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This is one of the measures in a business that can easily be missed in the excitement for a new sale. Unless you are taking the money upfront before any services or products are sent this is fundamental to your business. You need to carry out the right checks to make sure you will actually […]
Cash flow is king within any business, therefore knowing how to improve your cash flow is essential to your business’ survival. I have to say that there are many things that can affect your cash flow, for good or bad, I am only going to discuss one aspect of your cash flow (and one of […]
We have 3 live online training events that will help improve your credit management function. Collection Performance £99 per person Running W/c 26th JuneW/c 25th September Start time will be 2pm Our Improving Cash Flow courses are beneficial to those new to collections, with no formal training, or to those who view the course as 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 E-learning webinars let us know: COMMERCIAL CREDIT MANAGEMENT Consultancy boss convicted for Bounce Back Loan fraud Demand for invoice finance predicted to grow […]
In terms of the impact on your customers’ inclination to pay you, letters tend to have more gravitas than emails or phone calls alone. They are a much more formal way of communicating with a customer and therefore can potentially encourage them to take a situation more seriously if they have been paying late and […]
Typically local government and large corporate companies suffer from bureaucratic delays on payment. Part of the process for on boarding a new customer should be to establish your customers process for authorisation and payment. Does your invoice need to contain specific information required for your customer to easily identify and authorise? Such as delivery address, […]
Using the credit management tools available to you effectively can greatly increase your chances of getting paid more quickly. Making small changes to your collection strategy to incorporate all tools at your disposal can make a big impact on your collection performance. Improving your use of credit management tools Invoice Ensure that your invoices: Are […]
As previously employed as a Credit Manager by a national recruitment company and working for many recruitment firms since setting up CMG UK, I have a vast amount of experience the recruitment sector. Our case studies – How to help recruitment firms get paid when a client employs a candidate directly. Backdoor hiring The Company- International […]
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 E-learning webinars let us know: COMMERCIAL CREDIT MANAGEMENT Business confidence hits 10-month high Business debt levels increase by 61% SMEs owed an average […]
Issues for cash flow in recruitment SMEs within the UK are owed billions in late payments; this is an issue that is affecting all industries, in businesses of all sizes and is likely to continue for as long as businesses continue to provide credit. Recruitment companies are particularly prone to issues regarding late payment and […]