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Credit Control Tips (Part 2)

Having an effective credit control mechanism is now more important than ever. A recent study by the Small Firms Association found that over 60% of small firms have had to resort to other forms of finance due to the adverse impact on cash flow caused by late payers. The study also found that invoices issued by small Irish firms are now taking, on average, 66 days to get paid. Late payment problems aren’t... [Continue reading]

Credit Control Tips (Part 1)

The survival and prosperity of all small, medium and large businesses is dependent upon receipt of payment from customers in respect of the product and services that the business provides and invoice for.  It is not sufficient to secure the sales order and provide the product if that sale cannot be converted into cash. Cash is the lifeblood of every business and if debtors don’t pay outstanding... [Continue reading]

Improve your Credit Control Procedures

Some businesses have slow-paying customers or past due balances because they didn’t “train” their customers in the beginning. It is important that your customers know your credit policy and/or terms of payment before they become customers. Reiteration of your credit policy, when payment is overdue, is a good step to take in trying to obtain payment. Always ask for payment when it is justly due. You... [Continue reading]

Eurodebt Debt Collection Ireland