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Debt recovery options?

Question asked by RIchard
Question

My cash flow is being dragged down by late-paying suppliers, but my staff is too small to dedicate anyone to pursuing overdue invoices. What are my options?

response from John Englund

There are many credit control services providers on the UK market offering a variety of solutions for companies of all sizes. If you run a small business and have no internal credit control department you can either hire a full-service provider or make a modest investment in debt recovery software. If you cannot afford the full-service option, then the second option is probably best. Compare offers from credit control software providers and choose a package that will allow one of your staff members to chase outstanding invoices on a part-time basis.  

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