Else Solicitors sponsored a revealing round table debate at the Eight Club Bank in London this month.
Hosted by Stephen Keily from CCR Magazine, the premier magazine for consumer and credit professionals, the debate was around a subject close to the heart of every business. Namely, how to make the process from a customer placing an order to money appearing in the supplier’s bank as smooth and efficient as possible.
It particularly looked at the role credit professionals have in influencing the way sales are made and orders taken to ensure swift payment and avoid bad debt. A key conclusion was that while credit managers are under-used in smaller UK businesses, they are well placed to influence the key processes as well as how to transact business and who to do business with.
Chris Else, Managing Partner of Else Solicitors, said “Any company, with the right system, procedures and terms of business in place, can make major cash flow improvements, minimise bad debt and resolve issues with customers before they get worse. With Brexit and the current economic situation, these things are more important than ever. This debate gave us an invaluable insight into how Else can continue to deliver first class debt recovery and dispute resolution services.”
What We Do Best
Prevention is better than cure especially with late and bad debts. It might be impossible to avoid these completely but you can greatly minimise your risk of late payment and your exposure to bad debt.
This is done by having and following a rigorous credit control process and ensuring that you have a clear set of Terms and Conditions in place.
Else has over 25 years’ experience in helping credit managers and financial controllers to identify best credit control practice and supporting them with debt recovery, including pre-legal and court action when needed.