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The dreaded disputed invoice can cause havoc within any business when trying to find resolution without the correct procedures in place to deal with it effectively. How well you handle a dispute can have significant impact on your customer relationship further down the line; when genuine disputes occur, your customer will want to be treated […]
Collection letters can be an extremely useful tool to collect payment, as they tend to carry more weight than emails alone. The key to a successful outcome is in writing effective collection letters that make your customers take notice. The tricks for effective collection letters: Letters should be incorporated into structured collections strategy You will […]
I have been told by businesses countless times that their customers are paying late despite the fact they are chased at the same time each month. I ask these businesses each time, if your current collection procedure isn’t working, why are you still using it? Late payments are still an enormous burden on UK businesses, […]
CMG UK have a strong background in construction and many of our clients work in this sector. We often find they have issues getting paid so we have put together a new course designed specifically at this sector. “How to get paid in construction“ Many of our clients are classed as a subcontractor by their […]
Government initiative to remove retention payments The UK Government is proposing one of the most significant structural reforms to construction payment practices in decades: the potential ban (or major overhaul) of retention payments. What the government is proposing At the centre of the reform is a plan to make it unlawful to withhold retention payments […]
Throughout my years in commercial credit management, I have identified several mistakes that companies make within their order to cash process; mistakes that are often very small and easily fixed; make enough of them, however, and you could find your cash flow isn’t flowing the way you would like it to. Mistakes in Commercial Credit […]
At CMG UK, we’ve spent more than 25 years helping businesses get paid on time, reduce bad debt risk, and strengthen their entire credit management process. We work with companies of all sizes from sole traders to large national organisations across sectors including construction, manufacturing, utilities, legal, recruitment, and more. What We Do Commercial Credit […]
Managing business cash flow effectively is essential to the survival of any business, many things will count towards positive cash flow, here I will be focusing on the credit management aspect of managing cash flow. Credit check prospective customers A prospective customer may appear to be an attractive business prospect during your initial talks, however […]
If your company is investing money into sending you on a training course to improve your knowledge and skills for the benefit of your role, then choosing the right course, that will provide you with the correct knowledge and procedures, is vital. For credit control courses in particular, ensuring that relevant topics are covered is […]
Improving Collection PerformanceWe can improve your company’s cash flow by training delegates on collection strategy and techniques on how to negotiate payment effectively. How to use the Small Claims Courts to get PaidThe small claims court training course will cover the process and procedures of taking legal action to get outstanding debts paid. We cover pre–action protocols, issuing […]