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TOP TIPS FOR CREDIT CONTROL No 8 – SEND STATEMENTS OUT EVERY MONTH

Some companies will only generate payments on receipt of a statement. Perhaps they assume that a supplier will generate a statement as soon as the payment is due. Perhaps they like to have any working...

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TOP TIPS FOR CREDIT CONTROL No 9 – ALWAYS CHECK OUT YOUR CUSTOMERS.

If you plan to do any amount of business with a particular customer, you should check out their history and their current credit status. For a minimum outlay, you can obtain a current credit report and...

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DO YOU HAVE DEBTS THAT YOU CONSIDER TO BE UNRECOVERABLE?

Under the current business pressures, it is understandable that many businesses will focus most of their effort on the front end of their ledgers in order to recover that debt before it ages. However,...

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4.1 WARNING SIGNS THAT COULD TIP YOU OFF TO A FAILING CUSTOMER?

How can you tell if one of your customers is about to fail? A recent report from the Business School at Leeds University showed that over 5000 companies became insolvent during the first quarter of...

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ONE SIMPLE STEP TO INCREASE YOUR PROFITABILITY.

Pass us your aged debt on a NO WIN – NO FEE basis NOW! API Debt Recovery are experienced in all aspects of commercial debt recovery. If you have any aged debt, your cash flow, and your profitability,...

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TOP TIPS FOR CREDIT CONTROL No 10 – SET A CREDIT LIMIT . . .

. . . then make sure that you stick to it! Check all of your customers and their references. Use that information to set up a credit limit for each of them. Then don’t let yourself be persuaded to give...

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4.2.1 THE BEST PRACTICE SOLUTION TO AGED DEBT IS OUTSOURCING, DISCUSS.

I am always surprised by the amount of aged debt, and the general reluctance to outsource its recovery, that many companies have. I suspect that the reason for this is that the cost of doing so is...

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TOP TIPS FOR CREDIT CONTROL No 11 – TAKE TIME TO CONFIRM THE EXACT TRADING...

If you don’t get a customers trading name correct at the start, you could end up losing money. A customer could be known as Joe Bloggs Plc, Joe Bloggs Securities Ltd, Mr J Bloggs trading as JB...

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TOP TIPS FOR CREDIT CONTROL No 12 – ALWAYS USE TRAINED & EXPERIENCED CREDIT...

Would you expect an untrained or inexperienced person to be able to  do your job well? Then why would you think an untrained or inexperienced person can do a credit controllers job well? If you can’t...

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CASE STUDY: WHAT OUTSOURCING CAN DO

When they first contacted us, one of our larger clients was experiencing significant difficulty in bringing all of their ledgers under control. Having gone through six Credit Control Managers over the...

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