Creditserve Business Information Ltd are very pleased to announce that we are exhibiting at the Hertfordshire Business Expo on the 19th November 2013.
The exhibition is the perfect place to showcase our new on-line credit reporting system, which enables customers to instantly evaluate their suppliers, customers or competitors credit worthiness.
Creditserve provide credit reports on all UK and Rep of Ireland limited companies and non limited companies, on-line international business information, director database information including credit score and risk analysis, company monitoring and access to Companies House documents.
Along side Creditserve' business information we are a professional debt recovery agency working on a 'no collection-no commission' basis for our customers. We actively try to recover monies with our tried and tested internal procedures and try to negate the need to 'go legal' therefore saving you time and money.
Creditserve are also able to offer in-depth consumer credit information allowing companies to carry out detailed consumer credit checks on individuals (Please be aware that you do need consent from the individual as well as the correct data protection licence in place). These reports are used by companies that deal with non limited companies, insurance brokers and independent financial advisers which may need to keep in line with due diligence.
Finally I would like to inform you that you can book free tickets for The Hertfordshire Business Expo via http://www.thehertfordshirebusinessexpo.co.uk/ or should you want to discuss any of our services featured above please either contact Martin on 01992 414222 or martin@creditserve.co.uk.
Tuesday 17 September 2013
Monday 9 September 2013
New Business Owner? Concerned About Your Credit Limit and Risk Score?
There is no doubt about it, being a business owner in todays financial climate is not easy, sometimes risky, but with the right help I can be very lucrative.
In today's blog I want to advise you that the perception of potential suppliers or customers will definitely make or break your business venture.
a staggering 88% of businesses fail within the first 12 months of starting, this is truly astounding but to some extent this comes down to being perceived in a bad light by suppliers or customers.
One thing they will be doing before entering into a business relationship with a new business is looking at any financial records available, so for limited companies they will carry out an online credit report, for sole traders or partnerships they will almost certainly look at a consumer report along with trade or bank reference information.
Now the best thing to do is ensure that if you file any and all information or fill out any application with as much information you can so as to give the perception of transparency. Your suppliers will definitely look at this in a positive manner.
With this in mind you will need to credit check your suppliers to ensure they are able to fulfil your requirements, so many new businesses are affected by poor supply lines, so do the checks to make sure you don't get caught out.
Creditserve are a provider of quality online credit reports and can cater for any and all requirements so if you would like to view a credit report on a company please feel free to contact us via email sales@creditserve.co.uk or 01992 414222 Or visit our website www.creditserve.co.uk.
Monday 2 September 2013
The Four Pillars For A Successful Credit Control
Many thousands of businesses go bust every year simply because they are owed money and can’t juggle the cash flow. Systematic, well planned credit control practises must be put in place right at the start otherwise your company will join the mountain of other failed firms. Checking references, getting credit reports and examining company business information is a sign of strength for a business and lets your customers know you are serious about credit control
1. Get a detailed application form filled out correctly by your potential customer.
So many businesses are in the rush to get orders that they do not do the necessary groundwork when setting up customers, in some instances not even knowing the correct legal entity or billing address. All of these minor details can slow up getting paid on time!
2. Do the necessary credit checks on ALL customers small or large.
When you are looking to supply a customer you need to carry out a credit report, these reports are instantly available through credit reference agencies online and can be purchased on a 'Pay As You Go' basis at under £10 per search or within bundles which can cover you for a years unlimited credit reports.
In my professional opinion the bundles are the way to go as you get so much more within them.
3. Stick to your credit limit and credit terms.
From the outset you will need to be tough as customers will look to bully or bluff a higher credit limit from you, so stick to your limit! This also happens when it comes to payment with some customers looking to set their own terms of payment. You will need to be firm and not waiver because if you allow them an inch they will no doubt take a mile!
You could even make a telephone call or send an email gently reminding your customers that payment is due on a certain date, this shows good customer relations but also that you have your finger on the pulse.
4. Don't be afraid to use debt recovery agents to recover outstanding monies owed to you.
This is one step that businesses do not grasp as much as they possibly should. You can utilise the professionalism of an outside debt recovery agency without costing yourself or your company time and lots of money. Any debt recovery agency worth its sort will not charge upfront fees, they simply apply a commission charge if and when they are successful.
Obviously doing the chasing and sending letters has an expense to yourself so if you are getting nowhere with a delinquent debtor why not pass it on to the agency and let them recover the money for you.
Usually a good commission rate is between 7 - 12% on any monies recovered, but remember it is your right to add costs and interest to the debt from the date it becomes overdue.
If you would like to know more or have any questions please email me on martin@creditserve.co.uk or follow me on twitter @creditserve
1. Get a detailed application form filled out correctly by your potential customer.
So many businesses are in the rush to get orders that they do not do the necessary groundwork when setting up customers, in some instances not even knowing the correct legal entity or billing address. All of these minor details can slow up getting paid on time!
2. Do the necessary credit checks on ALL customers small or large.
When you are looking to supply a customer you need to carry out a credit report, these reports are instantly available through credit reference agencies online and can be purchased on a 'Pay As You Go' basis at under £10 per search or within bundles which can cover you for a years unlimited credit reports.
In my professional opinion the bundles are the way to go as you get so much more within them.
3. Stick to your credit limit and credit terms.
From the outset you will need to be tough as customers will look to bully or bluff a higher credit limit from you, so stick to your limit! This also happens when it comes to payment with some customers looking to set their own terms of payment. You will need to be firm and not waiver because if you allow them an inch they will no doubt take a mile!
You could even make a telephone call or send an email gently reminding your customers that payment is due on a certain date, this shows good customer relations but also that you have your finger on the pulse.
4. Don't be afraid to use debt recovery agents to recover outstanding monies owed to you.
This is one step that businesses do not grasp as much as they possibly should. You can utilise the professionalism of an outside debt recovery agency without costing yourself or your company time and lots of money. Any debt recovery agency worth its sort will not charge upfront fees, they simply apply a commission charge if and when they are successful.
Obviously doing the chasing and sending letters has an expense to yourself so if you are getting nowhere with a delinquent debtor why not pass it on to the agency and let them recover the money for you.
Usually a good commission rate is between 7 - 12% on any monies recovered, but remember it is your right to add costs and interest to the debt from the date it becomes overdue.
If you would like to know more or have any questions please email me on martin@creditserve.co.uk or follow me on twitter @creditserve
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