CREDIT CONTROL
However good you are at running your business, you won’t succeed if you don’t get paid.
Preventing your debts from becoming very overdue is why we recommend pro-active management of your accounts receivables. We can issue statements to your customers every month and contact them politely on your behalf. Our professional persistence will train your customers to pay on time in the future. We treat your customers in the same way you would treat them yourself.
Credit control is the process of monitoring and managing a company’s accounts receivable – that is, the invoices it has issued to customers but hasn’t yet been paid for. By closely monitoring these accounts and taking action when payments are late or delinquent, businesses can improve their cash flow and avoid financial problems.
5 Point Credit Control Checklist
Clearly defined payment terms on all your invoices
1.
Setting credit limits and potentially running credit checks on your customers
2.
Encourage early payment and consider offering early settlement incentives
3.
Maintain good relations and regular contact with your customers/clients so you’re more likely to be made aware of any potential difficulties they may be facing.
4.
Make it easy to get paid by using your software’s payment options
5.
What we do to chase your debts
1. We send out monthly statements until the debt is paid
MONTHLY
30 - 60 DAYS
2. Followed by friendly weekly reminders for up to 60 days. We can set up templates to ensure we say it your way.
3. You decide when it’s time for to make that call. We will speak on your behalf in a polite and friendly manner. We are not here to scare your customers/ clients away.
60 + DAYS