How do you raise your profits without raising your prices? It’s the classic conundrum in competitive markets like accountancy, and credit control for accountants seems to be one of the answers.
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Keeping on top of your invoices is hard enough, which is why outsourced credit control can be a useful service for businesses of any size – but if you’re handling your own finances one of the big questions can be when debt recovery is the best route to go down.
We often stress the importance of having payment terms and conditions in place, particularly if debt recovery action becomes necessary later.