Many companies choose not to outsource their credit control in any way in order to make financial savings, but does this really work?
I recently spoke to a small business owner who proudly told me that he didn’t employ anyone to do his credit control and that he did it himself thus making massive annual savings. I proceeded to ask him how many days a month he spent on this particular task, to which he replied two! I then asked him how much his normal day rate was within his specific trade, to which he replied £750.00!
I then suggested that by doing this he was potentially reducing his monthly income by £1,500.00 and annually £18,000.00. He, after a moments consideration, commented that perhaps this wasn’t the cheapest option but gave him greater reassurance about his companies financial welfare.
What did I learn from this? Well primarily small business owners are reluctant to invest money in credit control as they see it as a cost rather than an investment. Secondly business owners don’t really appreciate the real cost of their time. Finally small business owners want to feel in control, live and die by their own sword, sometimes at their company’s detriment due to their reluctance in delegating tasks.
The ICE PACC credit control and collections system is a cost effective tool for business users to use that will save your time, and money.
At 41p per day, per client this unique online collections systems key features include, credit risk rating, comprehensive terms for your client, online credit control system, red letter service and free pre legal recovery that levies all costs at the debtor not you.
So when counting the true cost of your credit control, consider using ICE PACC in order to help grow your business and reduce your costs.
For more information please contact us at info@icepacc.com
Friday 11 March 2011
Friday 4 March 2011
Thank ICE PACC its Friday
For small businesses Fridays can be the most stressful day of the week. Traditionally Fridays are wages day and therefore you need to ensure that sufficient funds are in your account to cover the cost of your wages. Whilst your business balance sheet may be in order your cash flow might be suffering due to late payments.
Late payments can have a horrid effect on a business in the short term and whilst you are confident that you will receive the monies in the long term this does not help you with the immediate lack of funds. Therefore you scrape and borrow sufficient monies to cover your costs in the vain hope that Monday will be a brighter day. At the same time you promise yourself that you won’t allow your business to be in the same situation again in the future, well not until next Friday at least!!
Plan your cash flow and ensure that your credit control policy protects you from the opportunity of late payment.
Quite often late payments are due to the creditor’s reluctance to ensure that their customers pay on time. Whether it is because they don’t want to have an awkward conversation or alternatively don’t want to upset the customer, in case it has a detrimental effect on future business. However this may, as a result of the immediate constraints on your cash flow, prevent your business from being able to trade and thus cause its ultimate demise.
A comprehensive credit control management policy can prevent this from happening to your business. The ICE PACC is a unique online credit control tool that incorporates a host of unique functions including free pre legal recovery. The system is based on ensuring that your credit control process assists your cash flow and prevents bad debt
For further information about the ICE PACC contact us at info@icepacc.com
Late payments can have a horrid effect on a business in the short term and whilst you are confident that you will receive the monies in the long term this does not help you with the immediate lack of funds. Therefore you scrape and borrow sufficient monies to cover your costs in the vain hope that Monday will be a brighter day. At the same time you promise yourself that you won’t allow your business to be in the same situation again in the future, well not until next Friday at least!!
Plan your cash flow and ensure that your credit control policy protects you from the opportunity of late payment.
Quite often late payments are due to the creditor’s reluctance to ensure that their customers pay on time. Whether it is because they don’t want to have an awkward conversation or alternatively don’t want to upset the customer, in case it has a detrimental effect on future business. However this may, as a result of the immediate constraints on your cash flow, prevent your business from being able to trade and thus cause its ultimate demise.
A comprehensive credit control management policy can prevent this from happening to your business. The ICE PACC is a unique online credit control tool that incorporates a host of unique functions including free pre legal recovery. The system is based on ensuring that your credit control process assists your cash flow and prevents bad debt
For further information about the ICE PACC contact us at info@icepacc.com
Tuesday 1 March 2011
SAGE Update
ICE PACC are pleased to announce that this unique and innovative credit control system is now able to upload SAGE reports in order to make the system even easier for its clients.
The innovative credit control management tool that promotes due diligence and focuses on collections whilst offering free pre-legal recovery is looking forward to a prosperous 2011.
Credit Control often is often neglected until of course an payment of an invoice is rebuffed.
If your interested in finding out more about the ICE PACC then contact us directly at info@icepacc.com
The innovative credit control management tool that promotes due diligence and focuses on collections whilst offering free pre-legal recovery is looking forward to a prosperous 2011.
