Managing credit involves:
By implementing effective credit management strategies, businesses can optimise their cash flow and ensure long-term success. Don't wait until it's too late - take proactive steps to safeguard your business against financial risks.
Late payments and defaults are common. Minimising them is critical for financial health. A commercial credit management system is crucial for avoiding survival risks.
Credit control and debt management are crucial for your small business, as 20% of bankruptcies are due to customers not paying invoices, which can harm creditworthiness. It ensures that the company deals with the correct customers on the appropriate terms and collects payments on time to operate.
Depending on your challenges and priorities, we can assist with the following credit resource solutions:
By employing effective credit management procedures, you can help your business bring in the revenue it’s entitled to and ensure long-term business continuity.
CoCredo can connect you with a team of experienced credit resource experts who can help you manage and improve your credit management performance. Our partners have worked with UK and international companies - from start-ups to Fortune 500 firms across different industries - and have experience offering in-house assistance or as an outsourced option.
They can help you design tailored solutions for your short- and long-term challenges and provide support throughout their implementation.
Additionally, you have the option of a virtual credit director arrangement.
Implementing credit management can boost profits by eliminating late payments, enhancing cash flow, and decreasing Days Sales Outstanding (DSO).
It also provides access to more liquidity, allowing for intelligent business investments and acquisitions while creating a more professional corporate image. If we cannot offer a credit resource solution directly, our network of partners can assist you.
Contact us at 01494 790600 or send us an email to learn more.