Effective credit control is an important aspect of running a successful business and one which often takes a back seat to other work pressures. Businesses of all size suffer the same problems of constantly moving resources around or not having sufficient resource or systems to ensure good practice in credit management is maintained. A lack of focus in the collection process can cause a loss of momentum ultimately slowing down payments, extending the age profile of book debts and leading to higher bad debt write off. This is one of the principal factors to escalating debt balances and can easily be avoided by outsourcing your sales ledger management to a specialist organisation.
At Controlaccount we understand how difficult maintaining focus in the credit control process can be. That’s why our outsourced credit control team dedicates time and expertise to your business’ credit management to improve cash flow and reduce the real cost of ensuring a consistent approach, leaving you time and the resources to focus on developing your business.
Key Features of the Service:
Taking Back control - The impact of late payment puts pressure on business cash flow, increases cost and is resource intensive. By taking back control and putting in place proactive credit management processes you will keep cash flowing. Outsourcing this function can be a big step but selecting the right service provider can have a positive effect on your business and where properly understood and carried out it should support new sales, customer service, cash flow , repeat sales and internal efficiencies. Controlaccount makes the process straightforward providing easy to use software for you to monitor progress and experienced well trained staff that will continue to represent your business with all the care and attention you would expect from your own employees.
Our Service - Tried, tested and designed for UK business, we will work with you to develop a service offering that is right for your business. This can include:
With almost 40 years of experience of serving large and small businesses across the UK, Controlaccount has a modern technology driven infrastructure which managed by highly expirenced personnel.
Why you should consider Controlaccount to manage your credit control functions:
Costs - Our credit control service is priced according to the size of ledger maintained and the level of service you require.
There is also a one-off technical set-up fee which includes:
Outsourced Credit Control - Gives you back the time to focus on core activity and developing your business, ensures that you get paid sooner and improves your cash flow providing the ability to plan and budget more accurately. The service also enables you to reduce the costs associated with recruiting and training employees especially during periods of holidays or sickness and gives you peace of mind that your credit control is in the hands of the experts.
We would be happy to arrange a visit to your premises and provide case studies of how we have worked with leading firms to drive credit control efficiency, solve back office problems and reduce costs. Speak to our New Business Team to find out how Controlaccount Plc can benefit your business by providing a more streamlined approach to your back office functions. Call 01527 549 522 or email sales@controlac count.com
Days Sales Outstanding or DSO is a calculation used by a company to estimate their average collection period and measures how well a business accounts receivables are being managed and how efficient credit control departments are performing. The lower the days or ratio, the better it is for your business. If your business has a high days sales ratio, you may struggle to convert sales into cash flow. Try our calculator to find out how many days you are financing your customers.
From experience, we understand "Best Practice" for DSO within UK industry sectors.
You can compare your own DSO to this: