You might think you’re pretty good at keeping on top of your credit control – and lots of people are, to be fair – but that doesn’t mean you couldn’t still benefit from having a credit controller to take care of it for you.
Here are just five of the main ways in which having a credit controller can be preferable to handling your invoicing processes yourself.
1. About Time
Put simply, time is money (it’s a cliche for good reason…) and when you hire a good credit controller, you never again need to worry about invoicing, following up and chasing late payments, as you have someone to take care of all of that for you – and for many people, that alone is a good enough reason!
2. Power on the Blower
An experienced credit controller knows how to handle client queries, whether they are on quite general issues, or an attempt at an excuse for late or non-payment. They know how to get around the usual excuses, and when to stand firm on issues like statutory interest on overdue invoices.
3. Cutting Costs
How can hiring somebody cut your costs? Well, where overdue invoices are concerned, prevention is better than cure; legislation protects you against losing money by chasing payments, but it rarely allows you to profit from outstanding debts, whereas prompt payments allow you to earn interest and invest that money into growth.
4. Dodge the Bullet
If you’re a small-business owner, you’ve probably had to deal with a non-paying customer at least once, whether in person, on the phone or by email. Never again. A credit controller literally acts as a human shield so you don’t ever have to waste your time listening to ranting or excuses from a customer who simply should have paid in full already.
5. Time and Time Again
OK yes, we already mentioned how having a credit controller saves YOUR time, but it also saves your company’s time in general; cash flow is faster overall, payments arrive more promptly, and the admin burden of following up on issued invoices, and chasing up on due payments, is slashed not just in the first instance, but on an ongoing basis – effective credit control truly is the gift that keeps on giving.
If you would like to talk to a member of our team call 0808 274 6305.