How to Know if Credit Management Consultancy is Right for your Business
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 businesses.
Businesses may find other services are more suited to their current needs, such as outsourced collections, training or support. There are some factors that indeed indicate you need some help in your credit management function, including:
- Payments are continually late through customer disputes
- Payments are continually late through customers using delaying tactics
But there are also factors that allow you to specify when credit management consultancy is the correct service for your business:
- The systems you have in place have issues or aren’t working as effectively as they should
- You want your staff to have in-depth training in credit management that they can utilise in their own work and when training others
- You need other members of staff to understand the importance of certain procedures, that are falling through the cracks currently.
- Your terms and conditions, payment terms and credit limit management is not implemented effectively
- You have no management reporting or KPI setting in place to track progress
- You want to keep your credit management function in-house
- Overall, you don’t know the most effective processes and procedures for your business specifically
Our credit management consultancy service has a proven track record of significantly improving a business’ cash flow and drastically reducing the risk of bad debt.
Up to 84% funding is available to eligible businesses, get in touch today to discover if consultancy is right for you.
