How To Collect A Debt From A Client [Infograph]
This is a question we are often asked. Late Payment Issues are a recurring problem for most businesses in the UK, and although the government and small business commissioner are doing their best to fix the problem, it’s a never-ending battle that will always be present in a modern-day business.
In order to collect overdue payments from clients efficiently, you need to have a process in your business that is well-oiled. Whether it is your credit control team, or you as the owner doing the collecting, if you have a plan and follow it through you will increase your cashflowRead More
As a business-owner knowing who the best debt collection agencies are could be the difference between your business surviving, and your business going insolvent. It really is that simple.
Knowing who a trusted company who falls under the banner of “the best debt collection agencies” is critical to the efficiency, growthRead More
So you are a business owner and collecting overdue accounts is a problem. Well, luckily, help is at hand. Most of our clients have very little experience of collecting overdue accounts, believe it or not, this was NOT the reason they started a business. It is often the last thingRead More
How many times do you here it from your customers? 4 or 5 times per month, maybe more: “We can’t pay because a) we don’t have a copy b) we don’t have a PO number c) our system made an error d) the manager who signs the cheques is onRead More
A company’s cashflow is the centre-piece of any business. We all know that without it, and a failure to apply strict credit collections procedures, a company will inevitably fail to trade successfully, and usually eventually die.
However it is often very easy to state this line of warning, but what aboutRead More
When you own a small business, you don’t have time to deal with bills and recovery of business debts after they turn sour. You’ll just end up losing more precious time and money, even if you do collect your debts in the end. Being prepared for late-paying customers is anRead More
Companies look to outsource debt collections when it no longer becomes worthwhile to handle everything internally, taking away precious time from other tasks and stunting growth. When should you decide to call the professionals? The answer depends on how big your business is and the rate of success you haveRead More