From our many years of experience, acting for thousands of businesses in various trades and professions, we are able to fully advise on all the aspects of placing a good credit control system within your credit department.
Regular surveys have shown that at any time, British businesses are owed a sum of money well in excess of £100 billion, and some of that debt is more than likely owed to you. The size of individual debts vary from as little as £100 (or even less) to several hundred thousand pounds.
It is a fact that bad credit control can, and has, led to the demise of many companies; companies that had excellent products and provided quality services. This has been caused by the lack of a good credit control system, administered by trained staff. and has been further exacerbated and affected by their cash flow, which has in many cases resulted in bad debts. In some cases this has caused companies to fail and consequently been forced into bankruptcy or liquidation.
The purpose of a good credit control is to put in place as many safeguards as possible, to protect your business from suffering cash flow problems and bad debts.
Advice on credit control is given and charged on an hourly basis, and will mean us visiting your premises, meeting with your credit control staff, and reviewing your system of offering credit terms, This will be fully discussed with the principal and the credit controller of the business.
We will also advise on terms and conditions (which should be reviewed on at least an annual basis) and, if necessary introduce you to a specialist who will, after meeting with you, prepare and draft terms and conditions which will be bespoke and unique to your business.
Terms and conditions of trading are the basis of all business orders and contracts, and any company without any, or who has not had them reviewed for a long time, is inviting problems, maybe not today, but possibly in the future.