Top 10 Tips For A Secure Business Future

For all businesses it is a somewhat uncertain adventure when dealing with new customers or suppliers, one which is some instances we as business owners or managers have to take all the information given to us and make an assessment as to deal with these new subjects. 

My many years experience in the finance industry have given me the knowledge that no one has a crystal ball and all we can do is attempt to protect our business selves by gathering as much information as possible to ensure we do not end up with bad debts on our ledgers.

Now, this is where Creditserve can help, our system provides an online, instantly available, affordable and up to date credit checking system which allows you to carry out credit checks on your new and existing customers and/or suppliers to ensure they have the financial means to honor payments/contracts.

Key Features: 

• Instant credit checks online
• Full range of in-depth credit reports with Risk Analysis
• Discounted rates
• Live Feed of information
• Debt recovery service

Instant credit checks online 
Clients can access Creditserve's online credit checking service for instant reports on a company’s credit rating and financial history.

 

Extensive range of credit reports 
Reports range from in-depth business reports, including full accounts and credit ratings, through to simple registered information, we also offer Companies House documents and live monitoring service.

 

Beneficial rates 
We offer extremely cost effective rates for one off credit checks. Regular credit checks should form part of your credit management routine on new customers, defaulting customers and those seeking an increase in their credit limit and therefore an annual subscription is often the most cost effective way to credit check your customers and suppliers.

 

Up to date information 
Our range of credit reports are updated on a live feed to ensure they include the most recent and accurate information.

 

Debt Recovery Service
Creditserve also offer this back up service to the online credit reporting and work on a no collection-no commission basis. We work on all cases on pre legal basis and add costs and interests to the debt value which you are entitled to from the time the debt becomes overdue.

 

Crucial Top 10 tips for all credit control departments:- 
1. Always perform credit checks to ensure you know your customer
2. Get your customer to complete a credit application form
3. Wherever possible obtain a personal guarantee from company directors
4. Get a signed contract incorporating your terms and conditions
5. Give your customer a credit limit and review this regularly
6. Invoice on time and ensure details are accurate
7. Phone your customers before payments are due to ensure there are no queries
8. Send monthly statements
9. Use properly drafted collection letters
10. Consider outsourcing your non paying accounts to a reputable debt collection agency like Creditserve Collections

If you would like any further information please feel free to contact me on 01992 414222 or email martin@creditserve.co.uk LinkedIn Martin Brown or follow on Twitter @creditserve

'Tis the season to be diligent! Business failure in January is rife....

Christmas has come and gone, the Christmas trees have all but gone, people have eaten their fill and now is the time for people to return to work and their businesses to be collecting their outstanding monies from their customers. 

But as we all know the pre-Christmas spirit rarely transfers into the new year.

January is statistically the month in which most UK businesses fail. Whether it be the sad story of their bigger customers withholding payments longer than they might or the more sinister reasons that cause small businesses to fail just shortly after the Christmas boom.

Lets be honest you have worked hard to acquire the customer, quote for your products or services, deliver them to the best of your ability but now all you want is to be paid... Isn't that the way it should be?

There are professional agencies who specialize in commercial debt recovery in a cost effective manor and there are also credit checking systems which will allow you to credit check your customer database to ensure that you will not be on the receiving end of a bad debt.

Creditserve offer a cost effective, competative and professional credit reference and debt recovery service so if you have any questions or simply want some advice please feel free to contact martin@creditserve.co.uk or call 01992 414222. You can also visit our website www.creditserve.co.uk for more information.

All the best

Martin Brown
Creditserve Business Information Ltd