Invoices not being paid on time?
Hate chasing customers for late payments?
Effective credit control not only improves your cashflow, it also saves time and eliminates the challenge of chasing your own customers for late payments and importantly resolves queries and disputes on a timely basis.
However, not every business can afford to employ a full time credit controller. When adequate procedures are not in place, credit control problems will impact on your business cashflow, possibly resulting negatively on your supplier relationships and wages,
The good news is there is a solution. Many businesses like yours need help to get customers to pay on time. Our credit control clients range from sole traders to entrepreneurial startups and SMEs.
Here at GroForth, we want you to have an effective credit control process that supports good customer relationships, makes it easy for your customers to pay and encourages them to settle their invoices promptly.
We provide tailored solutions designed to meet your immediate needs and grow with you as your business develops. We also provide fully outsourced credit control if you do not have an in-house credit control function, we can also provide an audit/evaluation of your current system, potentially resulting in the implementation of a far more efficient credit control system.
Our credit control services include:
GroForth helps businesses across Ireland design and implement effective credit control policies and procedures. We also provide fully outsourced credit control solutions. The sectors we work with include beauty, healthcare, wellness, retail, hospitality and technology.
Credit control is a process that ensures you receive prompt payment for the goods and services that you provide to your customers.
Credit control is important because it improves your cashflow, saves administrative time, and assists in minimising any bad debts. Always ensure you fully understand your customer’s needs, essentially this should incorporate the need for customer Purchase Orders (PO’s) when needed.
Backlogs of processing in your finance department, delays in raising invoices timely, identifying trends and highlighting potential problems that may arise with your customers are all signs that improvements are required for effective credit control.
Seek advice on implementing an effective credit control policy. (GroForth can help you with this). Ensure your credit control staff adhere to the policies. Make it easy for your customers to pay you. Be consistent. Monitor and record payments that are due/paid and don’t delay following up on late payments.
Always maintain the best of relationships with all customers.
Outsourcing credit control can be more cost-effective than employing an in-house credit controller. As well as enhancing cashflow, it allows businesses to access to skills that can be difficult to hire/retain. Effective credit control management contributes greatly to healthy cashflow. Many businesses greatly appreciate the outsourced credit control model.
While you can outsource credit control at any time of the year.
Thank you in advance for contacting me.