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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 […]
As a credit controlled being on the ball is vital to keeping your companies cash flowing. Late payment from your customers can put constant pressure on cash flow, knowing when payments are due in is vital. You need to know each client and their payment habits – do they always pay on-time, early or a […]
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 Asset Finance market grew by 11% in January 2022 Small business lending back […]
In an ideal world your business would be paid in full before any goods or services exchange hands, however, this is an unrealistic ideal for competitive businesses. Subsequently offering credit to your customers is an ideal to maintain a competitive advantage; there are, however, risks involved in offering credit and therefore we would highly recommend […]
At Credit Management Group UK we have made the decision to move to new more accessible premises in Bromborough, Wirral. We will also be welcoming two new members to the team over the next few weeks, and our new offices now provide room for additional growth. Over the coming weeks we will be making many […]
The sales function of a business is often seen as one of the most important aspects of a business, and whilst it is vital, many companies I have worked with have focused so much energy on sales that credit management processes have fallen behind. For those businesses experiencing rapid growth, poor credit management can have […]
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 Businesses’ confidence remains steady despite rising price concerns Businesses braced for insolvency storm […]