CCI Legal Services Ltd.Credit Control – Expert Advice on how to improve your credit control.

Presentation Content. Initial contact – Taking and Receiving a New Order. Purchase Orders. Courtesy Service Telephone Call. Invoices and Statements. The Reminder Letter. Telephone Call. Debt Collection.

New Order. Your Payment Terms. As well as discussing with all new clients talk with your suppliers YOU SHOULD ALSO INCLUDE YOUR RIGHT TO MAKE A LATE

PAYMENT AND INTEREST CHARGES Ask to sign and date your terms. CREDIT CHECK. Are you dealing with a Sole Trader or Partnership. DO NOT BE AFRAID TO PUSHFOR ALL THE INFORMATION YOU

NEED – IF YOU DON’T GET IT AT THE START IT IS HARDER AT A LATER STAGE.

WRITE A CREDIT POLICY – That you and all your employees should follow. With No Acceptations.

Purchase Orders. Does the value shown agree to that of your quote. Does the description of goods or service agree to your quote. Is there any small print showing their payment terms differing

from yours. Does it come from the same customer name, or is it from

another entity. DO NOT ACCEPT IT IF ANY OF THE ABOVE DO NOT

AGREE – GET IT CHANGED!

Courtesy Customer Telephone Calls. Call to inquire about the level of satisfaction. Call the Accounts Department “If Different”. Highly Professional. Customer Service “Important From Beginning to End”.

Invoicing. Clear and Concise Layout. Customer Order Number. Date, Reference and Total. Good Layout for the Description of Goods. Method of Despatch. Bank Details. Clearly show your Payment Terms. Include your Right to make Late Payment and Interest Charges. ALWAYS INVOICE THROUGHOUT THE MONTH NOT JUST AT

THE END OR THE BEGINNING BECAUSE THIS WILL IMPACT HEAVILY ON YOUR CASH FLOW.

Statements. Eye – Catching Appearance ( Colour and Layout ) Highlight Overdue Items dramatically. Print variable messages about Overdue items. Encourage your clients to send back your Statement, or have

a tear off part of it, with the payment to make matching easier.

Reminder Letters. Address to a named individual, Otherwise Job Title. Sign It Personally. Show a job title with Authority. Show a Phone Extension. Keep words simple and direct. Never more than one page in length. Amount Due – Prominence at the top of the letter. Only one Final Letter/Demand. ALWAYS DO WHAT YOU SAY,WHEN YOU WILL.

Collecting By Telephone.

Preparation. Control the conversation. Always confirm the Method of Payment promised. Always read back the main points making sure you have

taken the information correctly. Make a Diary Note to follow up. Keep this with a record of all

collection activity, it will be vital later. Has the Customer confirmed Receipt of the invoice? (See

Courtesy Call).

Debt Collection.Third Party Collections. Always consider outside help to collect difficult debts before they become

write offs. What is the growing cost of you chasing these debts. I. E Lost time, Lost

Sales, Lost Revenue, Bad Client Relations, Bank Charges, Interest Etc. In Experience of Bookkeepers – (Not Credit Controllers) Someone good

on the phone, you Personally. Independent Collection Agencies are without a doubt the most Accessible

and Economically effective Third Party Collection Assistance Available. USING AN AGENCY AS AN EARLY LINE OF ATTACK ON BOOK DEBTS

MAKES SOUND COMMERCIAL SENSE CHOSEN WISLEY THIS NOT ONLY ASSISTS IN IMPROVING CASH FLOW,BUT ALSO IN KEEPING VALUED CUSTOMERS INTACT,WISER THAN BEFORE AND PROBABLY LESS LIKELY TO DEFAULT IN FUTURE!

CCI LEGAL SERVICES

Huw Williams Business Development Manager at CCI Legal Services says “This presentation is a great way for companies to fast track your Credit Control Function into a most profitable process and to safeguard your business against unpaid invoices, for a free copy of the notes that go with the presentation please email me at huw.williams@ccilegal.co.uk.