Paper Mountain Solutions Limited

Scaling new heights for your business through effective outsourcing…..

Telephone

0844 826 0579

Credit Control

Paper Mountain Solutions Limited

Scaling new heights for your business through effective outsourcing…..

Telephone

0844 826 0579

What is credit control – a definition

Credit control is the process of control over payments coming into and going out of the firm. It is mainly concerned with the firm's creditors (people who the firm owes money to) and the firm's debtors (people who owe money to the firm). Tight credit control is important if a firm wants to avoid cash flow problems.

Source Data Inter Connect

Paper Mountain Solutions Limited

Scaling new heights for your business through effective outsourcing…..

Telephone

0844 826 0579

Why I am qualified to talk to you?

• Managed insurance companies, highest premium income circa £100 million

• Credit risk underwriter for Lloyds Insurance Agency, analysing debtors / creditors

• Running my own businesses for seven years

• Paper Mountain Solutions providing credit control for 5 ½ years to clients

Paper Mountain Solutions Limited

Scaling new heights for your business through effective outsourcing…..

Telephone

0844 826 0579

Areas for consideration

• Customers

• Suppliers

• Outsourced credit control

• What if it goes wrong – your debtor can’t pay

Paper Mountain Solutions Limited

Scaling new heights for your business through effective outsourcing…..

Telephone

0844 826 0579

Customers

Invoice Structure

Payment Terms

Bank Details

Early Settlement Discount

Retention of Title

Dispute Notification Timeline

Terms and Conditions

Collection Process

Credit Check

Clear Outline of Product / Service Sold

Paper Mountain Solutions Limited

Scaling new heights for your business through effective outsourcing…..

Telephone

0844 826 0579

Collection Process – suggested!

1st day Invoice issued

14th day Issue statement detailing due dates

28th day Phone customer, confirming due date

30th day Issue chaser letter advising overdue account

35th day Phone call and issue a letter

40th day Phone call and issue stop notification letter

45th day Put a stop on the account

Paper Mountain Solutions Limited

Scaling new heights for your business through effective outsourcing…..

Telephone

0844 826 0579

Suppliers

Pay to their terms – you expect to be!

Set a particular date each month, obtain a creditor listing and settle the debts

Consistent payment patterns keeps the suppliers happy

Paper Mountain Solutions Limited

Scaling new heights for your business through effective outsourcing…..

Telephone

0844 826 0579

Outsourced credit control

Specialist credit control companies

Invoice discounting

Factoring

Credit insurance

Paper Mountain Solutions Limited

Scaling new heights for your business through effective outsourcing…..

Telephone

0844 826 0579

What if it goes wrong – your debtor can’t pay

Maintain contact

Payment plans

County court judgements

Winding up

Paper Mountain Solutions Limited

Scaling new heights for your business through effective outsourcing…..

Telephone

0844 826 0579

Any Questions?