The role of a credit controller is to handle your invoicing procedures so that you don’t have to worry about making sure you get paid – leaving you to focus on running your business.
It sounds simple, so what are the benefits of not just trying to do it yourself? If you’ve ever had invoices go unpaid or overdue, you probably already know how time-consuming and stressful chasing them can be.
But if not, here are just three of the main ways in which a credit controller can help you, compared with the do-it-yourself option.
One of the main benefits is simply the time saved; an experienced credit controller is able to take a proactive approach to checking invoices are received and processed for payment, and that saves lots of time later.
When a debt goes unpaid or overdue, having a professional team in place to chase it can still save time, as experienced debt collectors will only take the sensible steps required to get the client to pay – without getting distracted by paper-thin excuses or personal appeals.
The flipside of all of this is that the time you save can be spent on other things, such as actually running the profit-making side of your business, rather than becoming quagmired in payment admin.
The financial benefits of appointing a credit controller are probably the most obvious advantage, but you might not realise how far-reaching they can be.
First of all, there’s the increase in successfully received invoices – meaning less of what you are owed goes unpaid.
There’s also the fact that your money typically comes in faster, even on invoices paid within the deadline, and this is good news for your business cash flow, and for any interest you might generate on your main account.
And on overdue debts, you can charge statutory interest, penalty fees and debt recovery costs – something we can do as standard if we have to chase an overdue invoice on your behalf – so that you are not left out of pocket.
Let’s face it, chasing debts is not fun; even if you ignore the doubt and uncertainty over whether or not you will ever actually get paid, it’s still inconvenient going after clients to try and get money out of them, and you will often receive angry phone calls or aggressive emails from those who don’t feel like they owe you.
Use a credit controller, and you don’t have to worry about any of the stress. We can handle the whole process from initial invoicing to chasing up any unpaid debts, and everything in between.
That means checking the invoice is received, when it will be processed and paid, and verifying that the funds are received into your account – a calm and stress-free joined-up approach to getting what is rightfully your money into your business bank account.
To talk to a member of our team please call 0808 271 8565 or click here to fill out our contact form.