Offering credit is often one of the most viable and effective marketing techniques. Your customers will spend more if they do not have to pay for it directly. A recent research has pointed out that offering credit can increase sales by 17%. However, as you might know, offering credit to customers could become risky, and without the proper credit collection in order you might even suffer badly due to it. If your customers are too late with paying for the goods, you run the risk of a reduced cashflow, which leads to you not being able to buy products from your suppliers.
To top things off, many SME’s owners do not have the time to chase payments, or the ability and technical knowledge in order to create/update an automated system in order to chase payments. As is to be expected, unless you are an accountant yourself. Many small business ventures have gone under due to a lack of the correct payment collection procedure.
This is where TFMC can help you. We have experience in maintaining strong credit control policies. This can help your company maximise cashflow and benefit in other ways – such as a smaller debt and an improved management system. Call us today in order to get more information regarding Credit Control Southend.
Credit Control Southend: How we can help you.
There are various tasks we usually perform in order to prepare your business and mitigate the risk of not receiving your end of the transaction. We have listed these below for your convenience.
Preparing and Processing Sales Invoices: We can set up a plan in order to co-ordinate your invoices which will help you to keep on top of sales and credit lines.
Running Credit Checks: In order to gauge the credibility of the customer applying for credit, we can help you run checks by setting up a review and rating systems to process applications. We can also help set a scoring limit for your customers where applicable.
Chasing Payments: Where applicable, we can help you chase payments. From sending out mail to contacting the customers via phone – we will send out reminders on a regular basis.
At the Financial Management Centre Southend , we can explain in layman’s terms what will affect your business and how you can improve the your credit line and communication with your clientele . Why not get in touch today with our Year-End Accounts service to see how the team can take care of your Credit Control needs. Call today on 0127 640 9036.