Cash is the king. It’s always true, but these days it’s true more than ever. When cash is in scarce the one having it is the one winning the competition. Luckily PGS Software is safe. We have enough cash to go through the crisis. But recently we had to make an accrual for old receivables. That ate a big chunk of our profits. What makes me really mad is that some of that comes from lack of integrity of some clients. Just because they are in a different country they feel like they are safe not paying us. Everybody may have problems, and we have been very lucky finding partners who helped us when we needed and who got help from us when we could help them. That is great. But like always in life: 80% of you clients are great, but the other 20% make you sleepless. Yes – contracts help. And we will use them in the court, but I want to focus on growing the company not on going to the court.I hate that part of my job.

Outsourcing is all about trust. Typically it’s about trust the customer has in vendor. These days it goes in the other direction as well. Will they pay or go away hoping that you won’t find them? Luckily most of our clients are great businesses with integrity and personal values you can always rely on.

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