How can the use of trade credit management services help a business with their cash flow?
There is a lot of talk of outsourcing of services but credit management is a strategic process, not a pure cack office function. By all means outsource some processes but business leaders need to set their own strategy and policies. Once that is done there are many support services available to help businesses trade safely and profitably on credit. All of these services should be assessed on the bottom line impact, not on cost alone. The range of services include: • Credit information: To ensure you offer the right level (if any) of credit & therefore the greatest chance of being paid on time. • Receivables management / debt collection: Outsourced management of your sales ledger – from invoicing to debt collection – to experts you may not have in house and/or at a cheaper cost. • Credit isurance: To ensure you offer the right level (if any) of credit & therefore the greatest chance of being paid on time. Payment of what you are owed if your customer fails. The option for debt collectio
