Minimise Debt, Maximise Cash with Top Service

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Minimise Debt, Maximise Cash with Top Service is the must-listen podcast for credit management professionals in the construction industry. Hosted by Emma Reilly, the 2025 Credit Professional of the Year, this show dives deep into the real-world challenges of credit control and cash flow in construction — where margins are tight, timelines are critical, and debt can derail progress fast. Subscribe now and take the guesswork out of credit management — it’s time to minimise debt and maximise cash with confidence.

  1. 2d ago

    November 2026 Construction Credit Update - Market Realities, Legal Shifts & Protecting Cash Flow

    Emma Reilly shares practical insights directly from recent credit manager forums, exploring the contrast between high-level reports and what is happening on the ground across the UK construction sector. From flatlined new business and rising mid-tier debt to upcoming legislative overhauls and the hidden risks of credit card merchant fees, this episode provides credit teams with the intelligence needed to safeguard margins and keep cash flowing. 00:00 – Introduction Emma Riley introduces the episode and sets the stage for examining the real day-to-day state of construction credit management. 00:46 – Market Reality & Payment Trends Why account openings are stalling into dormancy, how major infrastructure (HS2) contrasts with a slowing housing sector, and the dangers of creeping £10k–£50k mid-tier balances. 02:00 – The Legal & Political Radar Upcoming reforms under the Commercial Payments Bill (60-day terms cap, retention bans, mandatory 8% interest) and expanded Small Business Commissioner enforcement powers. 02:50 – The Credit Manager’s Balancing Act Navigating conflicting boardroom demands: rapid customer sign-ups vs. keeping DSO low and card fees down. 03:22 – The "Terms vs. Limit" Trap Why extending payment terms from 30 to 60 days inadvertently forces suppliers to double their risk exposure on cash-strapped debtors. 04:12 – Emerging Operational Risks The dangers of instant onboarding without real-time checks, plus the margin-eroding impact of customers using credit cards for large invoices. 04:54 – 4 Actionable Strategies for Q4 Practical guidance on monitoring limits, implementing merchant fee caps, utilizing live trade data over outdated filings, and unpicking disputed balances. 06:06 – Closing & Special Offer How to access Top Service trading data and details on getting involved with future episodes. Watch the Accumulation: Insolvencies make headlines, but multiple unpaid debts in the £10,000–£50,000 range can silently drain working capital just as quickly. Look Past the Calendar: If a buyer requests an extension from 30 to 60 days, evaluate whether you can afford to double their credit limit when their ability to pay is already compromised. Protect Your Margins from Fees: Cash-poor debtors paying off trade balances via credit cards can cost tens of thousands in merchant fees; set clear settlement policies to prevent margin erosion. Break Down Disputed Debt: Separate uncontested amounts from retention claims and variations early to collect clear cash immediately rather than letting whole balances stall. Prioritise Live Intelligence: Filed accounts reflect where a firm was up to a year ago—current liquidity requires real-time network alerts and community trade experiences. Top Service Free Trial: Test the platform free for 48 hours with no obligation to see live trading data and credit alerts on your key accounts. Get in Touch: Connect with Emma Reilly on LinkedIn to share feedback, ask questions, or suggest topics for upcoming episodes.

  2. Oct 26

    Retentions, Payment Codes, and Emerging Trends in Payment Behaviour

    In this episode of Minimise Debt, Maximise Cash, host Emma Reilly (CEO of Top Service) introduces an extract from a joint webinar with the CICM. Moderated by Philip King (Non-Executive Director), the panel features Simon Howell (Tarmac) and Sue Chapple (Chartered Institute of Credit Management) discussing key operational issues in construction credit management. They address the ongoing challenges surrounding retentions, the real-world impact of payment initiatives (such as the Fair Payment Code), and emerging shifts in customer payment habits. Key Takeaways & Discussion Highlights The Reality of Construction Retentions: Systemic Cash Flow Impact: Simon Howell notes that retentions continue to present significant hurdles for cash flow across the supply chain, impacted by the same dispute and payment delays affecting standard invoices. Organization is Crucial: Because retention payments are protracted over long periods, credit teams must be exceptionally organised and stay proactive in tracking and collecting these funds before they stall completely. Impact of Fair Payment Initiatives & Government Codes: Positive Messaging, Process Hurdles: Sue Chapple highlights that initiatives promoting prompt and fair payment are welcome, but many late payments from larger companies stem from operational and technical process issues rather than deliberate withholding of funds. Inter-Small Business Strain: A growing concern across the industry is small-to-medium businesses delaying payments to other small businesses. Balance Sheet Fragility: Tier 2 contractors and smaller subcontractors face fragile balance sheets and lack the deep pockets needed to self-fund delayed projects, making sudden, unexpected insolvencies a continuous worry. Emerging Trends in Payment Behaviour: Micro-Delays (1–3 Days Late): Simon calls attention to a notable shift where previously reliable, prompt-paying customers have begun paying slightly late—even by just one, two, or three days. Cash & Balance Sheet Preservation: These subtle payment delays indicate that larger contractors and Tier 1 businesses are actively managing their cash reserves and balance sheets tightly, requiring credit managers to keep a close eye on accounts to prevent short delays from escalating. Webinar Announcement To sign up for the next webinar, please visit: 👉 https://www.cicm.com/cicmevents.html Connect with Us Have questions about managing retentions, credit risk, or payment trends? Reach out on LinkedIn: Emma Reilly: Search for Emma Reilly Top Service on LinkedIn. Subscribe to Minimise Debt, Maximise Cash on your favourite podcast platform so you never miss an episode!

