An often undervalued and laxed area particularly in small companies. Staff often have to apply two heads when communicating with clients. "Mr Nice Guy" to obtain and keep clients, the next minute putting their foot down making sure clients understand the company credit rules.
By using an outsourced company to communicate the credit control to your clients your own staff are able to continue with the a good rapour with the client.
Avoid the repercussions of late payments !
Why can't I pay suppliers? There is not enough money to pay HMRC?
Before you know it a customer late payment has lead to your suppliers being paid late. Additional interest from banks arrive and you slowly find excuses to suppliers.
Customers require ground rules. They need to be clear and agreed to. A customer that has been able to delay payments and slowly extend credit with you believe they have a silent agreement and you have accepted their terms.