This document discusses credit control and outsourcing credit control to specialist companies. It defines credit control as the process of controlling payments incoming and outgoing from a firm to manage creditors and debtors. It then discusses areas to consider for effective credit control, including customers, suppliers, and what can go wrong if a debtor cannot pay. It provides suggestions for a collection process and emphasizes maintaining contact if a debtor cannot pay.

1. Paper Mountain Solutions Limited Scaling new heights for your business through effective outsourcing….. Telephone 0844 826 0579 Credit Control

2. Paper Mountain Solutions Limited Scaling new heights for your business through effective outsourcing….. Telephone 0844 826 0579 What is credit control – a definition Credit control is the process of control over payments coming into and going out of the firm. It is mainly concerned with the firm's creditors (people who the firm owes money to) and the firm's debtors (people who owe money to the firm). Tight credit control is important if a firm wants to avoid cash flow problems. Source Data Inter Connect

5. Paper Mountain Solutions Limited Scaling new heights for your business through effective outsourcing….. Telephone 0844 826 0579 Customers Invoice Structure Payment Terms Bank Details Early Settlement Discount Retention of Title Dispute Notification Timeline Terms and Conditions Collection Process Credit Check Clear Outline of Product / Service Sold

6. Paper Mountain Solutions Limited Scaling new heights for your business through effective outsourcing….. Telephone 0844 826 0579 Collection Process – suggested! 1st day Invoice issued 14th day Issue statement detailing due dates 28th day Phone customer, confirming due date 30th day Issue chaser letter advising overdue account 35th day Phone call and issue a letter 40th day Phone call and issue stop notification letter 45th day Put a stop on the account

7. Paper Mountain Solutions Limited Scaling new heights for your business through effective outsourcing….. Telephone 0844 826 0579 Suppliers Pay to their terms – you expect to be! Set a particular date each month, obtain a creditor listing and settle the debts Consistent payment patterns keeps the suppliers happy

8. Paper Mountain Solutions Limited Scaling new heights for your business through effective outsourcing….. Telephone 0844 826 0579 Outsourced credit control Specialist credit control companies Invoice discounting Factoring Credit insurance

9. Paper Mountain Solutions Limited Scaling new heights for your business through effective outsourcing….. Telephone 0844 826 0579 What if it goes wrong – your debtor can’t pay Maintain contact Payment plans County court judgements Winding up

10. Paper Mountain Solutions Limited Scaling new heights for your business through effective outsourcing….. Telephone 0844 826 0579 Any Questions?