How Inflation is Killing Your Accounts Receivables

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It’s gone from inconvenient and frustrating to becoming a serious threat to many Nigerian and global businesses.

Inflation is at the highest rate in the last couple of years. Inflation means everything you need costs more.

For retailers, a shipping container that three years ago cost $4,000 to carry products overseas now costs $20,000 for freight alone.

What you may not have considered if you run a business is what inflation is doing—right this minute—to your accounts receivables.

‍As of this writing, the Nigerian Inflation rate has unexpectedly jumped again.

That means your receivables are decreasing in value at the same rate as if you were paying extra interest on them. Money that you billed a customer just last month will not go as far today as it did when you sent out the invoice.

With inflation aggressively shrinking the money owed to you and the cost of using lines of credit to support it going up, I believe we’ve reached a tipping point.

See this Inflation calculator to see the Future value of your Today's receivables

You simply can no longer justify subsidizing customers’ businesses by carrying overdue receivables—if you ever thought you could!

Your Accounts Receivable are being hammered, at the same time as your customers are struggling to live up to their financial commitments (including paying you), and it’s a deadly combination.

Don’t wait any longer. So at a time like this, it’s alarmingly easy to see what will happen next. Don’t regret not taking action and start automating your account receivables process using Bridger to Improve your Collection days by more than 81%.