Credit Control Solutions
While unpaid debt is never going to be totally eradicated, it is within the power of every business to reduce the amounts of unpaid debts they have. Effective credit control is one of the most important aspects to running a successful business. Ask anybody running a business and most will state their biggest obstacle to moving forward or expanding is cash flow. Without money coming in on time, the associated problems with cash flow can quickly get out of hand.
Offering credit terms is part of the service most clients expect, but is often given with an underlying feeling of uncertainty – will they pay? – Increased turnover can initially look great on paper, providing your invoices are paid on time!
What many businesses fail to realise is that the process of avoiding the problems of late payment and bad debt begins as soon as an order is placed – and your credit control procedures should reflect this.
It’s a vital process that starts with knowing your customers before you sell to them and only ends once you have been paid.
AR Legal’s sister company Racing Credit Control Ltd offers businesses of all sizes flexible and tailored credit control solutions. Whether it’s a bit of advice you’re after or a fully outsourced, managed credit control function, Racing Credit Control can help.
Simply and sensibly priced, they offer an independent and arm’s length service that will deliver results, leaving you free to concentrate on the nuts and bolts of your company rather than cash flow.
And…avoid the need for employing debt collectors……