Effective and efficient credit control is critical to the success of any business, reducing the wait for payment and improving cash flow. However, not all businesses have the time, resource or expertise to dedicate to successful credit management.
Here are four reasons you should consider outsourcing your credit control to us.
1. Improved cash flow
This is perhaps the best reason for you to seriously consider outsourcing your credit control. Without a healthy cash flow and without knowing when payments are due, your company can’t grow or run effectively. Our credit control team aim to ensure your money is collected within your payment terms.
2. The credit control process becomes procedure
We will put in place bespoke, formalised monthly procedures, which proactively remind your customers to pay on time.
3. Less stress
A company with the know-how and experience to take the strain of collecting your money will reduce your stress levels and your to do list! You are free to look after customers, oversee the business, obtain sales and think.
4. No need to employ
There is a cost saving benefit when you outsource credit control too….
Employing an in-house credit controller can cost in the region of 22,000+ a year. You also have sick days and annual leave to contend with. Will they be good enough? How difficult will it be to find and hire someone else if it doesn’t work out?
Using a valuable member of staff to chase payments is also costly due to time constraints. This is because adding an extra job role to their daily duties may result in tasks not being completed on time. By not formalising your collection process, you are leaving customers to pay when they want to.
Therefore, having a professional credit management company dedicated to this role is a great benefit to your business.
If you think outsourcing your credit control is a good idea for your business and you would like to receive more information on how it works, contact us and we will be more than happy to help you.