Credit Control Tips
How can my business improve its credit control procedures?
Effective credit control is one of the most important aspects to running a successful business. Without money coming in on time, your business’ cash flow can be severely affected and the associated problems can quickly get out of hand.
What many businesses fail to realise is that the process of avoiding the problems of late payment and bad debt begins as soon as an order is placed - and your credit control procedures should reflect this. It’s a vital process that starts with knowing your customers before you sell to them and only ends once you have been paid.
Here, we provide step-by-step credit control tips for businesses to follow in order to get paid on time, every time. For more information on Hilton-Baird's credit control services, contact our team on 0800 9774848 or email email@example.com.
Before the sale
Credit checking potential customers is a must, as well as implementing strict credit control procedures that your team understand and follow.
After the sale
From invoicing on time to maintaining regular contact with your customers, this is the most critical stage of successful credit control.
Chasing customers for overdue payment can be tricky, so it’s important to act quickly and decisively to ensure the right result.
Behind the scenes, there are always ways to improve your business’ credit control procedures and ensure they are as efficient as possible.
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