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Credit Control is a vital part of running any business. However, finding the time in order to chase debtors can be very difficult for many small business owners. Many business owners work extremely long hours, with research pointing out that a fourth of all business owners work over 60 hours each week. However, at TFMC we can take that burden off you. Our Credit Control Southend Service can help you impose a correct credit control procedure in order to improve cashflow and the general financial health of your business.

WHY CREDIT CONTROL

Many owners of small businesses have decided to offer credit, in order to entice customers and improve sales. As a rule of thumb, you can expect an increase in sales up to 17% once you start offering credit to your customers, due to the fact that it is easier for potential customers to acquire your product/service.  To add to that, you can get people talking about your product. However, there is a clear downside to this strategy.  

Occasionally, a customer or two will miss a payment – which can happen. To add to that, the extra administrative work that comes with it is going to be very difficult to keep up with. Outsourcing your Credit Control Services could be very helpful in order to complete the moist  

Our Credit Control Services Include:

  • Establishing good credit control procedures

  • Updating and reconciling your sales ledger and control account

  • Reviewing your credit terms

  • Running credit checks to assess potential or existing customers

  • Deciding what credit to give a customer

  • Producing an aged debtors report, to give an insight into monies which are overdue

  • Sending out letters to outstanding debtors

  • Chasing payments and posting payments

  • Providing recommendations to clients when legal enforcement is necessary

  • Providing up-to-date details on the situation

We offer a fixed fee service, which means that the size of your business does not matter – we help you gain control over your cashflow, despite the size of the project, or outstanding payments. A FREE no-obligation meeting could help us determine how we at The Financial Management Centre can help you and your business with Credit Control services. Contact us today through our contact form, and an adviser will contact you shortly to arrange an initial consultation. We look forward to joining your team!