Outsourced Collections
15th November 2022 | by Jenny Esau | Consultancy, News and Advice, Outsourced Collections
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 […]
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22nd August 2022 | by Jenny Esau | News and Advice, Outsourced Collections
I could write a book based on the do’s and don’ts of unpaid invoice collection, collected over my years in business I have found a great deal of do’s that can be highly effective, as well as some head-scratching, at times even worrying, don’ts from businesses that I have come across. Some don’ts are glaringly […]
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25th July 2022 | by Jenny Esau | News and Advice, Outsourced Collections
Whether in a time of economic prosperity or uncertainty, access to knowledge, experience and talent needed to grow businesses doesn’t have to be about increasing headcount. Our client base, which includes architects, accountants and recruitment firms, is not only benefiting because more people are choosing to do things such as alter their home, pay closer […]
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18th July 2022 | by Jenny Esau | News and Advice, Outsourced Collections
Poor payment practices are something that should ideally be addressed at the beginning of the business relationship. However, sometimes poor payment practices can arise after business has already begun. So what can you do to combat poor payment practices before or during carrying out work with your customer? Take into account the Battle of the […]
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20th June 2022 | by Jenny Esau | News and Advice, Outsourced Collections
Direct Debit can be a great tool for collecting payment from your customers, making it easier for them and ensuring you can receive payment on time. Indemnity claims however can provide a huge risk to businesses using direct debit payments; indemnity claims occur when a customer notifies their bank that an error has been made […]
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24th May 2022 | by Jenny Esau | News and Advice, Outsourced Collections
The decision of whether or not to outsource your credit management function can be tricky if you are unsure of what to expect in terms of return on investment. For the team at CMG UK our answer is always that the pros greatly outweigh any cons, so we have compiled a list of the five […]
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16th May 2022 | by Jenny Esau | Consultancy, News and Advice, Outsourced Collections
Using a credit hold function within your credit management strategy can be a highly effective tool of encouraging payment from your customers. Knowing how to effectively implement the credit hold procedure into your business is vital for its success; I must stress, however, that if you are going to have a credit hold function you […]
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22nd March 2022 | by Jenny Esau | News and Advice, Outsourced Collections
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 […]
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8th March 2022 | by Jenny Esau | News and Advice, Outsourced Collections
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 […]
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23rd November 2021 | by Jenny Esau | Consultancy, News and Advice, Outsourced Collections
Ensuring your cash flow is up date and monitored can ensure your business stays in the red even in the challenging economic times we are experiencing. Fortunately, with an effective credit control procedure in place, the threat of late payment can be reduced. Even though most owners know this companies continue to make the same […]
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