Credit Management

Credit Services

Helping you to be paid on your terms

Do Your Clients Pay On Time?

Credit Management is about setting up, running, and fine-tuning the systems you have in place to deal with anyone who you expect to pay you for a product or service, from their first payment and throughout your entire relationship with them as a client or customer. This is a function that we are experts at optimising for our clients.

Cost Effective
Credit Management

Effective
Credit Control

Streamlined
Debt Recovery

What is Credit Management?

The process of Credit Management varies from business to business, but typically includes:

Credit vetting potential customers in line with your company risk profile
Onboarding new clients, ensuring the accounting system is set up correctly and contracts are signed
Ensuring invoices are produced correctly, statements are sent on time and cash is allocated accurately
Contacting clients to ensure invoices are paid on time and in line with credit policy, while resolving disputes quickly
Starting the Debt Recovery process when a customer defaults on a payment

Our Credit Managers use their knowledge and experience to create smooth procedures aimed at avoiding the need for Debt recovery.

Good Credit Management is essential for all businesses to avoid unpaid invoices piling up unpaid for weeks, months, or years, or simply go unpaid, causing potentially serious harm to the business that carries more and more debt as a result.

We are masters of Debt Recovery, but if you have sound Credit Management systems, debts are much less likely to accumulate. We have worked with businesses that, before we helped them, have had on-paper sales of £1m in a year, but received just £100,000. That is a recipe for disaster.

Successful Credit Management should be accessible to all, so we have made our services suitable for all sizes of business. They include advisory services enabling businesses to make better business decisions by showing them how manage credit effectively.

Our Credit Managers have extensive experience in re-structuring ineffective credit departments and, if necessary, clearing backlogs of debt.

We offer Credit Management reviews to fully understand your current performance and identify potential areas for improvement so that you have a sound strategy to rely on. Our qualified experts will perform a comprehensive assessment of the key areas of your current Credit Management processes, policies and systems. These can include invoicing, dispute management, customer communications and credit policies.

Only when we are satisfied that we have a full picture, will we offer our professional recommendations. We may conclude that there is little or no action to be taken, but if we can provide help, we will. This might include supporting and training your staff and our Debt Recovery service for overdue invoices.

How can The Credit Collections Company
help me as an SME business?

Our Credit Management service is designed to help SMEs to understand, how good Credit Control steps can help their business with not only their Cash Flow but also help minimise the potential for bad debts

Sheila Chadha, Managing Director

Poor cash flow example

Sometimes people come to us and say, “I made £1,000,000 in sales last year, but I only collected £600,000 of that last year”. That is clearly a problem.

We would ask why there is such a large shortfall in cash collected and help to bring it in urgently. The consequences of being owed that £400,000 could include your losing potential interest on that sum, and having less money to work with.

Worse, you may be making up this shortfall by borrowing money and paying out interest yourself, or by not paying your own suppliers in a timely manner.

Our range of affordable credit services can be tailored to support you and your business to keep the cash flowing into your bank account.

We have flexible
solutions that work

Here at The Credit Collections Company, our focus is to help any sized business from a solopreneur, right up to a multi million pound SME. We will listen to your problems and come up with a suitable Credit Management plan for you, that is affordable and cost effective. We recognize that one size does not fit all and everyone s problems are different.

You can hire us for as little as a few hours a week to give general advice, or some projects require a full time approach. We will work with you, on whatever suits you best.

As a SME Business owner,
I want to protect myself

We cater to all budgets, as our mission is to help everyone!

If you are on a limited budget, consider using our credit monitoring service with the option to add on Credit essentials. We give you the tools, show you how to
use them, and then leave you to run your business your way. This gives you
peace of mind, knowing we are in the background constantly checking your
customers 24/7.

Time To Overhaul Your Credit Management?

Our Credit Management service is designed to help SME business owners to understand how a good Credit Control process can help their busines grow. By setting up effective Credit Managment systems and disciplines, we can help you improve your Cash Flow and minimise the potential for bad debts.

