BLOG« Go BackWhy is credit control more than just being paid?
Credit control is far more than just getting paid. In fact, every business should see credit control as an opportunity to build and maintain an existing customer relationship. Think of credit control as an early warning of customer complaints, since non-payment can often be due to fixable problems. The sooner you deal with these problems, the more chance you have of retaining a valuable customer.
In large companies designated in-house accounts staff perform this credit control function. (These companies have the resources and larger number of debtors to justify this cost). However, in small to medium sized businesses, the credit control function can often be left up to an office person, salesperson or the owners themselves. This takes up valuable time that could be spent on other areas of the business.
Effective credit control is increasingly becoming a priority for small businesses. Some larger business companies are choosing to extend the time they take to resolve outstanding invoices in contraction to an agreed time frame. This is having a serious impact on SME's.
Business owners are sometime reticent to persue larger customers for late payments for fear of losing their business relationship. So why not let credit control experts take care of this relationship building skill? We will be non-aggressive, yet assertive since most customers only need a gentle reminder that their payment is overdue.
What's the difference between credit control and debt collection?
You might be thinking, "Isn't this debt collection". The difference is this:
"Credit control is a customer relationship-building tool. Debt collection is relationship destruction".
It's our primary aim to reduce the need for, and therefore the cost of debt collection by early and regular contact with your debtors.
ECCM offers a debt collection service that will maintain your relationship with your customers and ensure that the situation is maintained at a win-win situation for both parties. We can manage the account from beginning to the end. The current status of the account is tracked at all times, allowing us to determine the correct course of action at all times. Automated reminders are sent to the debtor reminding them to honour their commitments.
Let ECCM turn all your debt problems into solutions that suit you best and get rid of all your worries.
So why not let ECCM take the load off you? You know you want to...