    Retentions, Payment Codes, and Emerging Trends in Payment Behaviour

  3. Oct 19

    Handling Cash Flow Shifts, Payment Plans, and Invoice Disputes

    In this episode of Minimise Debt, Maximise Cash, host Emma Reilly (CEO of Top Service) introduces an extract from a joint webinar with the CICM. Moderated by Philip King (Non-Executive Director), the panel features Chelsea Ware (Travis Perkins) and Rosie Payne (Saint-Gobain) discussing current trends in collections. They explore whether overdue debts are rising, how credit teams manage "can't pay" versus "won't pay" scenarios, the increase in payment plan requests, and how to spot "red flag" invoice disputes. Key Takeaways & Discussion Highlights Overdue Debt Trends & Cash Flow Bottlenecks: Payment Delays on the Rise: Chelsea Ware notes that while a substantial volume of payments continues to come through, delays, payment plans, and cash flow strains are noticeably increasing across the construction supply chain. Ripple Effects on Subcontractors: Main contractors delaying payments creates a trickle-down effect on subcontractors and sole traders, leaving multiple businesses vulnerable to a single client non-payment. Unexpected Insolvencies: Alongside long-monitored accounts showing warning signs, credit teams are seeing unexpected failures driven by short-term cash flow freezes. "Can't Pay" vs. "Won't Pay" Dynamics: Shift Toward "Can't Pay": Rosie Payne points out that sluggish cash flow across the supply chain means most current delays stem from genuine financial struggles rather than simple unwillingness. Managing Payment Plans & Flexibility: With record requests for payment plans and split payments, credit teams are having to adapt, flex credit limits, and evaluate clients on a case-by-case basis to keep trade moving safely. Tactical Invoice Disputes & Red Flags: Disputes as Cash Flow Shields: Disputes often increase during tough economic periods as clients seek excuses to delay payments. Spotting Red Flags: A major red flag occurs when a client who rarely queries invoices suddenly places an entire set of overdue invoices into a Proof of Delivery (POD) query. Operational Readiness: To counter tactical delays, credit teams must ensure backend operational processes (automatic PODs, order acknowledgements) are robust, removing excuses and enabling swift payment demands. Webinar Announcement To sign up for the next webinar, please visit: 👉 https://www.cicm.com/cicmevents.html Connect with Us Have questions about managing credit risk or handling disputed debts? Reach out on LinkedIn: Emma Reilly: Search for Emma Reilly Top Service on LinkedIn. Subscribe to Minimise Debt, Maximise Cash on your favourite podcast platform so you never miss an episode!

    Handling Cash Flow Shifts, Payment Plans, and Invoice Disputes

  4. Oct 12

    How to Deal with Construction customers Insolvency

    In this episode of Minimise Debt, Maximise Cash, host Emma Reilly (CEO of Top Service) shares an extract from a joint webinar with the CICM. Moderated by Philip King (Non-Executive Director), the conversation features Simon Howell from Tarmac. Simon provides an insider's look into how construction insolvency trends are currently playing out, how credit managers can spot early warning signs, and the current state of the credit insurance market. Key Takeaways & Discussion Highlights Customer Insolvency Landscape: Navigating Ongoing Disruptions: Construction businesses have faced a sequence of major hurdles over recent years, from the aftermath of COVID-19 to energy price spikes following the Russia-Ukraine conflict. Predictable Insolvencies: Despite cash flow pressures across the sector, many recent insolvencies have not come completely "out of the blue." Instead, businesses displaying long-standing financial strains are showing visible warning signs that credit teams can spot and act upon early. Smarter Risk Spotting: Credit professionals have become increasingly adept at identifying early indicators of distress and taking proactive measures before a debt becomes unrecoverable. Credit Insurance & Market Cover Trends: Excess of Loss Policies: Tarmac utilizes an "excess of loss" insurance structure with non-cancellable limits. This approach allows them to manage a significant portion of the risk internally while securing consistent, reliable cover. Market Normalisation: Across the broader market, credit insurance availability has largely normalised rather than seeing sudden, widespread withdrawals of cover. A Competitive Market: The credit insurance sector remains highly competitive, with insurers continuing to focus on providing valued services alongside cover. Webinar Announcement To sign up for the next webinar, please visit: 👉 https://www.cicm.com/cicmevents.html Connect with Us Have questions about managing credit risk or navigating construction insolvencies? Reach out on LinkedIn: Emma Reilly: Search for Emma Reilly Top Service on LinkedIn. Subscribe to Minimise Debt, Maximise Cash on your favourite podcast platform so you never miss an episode!

    How to Deal with Construction customers Insolvency

  5. Oct 5

    Construction Credit Update with Emma Reilly - Oct 2026

    In this September update, Emma Reilly shares how Top Service members are navigating current industry challenges, recovering aged accounts, and protecting their cash flow. What's in this episode: Record Debt Recovery: Why August wasn't a slow month for Top Service members, and how clear consequences for non-payment drive results. £1M Fraud Prevention Milestone: How construction-specific trading data helped prevent nearly £1 million in direct fraud losses over the past 12 months. Team & Member Celebrations: Recognizing team achievements and new CICM accreditations. Preparing for Q4: Key steps to review your credit management strategy before heading into the final quarter. Connect with Us: LinkedIn: Search Emma Reilly Top Service to connect and share your feedback. Subscribe: Hit subscribe on Spotify or your favourite podcast platform so you never miss an update!

    Construction Credit Update with Emma Reilly - Oct 2026

  6. Sep 28

    Navigating Market Uncertainty & Economic Pressures in Construction Credit

    In this episode of Minimise Debt, Maximise Cash, host Emma Reilly (CEO of Top Service) introduces an extract from a webinar hosted jointly with the CICM. Moderated by Philip King (Non-Executive Director), the panel features Simon Howell (Tarmac), Rosie Payne (Saint-Gobain), Chelsea Ware (Travis Perkins), and Sue Chapple (Chartered Institute of Credit Management). Together, they explore the evolving market challenges facing credit managers in the construction industry, including geopolitical instability, rising energy costs, unpredictable customer cash flow, and fixed-price contract risks. Key Takeaways & Discussion Highlights Market Uncertainty & Rapidly Moving Variables: Unpredictability as the Only Certainty: Simon Howell highlights that geopolitical events and global issues are creating fast-moving impacts on energy and material inputs, making forecasting and assessing customer financial health far more difficult than in the past. Outdated Financial Data: Traditional methods, such as relying on a customer's annual set of accounts, are no longer sufficient because circumstances change much faster than reporting periods allow. Cost Pressures & Energy Surcharges: Manufacturing Cost Spikes: Rosie Payne points out that energy costs have severely impacted manufacturing processes. Passing Costs vs. Customer Pressure: To cope with rising manufacturing expenses, businesses have had to introduce energy surcharges. However, this creates a delicate balancing act to avoid over-pressuring customers who are already struggling financially. Tightening Cash Flow & Unpredictable Payments: Cash Tightening Across the Sector: Simon notes a widespread trend of delayed payments as customers seek to conserve cash in response to economic pressures. Declining Market Sentiment: Overall sentiment across key sub-sectors, such as housing and house building, remains low, increasing risks across supply chains. Fixed-Price Contracts & Retentions: Fixed-Price Contract Risks: Chelsea Ware calls attention to the resurgence of older fixed-price contracts. Subcontractors and suppliers locked into fixed rates are hit hard by unexpected price increases from suppliers, resulting in severely squeezed margins and cash flow issues. Retentions & Detail Scrutiny: Retentions continue to create financial strains long after project completion. Credit teams are having to delve into far deeper detail regarding client retention agreements than was previously necessary. Webinar Announcement To sign up for the next webinar, please visit: 👉 https://www.cicm.com/cicmevents.html Connect with Us Have questions about managing credit risk or handling market uncertainty in construction? Reach out on LinkedIn: Emma Reilly: Search for Emma Reilly Top Service on LinkedIn. Subscribe to Minimise Debt, Maximise Cash on your favourite podcast platform so you never miss an episode!

