Cash flow is crucial for the survival and success of all businesses. The careful management of credit is essential to ensuring reliable cash flow in business.
The development of Credit Policies and Management Procedures and the continuous monitoring and enforcement of them is important for any business that supplies goods or services on credit.
Consider this; if you make a 10% profit on sales and are unable to collect a debt of $5,000, you will need to sell another $50,000.00 worth goods or services just to break even.
What is Credit Management
Credit Management essentially revolves around:
Complete the form below and we will send you our 'Guide to Better Credit Management - 6 Steps to Improving Cash Flow'. This Guide provides an overview of our approach to Credit Management by reference to the following simple steps:
Step 1: Know Your Customers
Step 2: Make Effective Contracts
Step 3: Send Invoices
Step 4: Enforce Credit Limits
Step 5: Implement Debtor Management Procedures
Step 6: Use Debt Collectors & Lawyers at the right times.
If you have any questions or require any assistance please feel free to contact us.