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The benefits of implementing a ‘Two Supplier’ strategy

For many businesses, the idea of using a single outsourced supplier to assist with credit management remains a relatively new concept, let alone using two. But the ‘Two Supplier’ strategy can have significant benefits in creating choice and flexibility, improving quality, strengthening contingency plans and competitive pricing.

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How late payment affects the cash flow of your business

As most business owners and CFOs know, cash flow is the life blood of a business. Without cash flow a business will cease to exist. It is therefore important for all businesses, large and small, to manage their cash-flow effectively. One common threat to cash flow that many credit controllers will recognize is late payments, which can do significant harm to a business. Here, we look at why cash flow is important and how cutting down on late payments can help improve things.

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What is the Liquidation Process Carillion is Currently Going Through?

On Monday 15th January 2018 the news broke that Carillion, the giant construction firm and government contractor, was going into liquidation. Unlike the process of administration, where the company in question is able to continue trading whilst viable parts of the business are sold off in an effort to ultimately stay afloat, liquidation means a company ceases trading immediately and steps are taken to raise as much money as possible  to settle its debts.

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How Did Some Carillion Suppliers Avoid Writing Off £290k of Bad Debt?

On 15th January 2018, construction giant Carillion announced they were going into liquidation, putting 43,000 jobs at risk worldwide and leaving a large number of sub-contractors and suppliers out of pocket.

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6 Steps Your Business Can Take to Protect Cash Flow over the Holidays

Businesses face a unique challenge when it comes to cash flow during the months of December and January as many companies close their doors between Christmas and New Year's Day, so payment of invoices are often not processed until mid to late January. This delay in payments can put a huge strain on businesses that have to pay tax, VAT and rent during this period.

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Debt Reminder Letters - The Best Approach

If you consider yourself the kind of business that dreads having to deal with customers or clients who have an outstanding account or an unpaid bill that needs collecting, trust me, you’re not alone.

No one likes to risk destroying customer goodwill by having to demand payment, but in many cases, there is no other option.

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6 Considerations You Should Make When Filing a Debt Claim

You get to the end of your credit control procedure and you still have some unpaid accounts, so, what are the options?

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6 Questions To Ask When A Customer Says They Didn't Receive An Invoice

As a credit controller in your company, you probably have more than enough tales to tell about debt recovery. Even so, you may finally run into situations that you haven't before. If you're still fairly new to your job, one scenario you may encounter involves a customer giving an excuse for not paying their invoice on time.

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4 Tips For Hiring A Debt Recovery Firm

It happens in every business and in every industry - debt recovery. Clients and customers pay invoices late and even former employees might fail to pay back overpayments to them. You’ve called. You’ve emailed. You’ve sent letters through the post. Nothing works. It’s at this point that businesses should begin considering turning to a debt collection firm.

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Credit Control: Effectively Managing Business Debts

When you are the designated expert and responsible for managing vital unsecured Domestic and International debt: How can you do everything in your power to make sure these customers are paying on time? How can you ensure there is better credit control in these business relationships?

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How a Good Debt Collection Partner Will Grow Your Business

Running a business involves overseeing diverse business operations, including sales, marketing, HR and benefits, accounting, customer service, risk management, and business development.

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Don't Let Aged Debt Haunt Your Bottom Line

Whether you are a business owner, accounts receivable manager or credit controller tasked with pursuing unpaid debt, it can be a nuanced and challenging endeavor.

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