Sometimes, businesses fail. If a failed company is a customer of yours it can be an expensive and potentially disastrous situation. In most cases their will be little you can do, except wait and see if any money is left Continue reading
At some point in the life of every business they will face difficulties in getting a client to settle an invoice. Now you are faced with the very real prospect that this unpaid invoice may become a bad debt and Continue reading
Cashflow is the very lifeblood of your business, if it runs low a business will struggle to continue. If it runs out it will cause a corporate “heart attack” and kill even a profitable business stone dead. So what can Continue reading
“A sale is not a sale until the money is in the bank” A simple sentiment, but one that can often be lost in the thrill of securing that next big sale. But when the agreed upon payment day passes Continue reading
If you extend credit to your customers you are effectively providing finance to them for the credit period. If your business does not have the cashflow to support the credit it has extended you could be just one bad debt Continue reading
Credit Insurance can be a valuable tool in a company’s credit control armoury and recent years have seen an explosion in availability of different types of cover. From traditional Whole Turnover to Catastrophe or Single and Multi Buyer cover brokers Continue reading
When it comes to cashflow, it isn’t just about ensuring your invoices are paid on time. It encompasses the entire flow of money in and out of your business and covers your businesses dealings with your own suppliers. So do Continue reading
Invoicing is an integral part of every business, so taking the time to ensure that your paperwork really works for you is often a wise investment. In part three of the Managing Cashflow guides from the ICM and BIS you Continue reading
After ensuring your company really knows your customer, knowing when you can expect your invoices to be paid is the next step in an effective credit control process. Agreeing payment terms in advance helps to ensure both parties accept and Continue reading
One of the single most important aspects of effective credit control in any business is ensuring that you know exactly who you are dealing with, before any credit is provided. If you don’t know who your customer is, it is Continue reading