The UK business sector is universally recognised as having an incredibly slow payment culture.
The UK Government have taken steps to try and adjust the risk with the Late Payments Act which provides for interest on overdue invoices and changes in the court procedures to make that process more speedy.
Credit control is about controlling risk, the risk of non-payment and the risks associated with late payments, the risks of opening some accounts, while at the same time keeping good customer relationships. These are the main problems inherent in the late payment culture – how to get your money while keeping good customer relationships.
Credit Control comes as part of the service we provide you with.
We will update the Sales Leger and reconcile the Sales Control Account and give you a list of your debtors every month.
We will act on your instructions to chase all monies due.