Displaying items by tag: Credit Control

One of the single most important aspects of effective credit control in any business is ensuring that you know exactly who you are dealing with, before any credit is provided.

If you don’t know who your customer is, it is impossible to correctly identify the risk involved in providing credit and means your company is doing business “in the dark”.

Published in Guides

Most people have heard of credit checks - even if what you immediately think of is the background check the bank runs when you apply for a credit card, loan or mortgage.

In principle, securing a credit report from Experian on a new customer is the same process, even if you are not lending them money; any goods or services provided upfront, to be paid for later, still represent a line of credit, and a risk to you if the customer fails to pay.

But how do you know who will pay in full and on time, and who is a higher credit risk?

Published in Guides

Unless you have the luxury of an in-house credit controller - which is something even some larger firms can't afford - you might be tempted to take a head-in-the-sand approach to chasing overdue invoices, and simply try to pretend they never happen.

Sadly they do happen, even from trusted long-term customers, and that can lead in turn to some soul-searching: Why didn't they pay? Did I do something wrong? Is there no trust in business any more?

Published in Guides

Whether you're in business on your own, or part of a company, it's essential to protect your income - and one of the greatest areas of risk is when you extend a line of credit to a customer.

Remember, any time you carry out work, or provide goods or services, without taking payment upfront, you effectively become a creditor.

That means you need to think carefully about several different factors, for instance:

Published in Guides

Making sure you get paid promptly every time, without fail, is about more than just issuing invoices promptly (although that can help).

There are several ways to increase your chance of receiving payment in full and on time - and here are some of the main points to consider.

Published in Guides

Whether you're in business on your own, or part of a company, it's essential to protect your income - and one of the greatest areas of risk is when you extend a line of credit to a customer.

Remember, any time you carry out work, or provide goods or services, without taking payment upfront, you are effectively investing in your customers company.

Published in Guides

Safe Collections is proud to announce that we are now the official Debt Recovery partner of Halton Chamber of Commerce & Industry.

 

Published in About Safe Collections

If you're a Guardian reader, you may have seen Safe Collections' collections and partnerships manager Adam Home quoted in a Guardian Professional article on May 12th.

Tim Aldred's piece looked at the case for credit control teams as a way for businesses to safeguard their cash flow and, ultimately, to stay in business by avoiding late payment.

Adam was happy to share his ideas with Tim for the piece that you can find here: "Does your business need a credit control team?" ((c) Guardian News & Media Ltd) and we're going to expand on some of those points below.

Published in About Safe Collections

Following on from the success of our free Late Payment iCalc for iPhone, in November 2010 a BlackBerry App was released. This free app brings exactly the same functionality to users of BlackBerry handsets.

Published in About Safe Collections

In May 2010 Safe Collections became the first company to release a free iPhone App to help UK business owners. The app makes it easy to calculate both the late payment costs and interest on any overdue invoice.

Published in About Safe Collections
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