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Offering credit to customers will always pose risks to your business, however having the most effective credit management process in place will significantly reduce this risk and your cash flow will ultimately benefit. Every business should continually monitor their credit management activity so that any downfalls in the process can be addressed promptly; poorly executed […]
One of the regular questions we get asked is how we can help a Small to medium business with their cash flow? There are some simple and easy ways you can help yourself from the start: Credit check prospective customers This may seem like an obvious one but there are a lot of companies who will […]
For many businesses, particularly those in B2B businesses, offering credit to customers is a necessity in order to remain competitive. Considering this, every business needs to have procedures in place that determines what payment terms a customer will receive, and how much credit they will be given. What are the benefits of setting customer credit […]
Translating credit management training courses into your business Credit management training courses are designed to teach you the knowledge and skills to go back to your business and make necessary changes for improvement. But how can you ensure that you will be able to translate what you learnt into your real work environment? Take lots […]
The Recruitment industry can be extremely tricky when it comes to effective credit management due to the high volume of negotiations that occur between yourselves and your clients. Having strict policies and procedures in place across the business can save you a lot of time and energy when collecting payment or indeed taking legal action. […]
Are you looking for help with Customer Focused & Effective Credit Management? Small businesses need to ensure they have the most effective credit management systems and skills to tackle late payment seriously, to avoid becoming one of those statistics. If late payment isn’t tackled effectively, the effect on businesses and ultimately the economy could be […]
Unless your product or service is entirely unique in the marketplace, like the majority of businesses , you will need to extend credit to your customers in order to remain competitive. The downside of extending credit to customers, however, is that it can cost you much more the higher your turnover and the longer your […]
How to Plan invoice collection What advice can you give me with regards to asking for money? I’m sure I’m owed lots of money but I send so many invoices, that it is becoming increasingly hard to chase them all? The trick is to know how to plan invoice collection. Use the Pareto Principle (80-20 […]
Why download our Disputed Invoice Management Toolkit Following in our series of Useful Toolkits our Dispute Management one has proven to be one of the more popular. A 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 […]
The third instalment of our FREE toolkits is the Credit Management reporting section. These handy printouts explain the process you should follow and the best reports you should be creating in order to keep a close eye on your cash flow. Credit management reports are useful to track the collection performance, by reporting key measurements […]