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
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