Credit control Q&A’s every business owner should know

  • 05, 25, 2017
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  •  Family Health 
  • When you run a small size business where you have to sell different products or services to all sorts of people, chances that customers will not pay for the ordered products in due time are quite high. Competition is extremely high in every industry nowadays, so making people trust your company gets even more complicated. When you are dealing with bad-paying customers, it is best you seek for a credit control company in London. Even though you own a small company and you are on a tight budget, outsourcing your credit control functions will be your best move, this is for sure.

    Are credit control companies reliable?

    Many people doubt the reliability of credit control companies and they believe that they can simply hire someone in-house to have this work done, but things are not that easy. Hiring someone in-house implies a lot more costs for recruiting and training sessions compared to the money you would have to spend by outsourcing the services to a professional company. The number of agencies providing credit control services is quite high, so if you do your research well, you will end up working with a reliable and professional agency.

    How do I know I chose the right credit control company?

    You will immediately notice the differences between a mediocre credit control company and a trust-worthy one. First things first, a professional company operating in this domain has vast experience and highly trained agents that know exactly what to do in order to recover money from bad-payers. Transparency is the main priority for a reputable credit control company. They will have no problem in telling you up front the final price you will have to pay for the services they provide you with, as well as put you up to date at every step they follow throughout the process of recovering money.

    What strategy do agents apply?

    When it comes to the strategy agents apply to recover money from customers, know that this varies from agent to agent. It is best you discuss with them about this aspect from the very beginning in order to get a clearer idea on how they will do their job and to ensure that none of your existing customers, not even the bad-paying ones, will not be affected by this process in any way.

    How much does it cost to outsource credit control functions?

    Pricing is essential, this is for sure, but you should not make it the main selection criteria. Do some online research and look for a credit control company that fits within your budget.

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