We talk a lot about how our outsourced credit control services can be beneficial for your cash flow, but we often don’t plough into the details of the different ways in which it works.
Here’s a one-stop reference guide to some of the ways in which outsourced credit control services feed directly into your ongoing cash flow, without any effort needed on your part.
1. Get organised
In many cases, businesses simply aren’t organised where credit control is concerned, and that leaves you open to payment disputes later.
We can help you get payment terms and conditions in place, so everything is in writing with new clients from the outset.
Credit background checks give you an insight into whether new customers will actually pay on time – or at all – and we will also put in place clear processes, including final deadline extensions and an escalation process, for non-paying debtors.
2. Persistence pays off
If you’ve ever chased someone for payment yourself, you’ll know how time-consuming it can be, but persistence really does pay off (while staying on the right side of the ‘harassment’ limit, of course).
We can send letters, emails, make phone calls and so on, to make clear that you will not go quietly into the night without getting what you are owed.
3. Service with a smile
A professional and positive manner can work wonders, but it’s hard to stay level-headed when you’re the one owed money.
Outsourcing removes that emotional connection, allowing us to focus on pursuing your debtors – of course we are always on your side as our client, but we can often convince the debtor to pay up simply by sounding concerned about the expense of court action they might face, and so on.
In short, we provide a middle ground. We work for you – not as a mediator, but to recover the debt as quickly as possible, and preferably in full – but we also add that emotional distance that can be crucial in reaching a resolution.
Look after the pennies
The point is, all of these little benefits add up to a big impact overall, and it is our focus on the fine details that allows us to deliver a top-class service.
You may think of it like the old analogy, ‘look after the pennies and the pounds will look after themselves’.
We do just that – we make sure we get the little things right every time, and the reduction in bad debt you face, and the faster invoice payments you receive, ultimately all adds up to a much healthier-looking cash flow.
If you would like to talk to a member of our team please call 0808 115 8261