Effective and efficient credit control is critical to the success of any business, reducing the wait for payment and improving cash flow. However, not all businesses have the time, resource or expertise to dedicate to successful credit management.
Lackfords confidential credit control service will assume the responsibility for this vital function, allowing you to spend your time focusing on your business, safe in the knowledge that your credit management is in the hands of experts.
Benefits of outsourced credit control
- Regain the time to focus on core activity and growing your business
- Get paid sooner and improve cash flow
- Plan ahead and budget more accurately
- Avoid the costs associated with recruiting, training and retaining employees
- Reduce need for additional funding, saving you money on borrowing fees
- Peace of mind that your credit control is in the hands of the experts
- Preserve customer relationships
- Access to advice and guidance on the occasions an invoice becomes overdue
What does our credit control service involve?
- Pre-due date verification calls or emails to confirm receipt of invoices, determine expected payment dates and pick up on any disputes
- A series of confidential credit control calls, emails and letters for due balances
- Monitoring of lapsed verified payment dates with follow-up phone calls
- Escalation to nominated client contact for query and dispute resolution
- Further communication where necessary to secure payment
- Escalation to issue Letter Before Action
- Ongoing visibility of our performance through in-depth reporting and a dedicated credit controller and account manager
- Trial periods available
What do we charge?
We have flexible charging structures to reflect each client’s specific needs in order to deliver focused outcomes. View our fees page here.