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What to Look Out for When Credit Checking Customers

credit checking customers

Every company should credit check their potential customers prior to carrying out work with them; or at least credit check ones with higher value orders. There are specific things that you should look out for on a credit risk report that should give you an effective overview of your customer’s credit risk. What should you […]

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Tips to Keep in Mind When Extending Credit to Customers

extending credit to customers

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 […]

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FREE Credit Management Reporting

Credit Management Reporting Guide 1

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 […]

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FREE Credit Risk Assessment Toolkit

Credit Risk Assessment Process Tool

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 […]

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How to Incorporate Credit Risk Management in Business

credit risk management in business

When budding entrepreneurs decide to be the next Mark Zuckerberg, dreaming of creating a vast business empire and billions in sales, the last thing they usually think about is the financial risk to their business and to them personally. Some may find the thought of managing financial risk daunting, but it should be straight forward. […]

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The Importance of Credit Checking Customers

credit checking customers

Many times, when there is potential for a sale, businesses will jump at the chance for more work and forget about one of the most important factors in a business, when all of your work has been completed, will you actually get paid? Carrying out a credit check on potential customers prior to doing business […]

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Our top tips for managing business cash flow effectively

improve cash flow

Managing business cash flow effectively is essential to the survival of any business, many things will count towards positive cash flow, here I will be focusing on the credit management aspect of managing cash flow. Credit check prospective customers A prospective customer may appear to be an attractive business prospect during your initial talks, however […]

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10 Common Mistakes Made in Commercial Credit Management

Commercial Credit Management

Throughout my years in commercial credit management I have identified a number of mistakes that companies make within their order to cash process; mistakes that are often very small and easily fixed; make enough of them, however, and you could find your cash flow isn’t flowing the way you would like it to. Mistakes in […]

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