Find out how you can benefit from Credit Control
A credit control management system is a tool for managing and controlling bad debt within a business. With a robust system in place, you can easily track and manage customer debt which in turn allows you to control and forecast cashflow effectively. You are also able to create automated debt chasing based on efficient rules and professionally worded letters and emails, which allows you to focus on the minority rather than the majority.
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We work with a wide range of businesses across multiple industry sectors, and as such have built a wealth of knowledge around IT systems, Software Processes, and everything in between.
Credit control has a number of goals: reducing bad debt, increasing your business’ cash flow, and improving your credit terms with suppliers. All in all, credit control ensures that your business is not piling up unpaid invoices that need to be chased down.
Credit control is a system within your business that minimises the risk of unpaid invoices, only giving credit to customers who are able and likely to pay. Credit control is not as simple as sending invoices on time. In fact, there are many aspects that must come together to properly manage your company’s credit control.
So, what are the benefits of a Credit Control system?
Streamline debt chasing processes by automating many of the day to day credit control tasks such as reminder letters and placing overdue accounts on hold.
Promotes good cash flow management allowing you to prepare for the future.
- Faster Payments
Minimise late payments with convenient “Pay Now” buttons on emails, invoices and statements directing customers to pay via Worldpay or Opayo.
- Clear and Accurate
Improved visibility of actionable and retrospective data leads to more refined forecasting and financial planning.
Not only will a credit control system provide better cash flow, time savings and cost savings, it will also result in a more profitable and cash rich business and probably most importantly, happy customers and strong relationships.
For more information about any of your IT or software needs the please get in touch with our experienced and freindly team who will be able to assist you in your next steps.
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