Outsourced Credit Control
Our outsourced credit control services can give you more time to focus on your business because chasing your customers to pay on time can be very time consuming.
To improve your cash flow and reduce bad debts you need a system that starts to work even before the customer’s payment is late. The key to efficient credit control is a robust process backed up by prompt decisive action and that’s what our credit control outsourcing service can give you.
We can:
Credit check new accounts and manage your debtor’s late payments
Follow through all payment queries with copy invoices, proof of delivery or credit notes
Report on any outstanding issues informing you early on if there may be a potential debtor problem
Diplomatically chase late paying customers, managing the whole process through to appointing a specialist debt collection agency if needed
Keep a record of all communications so that if there are payment problems we can forward on relevant correspondence as required.
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Fed up with chasing unpaid invoices?
Small businesses rely on customers paying on time. Late payments can have a serious effect on cash flow, and make it much harder to run your business. And yet chasing those late payments takes up a huge amount of your time – and is often frustrating.
In many ways, it’s easier to use a third party to do this for you, which is why outsourced credit control is a popular option. Small businesses – particularly those with personal relationships with their clients – can find it difficult or embarrassing to keep chasing money, and clients have been known to take advantage of this in order to delay payment.
When the request comes from a different source, however, and is accompanied by copies of the invoice, proof of sale and other paperwork, your creditor is more likely to pay promptly. And if they don’t, our virtual credit control services can take the next steps to recovering the monies owed to you.
How does it work?
Understandably, small business owners can be reluctant to outsource one of the key aspects of their financial management. Using an experienced outsourcing company, however, gives confidence in both the security and the efficiency of the service.
If you already run a CRM system or a digital accounts system, you can set up your outsourced credit control VA as a user, and they can handle everything remotely. That means they have access to all the information and documentation they need, and you can keep track of what stage each payment is at.
If you don’t have these systems in place, you can just as easily share your Excel spreadsheets or other customer information to ensure that our outsourced credit control services have everything we need to do our job efficiently for you.
You’ll be able to brief them thoroughly so that they understand how you work and how you like to deal with clients.
This in turn will help your outsourced credit control VA to represent your business professionally and diplomatically at every stage of the process, allowing them to collect payment on your behalf and keep your cash flow in good order.
Outsource Your Financial Management
In time, you may choose to outsource more of your financial management. This makes sense for small businesses, for whom recruitment and employment is expensive and not always necessary. By only paying for the time you use, and choosing a remote outsource provider, you benefit from all the experience and knowledge without having to pay a fortune.
Find out more about how our outsourced credit control services can help you
FAQs
Need answers to your most burning questions? You’ll find them covered in plenty of detail below.