Pressure grows for UK companies invoicing in US dollars as pound drops to 37-year low

“UK companies who invoice their customers in US dollars should be placing an even greater emphasis on their cash collection processes to ensure invoices are being paid on time.

“The unfortunate reality today for these UK companies is that any outstanding invoices originally priced in US dollars are now worth significantly less to the business than when the work or goods were first provided. This further highlights the importance of business cash flow for improved working capital, but also to ensure that late payments are not eating into a company’s potential profit margins.”

Rob Harvey, Chief Product Officer, Sidetrade