Chasing invoices and payments is probably the most socially awkward task in business. Many people don’t like to do it, but it has to be done. It shouldn’t have to be such a chore – in an ideal world, businesses would get paid for the products and services they provide on time. However, staying on top of cash flow is often a common issue for many business owners who don’t have the time, resource or perhaps the expertise for successful credit control.
Outsourcing credit control
The success of any business is built on strong cash flow. Credit control is all about grabbing the bull by the horns. It’s about being proactive, but also being sensitive to factors that may have caused a delayed payment. We find we get better results when our approach isn’t hard, but simply professional, building a rapport with clients.
Most businesses find it hard to justify the costs of a dedicated credit control specialist. However, culturally there is a belief that chasing payments could be done internally, never considering the cost implications or time wasted.
Outsourcing credit control to MNE isn’t simply about passing the buck. We’ve invested in industry best technology, implementing proven processes that means credit control is faster, more efficient and cost-effective.
What outsourced credit control means for your business
- Seamless integration of credit control in your company. As well as having excellent customer service skills and a methodical approach, our team have worked with companies in a variety of industries and sectors – we get business.
- Through the use of data modelling and the analysis of customer behaviour, our team recognises future sales and up-sell opportunities.
- Reduce the need for additional funding or loans. Strong credit control practises often means our clients can invest in the next product or service development without the need for further finance.
- Regularly review the status of existing customers in order to minimise risk. Regardless of whether a company has paid on time historically, a business’ circumstances can change.
Our costs are calculated by time spent on your collections rather than per customer. This way we’re able able to keep the pressure whilst demonstrating that that payment within the agreed terms is important to the company and the relationship. For more information, talk to a specialist member of our team today.