Learn more about the people behind the projects...
Name: Terry Morrell
Institution: Edinburgh University (part time)
Website: my website - www.theshortconsultant.com
Social: my blog - http://www.theshortconsultant.com/blog.html
The project: Late Payments, Crisis or Opportunity: http://www.eulergy.com/projects/view/late-payments-crisis-or-opportunity/13/
In a nutshell: Late payment has become an intractable issue that frustrates businesses worldwide. The culture around invoice payment remains toxic and stubborn to change, despite various voluntary initiatives and legislation. This research aims to take an alternative look at the issue in terms of viewing invoices as a source of new and unique value to organisations either side of the commercial relationship.
1. What is the key challenge you are addressing in this project?
Late payments cause cash flow problems and inflict damage on commercial relationships. This research seeks a way through this chronic situation.
2. Why are you interested in exploring it?
I have worked around this issue professionally, felt personal pain, listened to/observed strong viable businesses struggle under the pressure of this late payments culture.
3. What is the value of the project to research?
The opportunity to open up a neglected and undervalued aspect of business interaction. This research considers the processes around invoicing and payments contains untapped value which is obscured by the abuse of late payments.
4. And what is its value to industry?
The impact on the cash flow of businesses worldwide could have many positive effects from timely reliable payments combined with using the opportunity for both parties to learn more about each other. The benefits would be felt across all business sizes and sectors.
5. What sorts of organisations are you looking to work with?
Organisations with a desire to contribute to a better future in this area. Organisations who create and receive many invoices would be helpful to consider scaling issues around potential solutions and future research.
6. What industry areas would benefit most from this project and why?
Organisations that need to remain relevant to survive and grow. Organisations that need to innovate and deliver value to customers, yet face the frustrating realities of speed and cost of change.
7. What specific skills can you bring to a prospective organisation?
Extensive business and systems consultancy experience across the UK/European financial services industry including mission critical processes and systems.
8. Will the project be feeding into a specific assignment or thesis?
Yes, I am aiming to complete a DBA as part of this research.