Our Top Ten Tips
(1) Draw up a credit policy and ensure all sales and financial staff understand it
(2) Verify a customer's credit worthiness before doing business
(3) Understand your major customers' payment cycles
(4) Agree payment terms in writing
(5) Offer incentives for prompt payment and be prepared to negotiate with suppliers
(6) Issue polite reminders
(7) Offer a wide choice of methods of receipt
(8) Separate the collection and sales functions
(9) Understand and be prepared to invoke the Late Payment of Commercial (Interest) Debts Act 1998
(10) Always take action
For more information on how you can put these policies into action and a copy of Sobell Rhodes free "Cash Flow Maximiser" contact us on 020 8624 6464 or e-mail us now!