Who we do it for

A few of our Current and previous clients

Pricing & packages

virtual credit
manager

£50

per session

Pay as u grow

Access to a Credit Manager

Have a qualified credit manager on hand anytime you need
Book dates/times that suit you including evenings (8 am to 8 pm)
Ask anything you like during these sessions
Pay as you go

You can pay as you go, as and when you need us. Our advice is to prepare either a list of questions before the appointment or to have your systems and reports ready that you wish to share to make the best use of your time with us. We will answer any questions. In the event, we cannot answer anything within the booked time, we will get back to you with the answer at no extra charge.

Credit Essentials

£500

one oFf fee

Credit Essentials

Basics for any Busines

Review Aged Debtors
Implement customised letters for your business based on your Industry.
Review your Credit terms
Implement a credit risk policy
You can upgrade to our Prevention & Bad debt review package and only pay the difference for up to 6 months after completion
We will support you by email/phone for 30 days after the completion

We will sit down with you and do a complete review of your Aged debtors to figure out where the main problem areas are and you will have a report which will enable you to work out if there are common problems which can be resolved internally or externally going forward.

Prevention & Bad
Debt Review

£1,500

one oFf fee

Prevention & Bad debt review

(Our most popular service)

Everything in Credit Basics (We do a full review again if you have already signed up for Credit Basics more than 6 months ago)
Implement/configure statements (Including designing if needed)
Implement/review credit application form
Implement/review a full credit vetting process
Implement/review bad debt process
We will support you by email/phone for 60 days after the completion

The main aim of this service is to put in processes that will help eliminate or minimise the risk of bad debts. We will look at everything you do as a business in terms of vetting new clients. If you do not have anything in place already, we will implement full processes

your credit
executive

£2,000

from

The Good, The Bad & The Ugly

If you have serious backlogs of invoices and cashflow problems, this is for you.

Complete A-Z of Credit Management
Clear backlogs of debts
Manage and recruit staff
Improve cashflow
Review of processes and IT systems that may affect cashflow
Review Collections process
Mentor staff
Set targets for staff and cashflow

This service is ideal for SME’s, ideally who turnover £1m+, who need a credit manager to either fix backlog of debts, or takeover the whole credit management cycle.

Recover Your Debts Today!

Testimonials

FAQs

What is credit management?

Credit Management: Credit management is a process and strategy to ensure a customer is credit-worthy and can pay its debts back in time. The job of a credit manager is to provide assess a customer and their ability to pay back the company.

Credit Assessment: Evaluating customer creditworthiness.

Credit Policy: Establishing credit terms and limits.

Invoicing: Issuing accurate and timely invoices.

Payment Monitoring: Tracking payments and chasing overdue payments.

Debt Collection: Recovering overdue payments to minimise bad debts. Its goal is to maintain cash flow and reduce bad debt risk.

I am a small business. What can a credit manager do for me?

A credit manager can show/train you how to avoid the painful pitfalls of unmanageable debt. We offer fixed-priced packages, or we can do it for you.

Are your credit managers qualified?

Yes, our credit managers have at least 10-15 years of experience and are qualified with the CICM (Chartered Institute of Credit Management). The CICM governs all credit managers worldwide to ensure they are capable, vetted, and have the relevant experience before being accredited.

I have a backlog of unpaid invoices, and my cash flow is poor. Can your credit managers help me? .

Yes, most certainly we can. This is our speciality. We will discuss all your pain points and devise a strategy to bring your Company back into positive cash flow and minimise your bad debts.

What is pay as you grow?

This is our hourly service. As the business owner, we want to ensure you always have someone you can tap into whenever you need us. You only pay as and when you need our help. There is no minimum amount and no contracts. Just a qualified credit manager who will jump on a Zoom/Teams call with you and sort out your cashflow and debt problems.

Credit Services