In Focus Commercial Credit
Are your sales team selling the goods or
services as they should be? Are they using up-to-date and correct pricing, and liaising with operational colleagues? Are internal systems used for order
processing and invoicing up-to-date, and regularly checked? A collaborative internal approach is required to maximise sales and collections. Get the invoicing process correct. Simple
things to look out for are as follows: l Is the correct company, or entity, being invoiced? l Is a purchase-order number required? l How are invoices to be delivered? All of these affect the collectability of the invoice and, in turn, profitability. In a
Business of all sizes suffer delays to cash collections, because of a myriad of queries; these can be easily resolved or more time consuming and involved to deal with. Either way, every day that is delayed in solving those queries, is costing the business money
recent case, we saw hundreds of thousands of pounds held up for payment due to invoicing errors – this could have easily been avoided by putting a simple process in place.
Inevitable queries No business can get it right 100% of the time, and so queries are inevitable. When a query comes in post-sale, deal with it, and quickly. Attribute responsibility within the business
and make people accountable, with clear escalation procedures in place, and, most of all, work as a team. After all, neither sales nor operations can function without each other. CCR
Business 2 Business Debt Recovery
Are slow payers giving your business that sinking feeling? Are they telling you porkies?
Collect My Debt Limited can help save your bacon! You work hard for your mone
0800 612 5161
info@collectmydebt.co.uk
www.collectmydebt.co.uk /cmdenforcement @cmdenforcement
April 2018
www.CCRMagazine.com 19
ou work hard for your money – l le us help collect it promptly
et us help collect it promptly
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