How Would We Define Good Credit Management

 
Firstly "A sale is NOT a sale until it is paid for" 

For many a small business the excitement of getting the long awaited big order is the whole reason they are in business. However, whether your customer is a small business or a very large one, it is important to make sure they can pay you. That is why their credit information is of utmost importance.

We see now that it is more common that large companies employing hundreds maybe thousands of people fail taking with them smaller companies in their wake, whether it be suppliers or customers whom rely on the 'blue chip' company to survive.

The aim of a credit reference agency like Creditserve is to provide you with reliable, accurate and yet inexpensive source of information and enable you to assess the suitability of your customers and suppliers and therefore minimise the risk of bad debt.

Below are some of the examples that we hear from companies whom expose themselves to bad debt, and really do not need to:

• We'll be fine they are a large Limited Company/PLC.
• We’ve heard they’re doing really well.
• They’re a household name. (Use Creditserve to check some household names) Whats the harm 
• They’re part of a large group of companies.
• Just look at their address - even the building is called after the company.

What must be deduced for the purposes of credit assessment is:

• Who or what are you dealing with?
• Where are they located?
• Do they have the money to pay?
• Are they prepared to pay to your terms?

We are able to offer a wide range of credit information packages which can be more cost effective than anticipated. To view these packages please feel free to vist www.creditserve.co.uk or contact sales@creditserve.co.uk or Twitter @creditserve