Electorate: Farrer