Credit Control for Small Businesses
by Sue Marchant on September 17th, 2007
Unpaid invoices can cause serious cash flow problems for a business, but many new business owners neglect to put proper credit control procedures into place or fail to manage their debtors altogether. Efficient credit control is about managing risk, about knowing your customers and being aware of the level of risk they pose to your business. A well-designed credit control system prompts you to check customer’s payment credentials before accepting orders, offers guidance when deciding credit and payment terms for customers, and allows you to chase outstanding payments quickly and effectively. All of this, and it will also impress your... Read more »