Working with you at the heart of your business
Many small businesses struggle with credit control – and understandably so. Credit control is difficult. When running a small business credit control is even more difficult. Issuing invoices is relatively easy but what if your customers don’t pay? Often you have a close relationship with your customers, you’ve invested a lot of time in building that relationship and the customers become friends, or at the very least, acquaintances that you would rather not upset. So how do you get those invoices paid? Use a third party Credit Controller. A good third party Credit Controller will also build a good relationship with your customers, but they’ll do it based on the fact that they are there to collect your money.
Bad debt can kill a small business. If you’re not getting paid, it doesn’t matter how many invoices you’ve issued. Your business will be in trouble if you don’t collect the money that’s owed to you. It isn’t just about not upsetting customers that you’ve build a relationship with either – what about a disputed invoice? It happens. Sometimes it is nothing more than a delaying tactic, but sometimes something might have gone wrong. It might be that the service or product you delivered to your customer didn’t quite meet the customer’s expectations or they considered the products or services to be faulty. Many small businesses will just write that money off as impossible to collect. A good third party Credit Controller will negotiate with your customer on your behalf and will try to ensure that you get as much of that debt paid.
So, what is the difference between engaging a third party Credit Controller or a factoring company or invoice discounting? The first difference is cost. Generally a third party Credit Controller will cost significantly less than a factoring company or invoice discounting company. They’ll work on a commission basis, but it is generally much lower than the alternatives. But this is one much bigger benefit – factoring companies or invoice discounting companies won’t build a relationship with your clients. They’ll collect what is due but anything disputed or unpaid will be passed back to you to deal with. A third party credit controller will build that relationship and work much harder on your behalf to negotiate and get you as much money from your debts as possible.
Corozon Business Concierge can help you to find a third party credit controller that will support your business at reasonable cost and help you to recover the money that is rightly owed to you.
Whatever your Credit Control needs, Corozon Business Concierge works with you at the heart of your business.
Let us worry about your books whilst you get on with what you do best
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