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Issues for cash flow in recruitment SMEs within the UK are owed billions in late payments; this is an issue that is affecting all industries, in businesses of all sizes and is likely to continue for as long as businesses continue to provide credit. Recruitment companies are particularly prone to issues regarding late payment and […]
Effective credit control is a vital aspect of any business and one that is often neglected in relation to staff training. Not only can a lack of appropriate training land a company in hot water later down the line through lack of knowledge of correct procedures, but often credit control staff suffer from a lack […]
We have 3 live online training events that will help improve your credit management function. Collection Performance £99 per person Running W/c 27th March – sold outW/c 26th JuneW/c 25th September Start time will be 2pm Our Improving Cash Flow courses are beneficial to those new to collections, with no formal training, or to those who […]
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 […]
There is no doubt about it, credit management, in particular credit control, can be frustrating at times; this may lie in the fact that many different departments of a business will contribute towards the success of a credit management function, and therefore there is a wide scope of possibilities in identifying underperforming areas in order […]
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 […]
This week we will be covering Incorporating T&C’s Q: We have 3 sets of T&C’s for each of our services types. To avoid having to attach each set of T&C’s to our quotes, order acknowledgement and invoices is it OK to just refer to them on our website? A: You don’t need to have your […]
Chasing customers for payment can be a frustrating task, especially if you aren’t getting the answers you are looking for (i.e. a definitive date for payment); there are a few things you can do, however, that will provide you with a structured chasing strategy and therefore have more chance of success. Use a mix […]
The Topic to cover for this week is Automation of credit limit setting Q: Our business provides IT support and equipment. We have a large number of customers with an increasing number of new customers monthly. We would like to automate our credit limit setting process as much as possible, we are thinking of automatically […]
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 […]