    Navigating Market Uncertainty & Economic Pressures in Construction Credit

  7. Sep 21

    Expert Tips & Final Advice on Charging Statutory Interest

    Here are the podcast episode notes based on the provided audio file: In this episode of Minimise Debt, Maximise Cash, host Emma Reilly (CEO of Top Service) shares the closing segment from a joint webinar held with the Chartered Institute of Credit Management (CICM). Moderated by Philip King (Non-Executive Director), the episode features quick, actionable advice from industry experts, including Paula Swain, Nicola Hannant, Elysia Ady, and Ivan, followed by key takeaways and a wrap-up from Emma Reilly on how to implement statutory late payment interest effectively. Expert Final Tips & Takeaways Paula Swain (Kearns Legal Services): Review Contract Terms: Regularly review and update your business’s terms and conditions to ensure late payment interest is properly integrated. Monitor Legislation: Keep a close watch on potential government updates regarding mandatory late payment charges and statutory enforcement. Nicola Hannant: Drive Internal Education: Focus on proactive education across your business so all teams—from credit to sales—understand the legal standing and application of late charges. Elysia Ady (Top Service): Make Charges Work for You: Ensure statutory late payment fees are structured and applied in a way that actively supports your business’s cash flow goals. Ivan Carvalho (CICM): Stay Connected & Skilled: Engage continuously with professional bodies like the CICM for upskilling, training, and qualifications to keep abreast of industry updates. Audience Contributor (Kerry): Don't Waive Interest Instantly: If a debtor requests that late payment interest or statutory compensation be waived, stand firm initially and attempt to collect it on behalf of your business/client rather than giving in right away. Emma Reilly's Key Wrap-Up Insights Explore "Per Invoice" Charging: Consider charging statutory compensation and interest per individual invoice rather than as a single lump sum, as this can significantly boost recovery outcomes. Consistency & Team Clarity: Maintain a consistent policy across all branches and ensure internal teams understand why and how late payment legislation is being enforced. Get Accounting Systems Ready: Align your accounts department on how incoming late payment interest and compensation are coded and documented (handling requests for separate invoices). Partner with Your Debt Collection Agency (DCA): Work closely with your DCA or legal partners. Ensure they understand your parameters, cost coverage needs, and negotiation boundaries so they can act effectively when contacting debtors. To receive the information pack on charging statutory late payment interest mentioned in the episode, please click the link on Emma's name in the player notes. Webinar Announcement & Information Pack To sign up for the next webinar, please visit: 👉 https://www.cicm.com/cicmevents.html Connect with Us Have questions about credit management or enforcing statutory interest? Reach out on LinkedIn: Emma Reilly: Search for Emma Reilly Top Service on LinkedIn. Subscribe to Minimise Debt, Maximise Cash on your favourite podcast platform so you never miss an episode!

    Expert Tips & Final Advice on Charging Statutory Interest

  8. Sep 18

    Credit Insights from Vertikal Days

    In this special extra episode of Minimise Debt, Maximise Cash, host Emma Reilly (CEO of Top Service) takes you to Vertikal Days—the UK's premier trade event for the lifting, access, and height safety industries. To explore the unique financial hurdles facing the sector, Tosin Ajayi from Toes In Video Production hit the show floor to speak directly with industry leaders. From navigating slow payers and extended payment terms to dodging corporate insolvencies, our guests share what keeps them up at night—and how insider credit intelligence keeps their businesses thriving. In This Episode, You'll Hear From: Tom Brown (Head of Construction, Bear Business Finance) on balancing debt recovery with preserving long-term client relationships. Rachel (Marketing Manager, Radius Group) on the hidden operational costs of chasing payments and handling client administrations. James Selby (Owner, Access Lincs Limited) on keeping top of extended credit terms across the access sector. April Lawrence (Finance Director, J&M Crane & Transport Ltd) on mitigating cash flow delays and utilizing member-driven credit checks for new accounts. David Porter (Finance Director, The Hireman Limited) on the value of director visibility and real-time payment behavior tracking over traditional credit reports. Jamie (AP Lifting Gear) on gaining crucial sector-specific insights to assess customer reliability before extending credit. Key Takeaways: Beyond Companies House: Standard credit reports often miss the full picture—real-time trading data and peer-to-peer intelligence are essential for spotting bad debt early. Relationship-First Recovery: Effective debt management isn't just about collecting cash; it's about resolving issues without destroying key commercial partnerships. Proactive Credit Checking: Vet new clients thoroughly using industry-specific insights to protect your cash flow from day one. Connect & Resources: Top Service: Learn how to protect your cash flow at top-service.co.uk Media Partner: Video production by Tosin Ajayi at Toes In Video Production Don't forget to subscribe, rate, and share this episode with your network!

    Credit Insights from Vertikal Days
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Minimise Debt, Maximise Cash with Top Service is the must-listen podcast for credit management professionals in the construction industry. Hosted by Emma Reilly, the 2025 Credit Professional of the Year, this show dives deep into the real-world challenges of credit control and cash flow in construction — where margins are tight, timelines are critical, and debt can derail progress fast. Subscribe now and take the guesswork out of credit management — it’s time to minimise debt and maximise cash with confidence.

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