What is credit control?
Credit control is a process used by businesses to monitor and review accounts with other organisations or individuals. The main goal of credit control is to maintain good business relationships and provide accurate information about the status of an account.
Credit control systems can be called many different things including credit management, credit policies, or debt-collection strategies. Whatever you know it as, it’s all about getting the money in regularly.
Anticipated cash flow is what allows any business to function in a competitive market. Many believe that expansion is the biggest
risk for a business, but in fact, it’s a lack of working capital that sinks many companies – and that can be due to ineffective
accounts receivable (A/R) processes. Effective A/R and credit control allows you to get paid faster, which in turn means that you
can pay your own suppliers faster. This results in avoiding late payment fees, improving your own credit rating and gaining more
opportunities to invest in the growth of your business.
Accounts receivable (or credit control – as it’s often referred to) involves getting customers to pay for your goods or services in a
timely fashion. It sounds so simple. In a perfect world everyone would pay exactly when they’re supposed to. You’d never have
to spend a minute chasing or managing relationships with customers’ accounts departments. But if 2020 has taught us anything
it’s that we don’t live in a perfect world. In reality, our customers often have the same cash flow problems as us. It’s often a juggle
between ensuring smooth relationships and putting pressure on to be paid what you’re owed when it’s due.
Chaser saves you time you’d otherwise spend on manual tasks, whilst maintaining great customer relationships.
The software integrates seamlessly with your chosen accounting system to let you automate your invoice chasing without
losing the human touch and optimise your receivables process.
Chaser provides all of your customers with a dedicated payment portal containing all information on their paid and due invoices,
enabling faster payments and saving you significant time on admin
Contact one of the team for more information