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This week we will be covering Risk Q: I understand we need to look at the risk of not getting paid when we onboard a new contract, but are there any other risks we should be looking to reduce? A: There are many risks in business, one big one is risk of claim of consequential […]
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 […]
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 […]
During a recent survey Experian business assist revealed that 63% of businesses knew their credit score and used it to keep an eye on how they are performing. Knowing your score is one thing understanding what the score means is the added benefit. Experian have produced an infographic which helps with the understanding. Here are our […]
Here at the Credit Management Group we have many years of experience helping companies solve their late payment and debt issues. Wouldn’t it be nice if you could see the issues BEFORE you started doing business with a potential client? We are offering a free Company credit check where you can see the potential pitfalls […]
It has often been reported on that late payments are the main issue for most small businesses, figures show that around 50,000 business failures in 2014 could have been avoided if all payments due were paid within 30 days. The majority of companies respect their suppliers and pay the invoices due in the agreed timeframe. […]