Cash flow is still the biggest single factor as to why most businesses fail, so it is important that your credit management is operated soundly and includes the following;
A proper credit policy
It is essential to check people and businesses out before taking risks with your money. Thorough credit checks and company searches can be undertaken by us at excellent rates, for more information on these services and costs please contact us.
Know your customer
It is imperative that you know whether you are dealing with a Sole Trader, a Partnership, a Limited Company, or even a Charitable Organisation. You must use the full, official company title with their correct Trading Status included when invoicing and not the trading name. Read our blog for top tips on Trading Status and Invoicing correctly.
Educate your staff
All of your employees should be well versed in the art of proper telephone techniques and record-keeping. Key personnel should also know about debt recovery and county court procedures. Jack Russell offer expert seminars and workshops to inform your staff on these topics, either for a group or one to one. For further information on our expert seminar services please contact us.
Jack Russell Legal Process Servers
Follow a defined and proper structure regarding the chasing of your Invoices. It is always wise to have a debt collection agency like ours ready to be involved, particularly with any debt or invoice over 60 days old. Leaving it longer could be fatal and result in non-payment due to bankruptcy or your customer absconding. We do offer a tracing services.