5 Tips on Improving Your Cashflow
While 2012 is now upon us many businesses still experience the same difficulties that they did in 2011 when it comes to late payers and overdue accounts.
Federal Management, the UK’s leading commercial debt collection agency, have compiled a list of 5 key tips to help you and your business deal with non payment of invoices and improve your cash flow.
Prevention is Better Than a Cure
When it comes to unpaid invoices and overdue accounts the ideal solution to the problem is to not get them at all. Utilising a credit referencing agency such as Creditsure can make you aware of just who it is you are offering credit to, if they have a history of judgement for non-payment or if they are credit worthy at all. Preventing the debt from accruing can save both time and money in the long run.
For further information you can contact Creditsure by contacting them directly on 0844 875 4066 or by clicking on the following link. Creditsure Credit Checks
Time Is Money
The time you and your staff spend chasing a debt is time that could be spent running and improving your company. As the old saying goes “Time is money” and time wasted is money wasted. Don’t delay when your accounts become overdue. The more expedient a company is in utilising a debt collection agency to handle their bad debt ledger the quicker the company can get the money they are rightfully owed.
Don’t Accept Excuses.
“We are just waiting for a payment to clear.” “A cheque is on its way.” Sound familiar? Debtors will try every means possible to avoid paying a debt including telling you what you want to hear without any real intention of resolving the issue. Don’t accept excuses – once a payment is overdue then let the professionals take over.
Make a Statement
By utilising the services of a reputable debt collection agency you send out a clear message that late/non-payment of debts is unacceptable which can act as a deterrent to both new and existing clients who may have been considering not paying an invoice on time.
We live in a world of heavy legislation and compliance. A simple phone call to somebody that owes you money can be construed as harassment. Let the experts deal with it. A reputable debt collection agency will not only recover your debt professionally and expediently but will do so in way that won’t harm your reputation or your relationship with your customer.
Any business who is experiencing difficulties with late payment of invoices, overdue accounts or any other form of non payment should contact Federal Management immediately on 0844 875 4022 to take the first steps in resolving the situation.