Cash Flow is the lifeblood of any business. If left unchecked, your customers payment and credit terms could become a major issue. Here are just a few signs which may indicate that you need the help of a debt recovery company.
The Electrical Machinery Manufacturing industry is refuted to be worth £7bn and has been growing at a rate of 2.5% in the last 4 years. With many large businesses ceasing to trade and late payment becoming a huge issue it is crucial that your business has a robust credit control process in place and know where to turn whenever internal processes of recovery are exhausted.
We have recovered...
Today, many companies are forced to write off thousands of pounds of bad debt every year due to late payers. Small Businesses and sub contractors wrote off a whopping £2.8bn last year in the construction sector alone according to Bibby Financial Services.
Sometimes recovering payments for goods or services can become complex, especially when there are disputes over invoices, contracts or works completed. After months of going forwards and backwards you can often find yourself in a deadlock situation. These situations are often stressful, draining and time-consuming period for any business.