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Credit control is not what you think

How do you feel when you think about credit control?

Do you worry that aggressively chasing payment could make you unpopular? Do you think you don’t have time to chase up money owed? Do you even know how much money is owed to your company?

These are all challenging questions and usually arise when credit control has not really been managed carefully enough. It’s like house repairs, little and often means there is no cause for a major overhaul or a panic.

Learn to love your credit controllers and stop being afraid of the concept of credit control

Credit control does not have to be difficult or awkward.

The phrase “chasing payment” may not have a particularly pleasant ring about it but if you use the phrase a “regular reminder” you may feel differently about it. After all, you don’t go into a job, run out with a jumper shouting ‘don’t worry I’ll pay you at some point in the future you won’t need to remind me!”

Outstanding debt is not a stigma

Some businesses are even concerned that the amount that is owed them is a bit of a stigma. It’s as if it reflects badly on them. The longer a debt is outstanding the less likely it appears it’s going to be paid. However, this situation doesn’t have to arise in the first place. Even if you find you are having difficulties collecting outstanding sums there is another way. You are not alone as 4 out of 5 of UK companies are owed money.

Don’t let cash flow problems wreck your business.

Credit control can be outsourced.

For some of you that might mean breathing a sigh of relief. Yet it’s true. You might well be surprised how a credit control service can impact dramatically on your business. Who wouldn’t want an improvement in cash flow? Don’t think just because you haven’t been paid it doesn’t mean that it will never happen. You may not have time to chase debts but we have the time and inclination, skill and expertise to undertake it on your behalf. Think about this, it may well be impacting the health of SMEs.

The important thing is to find the groove.

If your business proactively chases payment then everyone will be happy. Things can slip, people can forget. If you don’t chase then people are not going to be forthcoming in paying up as they may even think you haven’t noticed. What you don’t want is for debts to go unclaimed. Why would anyone want to work for nothing or give services, skills and products away? Exactly.

 You may think that credit control is way out of your league

We think you will be pleasantly surprised by our service and it will help you in so many ways. In fact managing finances and improving record keeping, developing payment plans and so on can really improve your business in many respects. According to Liberis’ research 72% of SMEs are spending a staggering three days each month chasing debt. How much is that really costing?

If you have ever wondered how you might manage your credit control then it may well be worth dropping in for a cup of tea and discussing just what we can do for your company. Yes, there are some who actively hate discussing debt management but can we just say it will have a massive impact on your business.

Contact us today and see just what our credit control service can do for you. It will undoubtedly remove the burden from your shoulders.

Contact me on 07788 973379 or fill out my contact form here