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It’s very common for most businesses to sell their products or services on credit. Business owners think that their customers/clients will pay them eventually. Now three things can happen in a credit sale – either your customers will pay you on time, they’ll get behind with their payments or you’ll be a victim of ‘Customer Insolvency’ and therefore, they won’t pay you at all! The latter two scenarios can have dire consequences for your business as they affect your business’ cash flow very badly. That’s why maintaining a low ‘Average Collection Period’ is desired by all businesses, since this indicates that it doesn’t take you too long to convert your receivables into cash. So to collect your credits quickly; you’ve probably tried sending reminder letters or statements to your customers. But they have all been in vain so far. And you also don’t want to push your customers too hard because this might jeopardize your valuable business relationship with them. So what to do?!

There are specialised Credit Control Service providers like 'My Virtual Resource' that can take your stress away. How? They are very good at collecting your credits without putting your business relationships at risk. They chase up outstanding payments for your business. They call up saying they are from your company’s accounts department; keeping it friendly and a healthy relationship with the clients. They also provide a dedicated call back number should your customers want to call back.

Services like these are very helpful; especially for small businesses. Many small businesses have big clients and pushing those clients for outstanding payments is rather agonising from a small business’ point of view. But at the end of the day, small businesses also need cash for paying off their own expenses. So if you own a small business and you’re having issues with your outstanding payments, you can simply implement an outsourced credit control service; because their sensitive and effective credit collection techniques keep both your cash flow and customer relationships under control. This way you won’t have to worry about your credit control and you’ll have more time to focus on your core business. Moreover, credit control service providers offer a personal yet professional approach of getting in touch with your debtors that is way more effective and fruitful than your traditional reminder letters. So outsource your credit control to 'My Virtual Resource', be stress-free and keep your cash flowing!

 

By Janine Kirkland

 

For further details on our service please contact

janine@myvirtualresource.co.uk

Tel – 020 8234 6104

Written by:

Janine Kirkland

My Virtual Resource


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