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Typically local government and large corporate companies suffer from bureaucratic delays on payment. Part of the process for on boarding a new customer should be to establish your customers process for authorisation and payment. Does your invoice need to contain specific information required for your customer to easily identify and authorise? Such as delivery address, […]
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 […]
As previously employed as a Credit Manager by a national recruitment company and working for many recruitment firms since setting up CMG UK, I have a vast amount of experience the recruitment sector. Our case studies – How to help recruitment firms get paid when a client employs a candidate directly. Backdoor hiring The Company- International […]
We hope this blog finds you well. If there is anything you would like to see more of in our round ups from more Credit Management Hints & Tips to help on E-learning webinars let us know: COMMERCIAL CREDIT MANAGEMENT Business confidence hits 10-month high Business debt levels increase by 61% SMEs owed an average […]
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 […]
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 […]