Credit Control - Improve your Cashflow
The importance of effective credit control
Credit agreements and payment terms are very important. However, without proper credit control or debt management, it’s likely that most companies will experience late payment, with the result being cashflow problems.
Improving cashflow, getting debts paid and being able to recognise when a client may be in financial difficulty are key to ensuring you get paid on time, and in some cases, may be the difference from being paid at all. Late paying clients can affect all parts of your business: from paying staff, to buying resources, to marketing and growing your business.
If you have a credit control department but you are still receiving late payments, then this may be a sign that your existing processes need to be tightened. It may be that your credit limits are set too high or payment terms too lax, or simply a case that you have the wrong client contact.
If your credit is becoming bad debt far too regular, then you may need to outsource your credit control and debt recovery services to Collection House where our professionally trained staff can make a real difference to your cashflow. Contact us today on 01225 762044 where we can discuss your requirements and our services.
