Top 10 articles of 2019
We look back on 2019 and see which of our blog posts captured the attention of you, our readers.
From invoicing tips to the pros and cons of taking legal action against late paying customers, let’s count down the top 10 articles of 2019. Which one came out on top?
10. 5 resources that will take your credit control to the next level
One thing that remains the same year after year is the need to continue improving your credit control.
Whether you have a dedicated team in place or manage your credit control on the side, improving its efficiency is an ongoing process and can end up eating away at your time.
In this post we gathered five great resources to speed up the process and help you take your credit control to the next level.
9. 4 things you don’t want to hear about your invoices
With late payment continuing to plague businesses throughout 2019, it’s perhaps not surprising that many credit controllers shared the same frustrations about difficult conversations with customers.
This blog post looked at some of most frustrating responses customers give when being chased for payment as well as the replies you can give to encourage them to pay as soon as possible.
Discover the four things you don’t want to hear about your invoices here.
8. Invoice like a pro: 7 ways to improve your invoices
With research showing that optimising your invoicing process can increase your chances of getting paid on time, we shared some of our top tips and insider knowledge.
Take a look at our top seven takeaways that you can easily apply to your invoicing process here.
7. How to credit check a company
Offering credit terms to your clients is a great way to increase sales, but it comes with big risks. That’s why credit checks are key to protecting your business against late payments and bad debt and perhaps why this article was so popular.
If you’re new to trading on credit terms and want to know how to credit check a company, or you’re simply reviewing your current processes, these methods for building a full picture of a client’s credit profile will help you stay protected.
6. Is the UK on the verge of a surge in corporate insolvencies?
When figures from credit insurers, lenders and even the insolvency body R3 revealed a worrying picture for British businesses, we looked at what was behind the negativity and what businesses could do protect themselves.
With many of the issues still relevant now, businesses that are concerned about their financial health, or the health of their customers, could find these tips beneficial.
5. The pros and cons of taking legal action against late paying customers
When research revealed a 22% rise in the number of small businesses choosing to pursue legal action in an attempt to recover overdue invoices, we asked if taking legal action against late payment is the right choice.
Take a look at the pros and cons of taking legal action against late paying customers to see if it’s the right step for your business.
4. 5 common invoice disputes and how to handle them
Dealing with invoice disputes can be time-consuming, frustrating and worrying, especially when your business is depending on payment to keep moving forward.
In this blog post, we looked at 5 of the most common disputes you might encounter and how to deal with them.
3. 5 changes you should make to fight the late payment culture
Despite new policies and actions to protect them, late payment continued to be an issue for many business owners in 2019.
If you’re concerned about the effects of the late payment culture that persists, it’s crucial to be proactive rather than reactive in your credit management.
Take a look at these steps to help prevent future invoices from becoming overdue and ultimately make your credit control more efficient going forward, saving the business time and money in the long term.
2. 5 effective credit control strategies to implement after making a sale
Possibly the most critical period in the credit control process begins after the sale. At this point you should still have your client’s attention and your relationship with them will be at one of its highest points.
This is perhaps why our 5 effective credit control strategies to implement after making a sale was so popular.
1. 6 KPI’s to help you measure your credit control
Do you measure your credit control to track improvements and pinpoint problem areas?
If not, now is the time to start.
To help you get started gathering the right data, this blog shared our top 6 KPI’s to analyse your accounts receivable performance.