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Who Is Your Customer?
This may sound like a strange question but a lot of people don’t actually know who their customer is. The reason for this is – they don’t ask! Even if you’ve known your customer for 20 years you must know their legal entity. The reason for this – if you are owed...
10 SIMPLE STEPS NOT TO BE HIT BY FRAUD
Always treat newly-formed firms and new accounts with suspicion, beware of a new client trying to place a large order for their first or second order There are certain styles of business names long firm fraudsters seem to favour. Beware of the words, Euro,...
How to Invoice Properly
Get Paid Fast! As debt collectors we see a lot of invoices. Some are good with the correct information on them but there are a great deal with practically nothing on them apart from the amount due! If you want to get paid promptly then the first thing you should do is...
Sales vs Credit Misconceptions
There is a popular misconception that the Credit Control Department is “anti-sales” and they will try to create barriers towards the sales effort wherever possible. This “Sales v’s Credit” attitude is wrong and can only be removed by strong personal relationships and...
Best Ways to Approach Collecting Your Ledger – Telephone v Letters
The telephone can be a very powerful tool and without question is the most effective method of collecting outstanding debts, but you must consider the time element involved in calling everyone in your customer base. Ask yourself two questions – How many customers do...
Reminder Letters for Invoices – Part 2
The second part of our series looks at the final stages of payment reminders. 3. Example of Deteriorating Payments Letter To be sent when payments from a previously prompt-paying customer have started to deteriorate. Dear Amount overdue: Invoice No: Date: Payment...