Proactive credit control and management

Proactive Credit Management

 

Big companies have it all their own way, according to Chris Gibbons. At one end of the spectrum they have all the resources to employ the tightest of cashflow and credit control regimes, while at the other end they often employ a strategy of keeping small suppliers waiting an age for payment.

 

As a member of the Institute of Credit Management, a member of the Federation of Small Businesses and a participant in the Better Payment Practice Campaign, Chris certainly knows what she is talking about.

 

We can help get the right processes and procedures installed -  credit controls, cash flow management, business credit checks, and full credit control management

 

That's why QueryManagement is so good at coming to the rescue. Having worked for multinationals that are at the cutting edge of credit management, Chris is able to offer small companies a proactive credit management service 'on tap'.

 

 

How it works

 

Querymanagement's process is simple and forthright.

  • Our job is to get your money in earlier and reduce the risk of bad debt.
  • We take on your sales ledger, and follow a structured, best practice approach to contacting customers and ensuring prompt, regular payments.
  • We recognise the need for personal contact, so we will call your customer to confirm that the invoice has been received, is addressed correctly and checked for queries
  • If we are unable to resolve the query we will raise this with you
  • We understand that debtors are customers.  We talk to them as you would at any other part of the sales cycle, working always to keep them as your loyal customers.
  • This process can be done in querymanagement's name or your own name - either way, your confidentiality is respected
  • A report will be prepared for you, showing the up-to-date status of your accounts
  • There may be peaks and troughs, cover may be needed during holiday, sickness and maternity leave - we will handle that for you
  • Tact and discretion will be employed at all times along with ongoing monitoring - you will be fully informed
  • You'll start to see payments coming in regularly and on time, giving you both the reassurance that you can pay your own bills and the confidence to fund plans and developments to move your business forward.

If your client defaults you will then decide what the next steps will be. We will assist in this area with dunning letters/debt recovery and legal follow up if needed.

 

In a few short months you will see the improvements in terms of cash in the bank, improved cash flow and reduced days sales overdue.

 

Why not give us a call to assess your business? You may be surprised by how much we can do.

01625 878 198

 

CALL 01625 878198

 

STATISTICS RELEASED:

 

 

INSOLVENCIES IN THE THIRD QUARTER 2009 - down

Q109 = 4941  Q209 = 5055

Q309 = 4716

Statistics showing insolvencies in the third quarter 2009 have been published by the Insolvency Service.

 

 

COMPANY INSOLVENCIES

There were 4716 compulsory liquidations and creditors' voluntary liquidations in total in England and Wales in the third quarter 2009 (on a seasonally adjusted basis) This was an decrease of 4.7%  on the previous quarter but an increase of 14.6% on the same period a year ago.

The Insolvency Service 6th November 2009. INS/COM/50

 

 

In 12 months ending Q309 approximately 1 in 114 (0.9%) companies went into liquidation, which is slightly up on the previous quarter when the figure was approximately 1 in 120.

 

 

Late Payment Legislation

 

The UK was one of the first countries in the EU to introduce legislation to promote a culture of prompt payment. That was in 1998.Since then, in August 2002, provisions have been extended.

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EXCUSES OF THE MONTH
'I put the invoice on top of the toaster - it burnt, sorry.'