This is one of the core challenges we help businesses with every day.
The first step is to check whether the people and companies you do business with are creditworthy. Before dealing with them. That way, you significantly reduce bad debts.
Once you have approved a client, set them a credit limit and make sure they don’t exceed it. Stay on the look-out for potential early warning signs of future payment problems, including:
- change of payment method (e.g. moving from bank transfer to payment by cheque or cash),
- new bank details, which can suggest problems with previous banks,
- frequent changes of address
We are experts in reducing your risk of non-payment and maximising liquidity: we get your cash fast while keeping your customers on side. We can help in a way that suits you.