Call us: 03332 413 203 | E-mail: contact@cmgroupuk.com
In terms of the impact on your customers’ inclination to pay you, writing effective collection letters tend to have more gravitas than emails or phone calls alone. They are a much more formal way of communicating with a customer and therefore can potentially encourage them to take a situation more seriously if they have been […]
Collection letters can be an extremely useful tool to collect payment, as they tend to carry more weight than emails alone. The key to a successful outcome is in writing effective collection letters that make your customers take notice. The tricks for effective collection letters: Letters should be incorporated into structured collections strategy You will […]
When beginning a commercial debt recovery claim, through your own company or when hiring a specialist debt recovery company, there are aspects that could make or break your claim, and others that we believe are essential for the success of a claim. Your commercial debt recovery claim: Do you know who your customer is? This […]
Having an effective credit management function is vital to any business in maintaining and improving cash flow, as well as reducing a business’ risk to bad debt. There are many different elements to credit management that will all play a role in how effective it is, here are a few tips on how to improve […]
Using the credit management tools available to you effectively can greatly increase your chances of getting paid more quickly. Making small changes to your collection strategy to incorporate all tools at your disposal can make a big impact on your collection performance. Improving your use of credit management tools Invoice Ensure that your invoices: Are […]
Late payment and poor payment practices are not issues that are isolated to a particular industry, these issues will affect businesses across all industries throughout the UK and worldwide. However, certain industries tend to be more susceptible to specific issues that result in delayed payment. For recruitment companies, issues such as ‘behind your back’ or […]
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 […]
Welcome to our June Credit Management News blog. We have given you snippets of the latest topics that we hope are of interest to you and provide information to help with your business. If there is anything you would like to see more of in our round ups let us know: CREDIT MANAGEMENT SMEs struggling […]
Question One: We have a customer who refuses to accept payment by Direct Debit and wants to pay by Standing order. We have said we will agree if we can add a £15 per month charge onto their account if their account goes into arrears to cover us for the additional admin of chasing payment. […]
If you have used the County Courts to get a debt paid over the last 12 months, you will be aware the Courts have centralised a lot of the local courts functions resulting in an extensive backlog which, in our experience has resulted in our Client’s debtors becoming insolvent and unable to pay their debts […]