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Improving credit control?

Question asked by Andrew

My company is having a difficult time with credit control. Where can we turn for help?

response from John Englund

Managing credit control is a big job, and not all companies can afford to dedicate internal resources to doing it right. Fortunately there are many firms in the UK that offer varying degrees of help, from relatively inexpensive software packages to full blown outsourced credit control services. For sole traders and companies with only a few employees it might make sense to hire an external credit control outfit even if your customer list is not very long. If you run a larger organisation you could dedicate one or more employees to credit control work, but that means they're not available for other, more productive work. So it still might make sense to outsource even if you have the resources to handle it yourself. In any case, struggling with delinquent customers and suppliers can be a wasteful use of staff time and also drag down your balance sheet. Why not hire a professional and get back to focusing on your core competencies? Start by comparing offers from credit control service providers. 

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