Credit Control often is often neglected until of course an payment of an invoice is rebuffed.
If your interested in finding out more about the ICE PACC then contact us directly at info@icepacc.com
Proof of Debt – The Paper Trail
Many of the cases that are submitted to our collections department lack any real evidence of the suggested debt in the first instance.
We are frequently bombarded with cases that have only the briefest paper trail of:
• An email confirming the order but not the details of.
• An Invoice that has been submitted and later rebuffed
• A number of emails detailing why the debtor is not going to pay
Consequently this weakens the case when attempting to recover the monies and forces us to apply to the courts in order to hopefully pass judgment. Of course for the creditor to be successful in court we have to hope that the judge understands the parameters of the case and subsequently finds judgement in their favour, which with a lack of evidence is not always guaranteed.
One of the reasons that we developed the ICE PACC was in order to promote due diligence by establishing an auditable paper trail and thereby ensuring that detailed order forms are signed by authorised representatives and that those signatures confirm the receipt of goods or services and are satisfied with the provision.
This, coupled with comprehensive terms, allows the creditor to demonstrate at court that the debtor requested the order and was satisfied with the end product.
In the event that a part of this process is skipped, it potentially allows the debtor to raise a dispute and thus justify the non payment of the invoice.
Additionally a dispute means that a statutory demand can not be considered to be effectively and legally served and therefore we have to obtain judgement first, incurring considerable time delays waiting for the legal process to complete. Quite often small businesses will not go down this avenue due to lack of funds or confidence in securing judgement and as a result are compelled to, reluctantly, write the debt off.
Business owners often tell me that whilst they can see the benefit of a comprehensive credit control policy, they don’t have either the time or resources to create one or that their industry is such that, terms, delivery notes and order confirmation are not common practice and that such action will lead to a loss in sales.
I reply with asking them to lend me £5,000.00 and when they look at me in astonishment I suggest that at the moment they are, essentially, lending businesses owners, who they don’t necessarily know, large sums of money in the form of credit in the hope that they will eventually pay with no real paper trail.
Ultimately if you are going to offer credit in the form of invoicing you need a paper trail that will demonstrate that the debtor owes the outstanding amount without dispute.
If you are looking for a online collections system that promotes Pro Active Credit Control and incorporates FREE pre legal recovery then subscribe to the ICE PACC.
We are frequently bombarded with cases that have only the briefest paper trail of:
• An email confirming the order but not the details of.
• An Invoice that has been submitted and later rebuffed
• A number of emails detailing why the debtor is not going to pay
Consequently this weakens the case when attempting to recover the monies and forces us to apply to the courts in order to hopefully pass judgment. Of course for the creditor to be successful in court we have to hope that the judge understands the parameters of the case and subsequently finds judgement in their favour, which with a lack of evidence is not always guaranteed.
One of the reasons that we developed the ICE PACC was in order to promote due diligence by establishing an auditable paper trail and thereby ensuring that detailed order forms are signed by authorised representatives and that those signatures confirm the receipt of goods or services and are satisfied with the provision.
This, coupled with comprehensive terms, allows the creditor to demonstrate at court that the debtor requested the order and was satisfied with the end product.
In the event that a part of this process is skipped, it potentially allows the debtor to raise a dispute and thus justify the non payment of the invoice.
Additionally a dispute means that a statutory demand can not be considered to be effectively and legally served and therefore we have to obtain judgement first, incurring considerable time delays waiting for the legal process to complete. Quite often small businesses will not go down this avenue due to lack of funds or confidence in securing judgement and as a result are compelled to, reluctantly, write the debt off.
Business owners often tell me that whilst they can see the benefit of a comprehensive credit control policy, they don’t have either the time or resources to create one or that their industry is such that, terms, delivery notes and order confirmation are not common practice and that such action will lead to a loss in sales.
I reply with asking them to lend me £5,000.00 and when they look at me in astonishment I suggest that at the moment they are, essentially, lending businesses owners, who they don’t necessarily know, large sums of money in the form of credit in the hope that they will eventually pay with no real paper trail.
Ultimately if you are going to offer credit in the form of invoicing you need a paper trail that will demonstrate that the debtor owes the outstanding amount without dispute.
