Credit Management Consultation
Having a working debt recovery solutions provider is merely the first part of effectively managing the accounts receivable area of your enterprise, and it is in fact the last solution, after all methods have failed. Just like preventative medicine is better than curative, an effective management system for your accounts receivables can eliminate or at least drastically reduce the occurrence of bad debts and long overdue repayments.
Credit management consultation is about effective implementation of systems and tools to effectively manage your accounts receivables in the future. It may include such aspects as obtaining credit information before extending credit facilities to customers for your goods and services among others.
At debtcollect.com.sg, we provide consultancy services to help businesses set up these systems, so that they can achieve self-sufficiency as far as credit management goes, only requiring professional assistance where all other system tools have already been applied with no success. We will also give you useful tips to apply towards your own business debt management system and how best to handle overdue payments and credit extension to clients in order to ensure you have legal recourse to recover your monies legally.
With a working credit management system, the likelihood of incurring bad debts and ineffective debt collection occurrences will be drastically reduced. In addition, old and new clients will understand that you take your accounts receivables very seriously, thus are discouraged to slack off on repayments. Also, come collection date, having the policy in place will ensure that clients will not view your debt collection measures as an attack to them, but rather as a self-preservation measure whose existence they were aware of before they signed on to receive credit from your business.
At debtcollect.com.sg, we have amassed enough years of experience to help businesses implement credit management solutions that they can effectively manage for themselves in our absence to prevent crises situations from developing owing to accumulation of outstanding debts.
Such measures include:
- Generation of sales agreements outlining collection dates and measures to be implemented in case clients do not make good by said times. Once they are aware beforehand, there should be no ill will if you have to implement certain measures to recover debt amounts through necessary legal means.
- Running credit check prior to extending credit on businesses and individuals.
- Proper invoicing systems with automated reminders as and when collection dates fall due.
- Measures to handle unsettled debts once they have fallen due.
Contact us today for a personalized credit management solution.