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Charging late payment interest on overdue invoices can be a great form of leverage to get you paid quicker. You are entitled to start adding interest from the first day it falls overdue, but many companies will be wary of using this as a tactic as the downside is damaging a customer relationship, so when […]
**June 2024 flash sale** Collection Performance £130 + vat per person Running w/c 24th June 2024 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 refresher in credit control, wishing to improve and develop their collection techniques. **Book the […]
Late payment and poor payment practices continue to be an enormous burden on UK businesses. For the recruitment industry, particularly recruiters that deal with temporary placements, it is essential that cash flow is maintained; late or non-payment can have a significant impact on the cash flow of a business which can result in additional costs […]
I have found over the years that many businesses do not have a dedicated credit control department within their business, rather this task is assigned to a role as an added responsibility; this often leads to poor collection activity due to lack of time and training to focus on effectively carrying out credit control. For […]
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 Demand for guarantee backed SME finance rose by 68% in 2023 Fifth of SMEs want […]
Here are our frequently asked credit management questions for December. How can I prepare for confidential invoice finance? Confidential invoice finance providers will want to see that your credit management processes and procedures are clear and appropriate for the business, as this will pose less risk for them in offering you finance. An effective collection strategy is […]
We have 3 live online training events that will help improve your credit management function. Collection Performance £130 + vat per person Running W/c 4th March 2024W/c 24th June 2024W/c 14th October 2024 Start time will be 2pm Our Improving Cash Flow courses are beneficial to those new to collections, with no formal training, or to […]
If you’re looking for an overview or refresher on your credit management , why not Join Jenny as she goes through a quick master class in “How to get your fees paid in a client focused way” The session is being hosted by The Liverpool law Society , Conference for Legal Cashiers & Managers – […]
We would like to think that the information we share on a weekly basis is useful and helps you in your day to day business. There are many areas in Credit Management we can help with and alot of the problems could be solved by setting up the right systems in the first place. Internally […]
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 […]