What is credit control?
Credit control is the practice of making sure your customers don’t take too long to pay you.
Too many businesses return a healthy profit but are devoid of cash and, as we all know, money makes the world go round.
All successful businesses benefit from effective credit control. Poor cash flow can quickly undermine any business.
While many business owners are fully aware of the importance of credit control, not all businesses have the requirement for, or can afford, an in-house credit controller. It may fall to existing staff to do what they can but, if it is not their area of expertise, it can be a daunting task and be less effective in achieving results. Many small businesses rely on part-time staff, perhaps only being available one day per week, to assist resolving customer queries and to “chase up the debts”.
By using our credit control services, we can help you with all areas of credit control. You can be assured that you will receive professional support, as often as it is needed. You will receive a designated telephone number, to be used by your customers to speak to “your” credit control department. After discussing your individual needs, we work out your requirements, offering a bespoke service with an effective and proactive approach to credit control. We give you firm but fair credit control with even your most difficult customers and without damaging important customer relationships because of an overdue unpaid invoice.
Invoicing – accurately and on time – is an essential element to successful credit control.
Missed errors on invoices or delays in issuing invoices can give your customers excuses for late payment. An accurate invoice, sent immediately and to the right person, puts you in a better position for credit control.
- Credit check new customers
- Assist in setting up new customer accounts
- Ensure clear business terms are noted on every invoice
- Generate statements and send direct to your customers, as if they were being sent direct from your own office
- Be consistent with credit control, adopting the “firm but fair” approach
- Instigate, and follow through, recovery proceedings against non-payers.
We discuss your requirements and, together, devise a strategy to suit your business needs.