Credit control is of utmost importance for the prosperity of any business, as it minimizes the delay in receiving payments and enhances cash flow. However, not all businesses possess the requisite time, resources, or expertise to effectively manage credit. In such cases, outsourcing credit management can be a more cost-effective and efficient solution.
At Corporate Debt Recovery, our discreet credit control service assumes the responsibility for this critical function. This allows you to focus on your business, confident that your credit management is in the hands of experts.
What does our credit control service involve?
Pre-due date verification calls or emails to confirm receipt of invoices, determine expected payment dates, and pick up on any disputes
A series of confidential credit control calls, emails, and letters for due balances
Monitoring of lapsed verified payment dates with follow-up phone calls
Escalation to nominated client contact for query and dispute resolution
Further communication where necessary to secure payment
Escalation to issue Letter Before Action
A dedicated credit controller
Benefits of outsourced credit control
Get paid faster and improve your cash flow
Regain the time to focus on core activity and growing your business
Often more cost-effective than employing dedicated credit control staff
Avoid the costs associated with recruiting, training, and retaining employees
Avoid the resource challenges presented by annual leave, sick leave, or parental leave
Peace of mind that your credit control is in the hands of the experts
Preserve customer relationships
Why Choose Corporate Debt Recovery?
We recognize that credit control is not merely a transactional process, but rather an art of fostering relationships while ensuring prompt invoice collection without compromising customer rapport.
Our team of experienced credit controllers, equipped with extensive cash collection expertise across diverse industries, employs a telephone-based approach to provide a comprehensive and professional credit control service at a cost-effective rate.
We have created a useful guide to make your invoicing process as efficient as possible and help you get paid on time.
Invoicing checklist
Is it addressed to the correct person?
Have you included a Purchase Order Number?
Have you provided a detailed description of the goods or services supplied?
Are your contact details clearly stated on the invoice?
Are your payment terms clear? Have you detailed all accepted payment methods?
Invoice Date & Payment Due Date
Total Invoice Amount Due
VAT Amount if applicable
FAQs
By outsourcing your credit control functions, your team can concentrate on core operations and revenue generation, while our experienced team focuses on enhancing your cash flow and credit standing. This strategic solution preserves your customer relationships while providing the flexibility to manage fluctuations in business activity.
Part of their role involves liaising with the original creditor and coordinating with debt collection agencies to ensure a smooth debt recovery process. This collaboration is crucial for maintaining the integrity of the debt collection process, adhering to the regulations imposed by The Financial Conduct Authority, and ensuring that all parties are aligned in their efforts to recover outstanding debts.
