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Direct Debit can be a great tool for collecting payment from your customers, making it easier for them and ensuring you can receive payment on time. Indemnity claims however can provide a huge risk to businesses using direct debit payments; indemnity claims occur when a customer notifies their bank that an error has been made […]
Credit Management Consultancy can be an extremely useful way to significantly improve the performance of your credit management function. This is dominantly due to the fact that consultancy can be adapted to suit the precise needs of the business, as well as the fact that there is a great dealing of funding available to eligible […]
Deciding whether to invest in a training course that covers improving collection performance and cash flow can be a difficult decision to make, you want to ensure that it will cover what you need to be covered to see a viable outcome that will benefit your business. Here we have compiled a list of pros […]
‘I have been working with Credit Management UK for over 6 months now. Having worked with other credit control companies before, and having been burnt by their murky terms of business and % agreements, finding CMGUK and agreeing clear terms of business was a breath of fresh air. CMGUK has managed to recover my outstanding […]
Using a credit hold function within your credit management strategy can be a highly effective tool of encouraging payment from your customers. Knowing how to effectively implement the credit hold procedure into your business is vital for its success; I must stress, however, that if you are going to have a credit hold function you […]
We hope this blog finds you well. If there is anything you would like to see more of in our round ups from more Credit Management Hints & Tips to help on Credit Management E-learning webinars let us know: COMMERCIAL CREDIT MANAGEMENT Late payments applying pressure to small firms UK tech incorporations increased by 62% […]
Credit management best practice will differ industry to industry and company to company, but there are certain basics to consider when evaluating how effective your credit management function is. Does your credit control team have the right skills and knowledge? Effective credit controllers need to have certain attributes that will vastly enhance the success of […]
As we adjust to the ‘New Normal’ one area that remains constant is that cash remains King! Job losses are being announced daily, the rate of business insolvencies is increasing and will continue at an exponential rate. We all do our best to ride out the predictable economic impact of the global shut down of […]
Late payment is an issue that every business that offers credit will experience; if these issues aren’t addressed with each customer it could snowball and have significant impact upon your business’ cash flow. Check your customers credit risk Credit checking your customers will provide an insight into the likelihood of a company being a late […]
Many times, when there is potential for a sale, businesses will jump at the chance for more work and forget about one of the most important factors in a business, when all of your work has been completed, will you actually get paid? Carrying out a credit check on potential customers prior to doing business […]