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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 […]
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. […]
Within my 30 years’ experience in the credit management profession, I have seen many mistakes made in B2B credit management; these mistakes, if not rectified, run the risk of negatively impacting cash flow and customer relationships. Here are just four of these mistakes: Terms and Conditions Many businesses find attaching their terms and conditions to […]
Considering invoice finance for any business should take a substantial amount of evaluation as to the best solution for your business, or if invoice finance is even right for your business. It is not a decision to take lightly as this will ultimately affect the cash flow of your business, so you need to be […]
Making resolutions for your business can be a great way to start off the New Year, however in order to ensure you stick with the resolutions you firstly need to understand how you can bring them to fruition. Many business owners and managers will make the resolution to improve cash flow in the business during […]
This instalment shows how devious some debtors can be when trying to avoid paying fees for backdoor hires. As previously employed as a Credit Manager by a national recruitment company and working for many recruitment firms since setting up CMG UK we have a vast amount of experience in making sure our clients get paid. […]
The 4th instalment in our series of case studies to help recruitment firms get paid for a back door hire. This case study highlights the importance of making your terms known to your customer, so you can demonstrate acceptance by conduct. As previously employed as a Credit Manager by a national recruitment firm and working […]
The 3rd instalment in our series of case studies to help recruitment firms get paid for backdoor hires In this instalment, we show how wording in emails can prevent you being paid in full. As someone previously employed as a Credit Manager by a national recruitment firm and working for many recruitment firms since […]
This is our next instalment in our series of case studies to help recruitment firms get paid for back door hires. In this instalment, we show that it is important to have processes in place to capture all information to use as leverage to get paid. As previously employed as a Credit Manager by a […]
Back door hiring effects many recruitment firms. This is where an employer takes on a candidate that you have introduced, without telling you, in an attempt to avoid paying the agreed fee Backdoor hires like this can happen if you have sent a CV with the candidates’ personal details on them. It can also happen […]