If you are looking for a online collections system that promotes Pro Active Credit Control and incorporates FREE pre legal recovery then subscribe to the ICE PACC.
Proof of Debt – The Paper Trail
Many of the cases that are submitted to our collections department lack any real evidence of the suggested debt in the first instance.
We are frequently bombarded with cases that have only the briefest paper trail of:
• An email confirming the order but not the details of.
• An Invoice that has been submitted and later rebuffed
• A number of emails detailing why the debtor is not going to pay
Consequently this weakens the case when attempting to recover the monies and forces us to apply to the courts in order to hopefully pass judgment. Of course for the creditor to be successful in court we have to hope that the judge understands the parameters of the case and subsequently finds judgement in their favour, which with a lack of evidence is not always guaranteed.
One of the reasons that we developed the ICE PACC was in order to promote due diligence by establishing an auditable paper trail and thereby ensuring that detailed order forms are signed by authorised representatives and that those signatures confirm the receipt of goods or services and are satisfied with the provision.
This, coupled with comprehensive terms, allows the creditor to demonstrate at court that the debtor requested the order and was satisfied with the end product.
In the event that a part of this process is skipped, it potentially allows the debtor to raise a dispute and thus justify the non payment of the invoice.
Additionally a dispute means that a statutory demand can not be considered to be effectively and legally served and therefore we have to obtain judgement first, incurring considerable time delays waiting for the legal process to complete. Quite often small businesses will not go down this avenue due to lack of funds or confidence in securing judgement and as a result are compelled to, reluctantly, write the debt off.
Business owners often tell me that whilst they can see the benefit of a comprehensive credit control policy, they don’t have either the time or resources to create one or that their industry is such that, terms, delivery notes and order confirmation are not common practice and that such action will lead to a loss in sales.
I reply with asking them to lend me £5,000.00 and when they look at me in astonishment I suggest that at the moment they are, essentially, lending businesses owners, who they don’t necessarily know, large sums of money in the form of credit in the hope that they will eventually pay with no real paper trail.
Ultimately if you are going to offer credit in the form of invoicing you need a paper trail that will demonstrate that the debtor owes the outstanding amount without dispute.
If you are looking for a online collections system that promotes Pro Active Credit Control and incorporates FREE pre legal recovery then subscribe to the ICE PACC.
We are frequently bombarded with cases that have only the briefest paper trail of:
• An email confirming the order but not the details of.
• An Invoice that has been submitted and later rebuffed
• A number of emails detailing why the debtor is not going to pay
Consequently this weakens the case when attempting to recover the monies and forces us to apply to the courts in order to hopefully pass judgment. Of course for the creditor to be successful in court we have to hope that the judge understands the parameters of the case and subsequently finds judgement in their favour, which with a lack of evidence is not always guaranteed.
One of the reasons that we developed the ICE PACC was in order to promote due diligence by establishing an auditable paper trail and thereby ensuring that detailed order forms are signed by authorised representatives and that those signatures confirm the receipt of goods or services and are satisfied with the provision.
This, coupled with comprehensive terms, allows the creditor to demonstrate at court that the debtor requested the order and was satisfied with the end product.
In the event that a part of this process is skipped, it potentially allows the debtor to raise a dispute and thus justify the non payment of the invoice.
Additionally a dispute means that a statutory demand can not be considered to be effectively and legally served and therefore we have to obtain judgement first, incurring considerable time delays waiting for the legal process to complete. Quite often small businesses will not go down this avenue due to lack of funds or confidence in securing judgement and as a result are compelled to, reluctantly, write the debt off.
Business owners often tell me that whilst they can see the benefit of a comprehensive credit control policy, they don’t have either the time or resources to create one or that their industry is such that, terms, delivery notes and order confirmation are not common practice and that such action will lead to a loss in sales.
I reply with asking them to lend me £5,000.00 and when they look at me in astonishment I suggest that at the moment they are, essentially, lending businesses owners, who they don’t necessarily know, large sums of money in the form of credit in the hope that they will eventually pay with no real paper trail.
Ultimately if you are going to offer credit in the form of invoicing you need a paper trail that will demonstrate that the debtor owes the outstanding amount without dispute.
If you are looking for a online collections system that promotes Pro Active Credit Control and incorporates FREE pre legal recovery then subscribe to the ICE PACC.
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