Janet Barton. 01254 777394
- Won't chasing for money upset my customers? No. If its done right it enhances the customer relationship.
- So you just chase for money then? 'chasing' tends to imply that the money is already overdue. I manage your debtors ledger which means customers are far less likely to go overdue in the first place.
- I'm OK my business uses factoring. Factoring can cost up to 20% of your turnover. You can be tied in to long contracts and be stuck even if you decide factoring isn't for you.
- So you're a debt collector? No. Using a Debt Collectorion Agency is like shutting the stable door after the horse has bolted. Managing your customers and their payments means that debts are far less likely to go overdue in the first place and far less likely to need any debt collection.
- I'm ok we our system sends out standard letters at 30, 60 and 90 days. So if standard letters work so well then why are you having to send them out at 60 days let alone 90 days overdue!! Standard letters don't find out any reasons why your customer might not be paying. Or whether you're sending invoices to the correct address. Standard letters annoy your customers, they know they are just standard letters, and standard letters let your customers know that they've probably got 90 days to pay.... you could end up going to the 90 day letter then send a legal letter - only for your customer to reply that they didn't pay because of a tiny query on the invoice. Using a credit controller to contact your customers personally each month means your customers are much less likely to go overdue at all because any problems on their invoices are sorted out before they're even due.
- I might just need a couple of hours a month - you won't turn up for that little amount of work surely? Yes I will! depending on locations, I try to fit two smaller businesses into one working day. This is far more cost effective for you the business owner.
- Why doesn't everyone use you then? Large businesses have a whole department of staff to do this. If a smaller business only needs a few hours a month then its very hard to recruit an experienced person to do it.
- Why hasn't my business adviser/bank manager told me about it? Most bank managers, accountants and business advisers just don't feel that pain of not knowing when you'll be paid. They only know the theory - 'keep an eye on cashflow' - which doesn't actually help your invoice collection. Some business advisers take a commission from factoring companies or banks which supply loans based on the value of your invoices. And of course your bank manager has no interest in telling you about something that can reduce your overdraft and reduce your bank charges!
- Could you show my existing staff how to do it? Yes if thats what you'd prefer. I can come for a one off or short term service, get your debtors ledger under control then give coaching and know how for keeping your cash flow under control, to you or your appointed member of staff.
- What if a customer is on its way to going bump? If you have worked at creating a good paying relationship with your customer, then he is far more likely to have paid you (or owe you a lot less!) in the event of his business failing.
- What area do you cover? I work in Lancashire and North Manchester.
- I am outside your area, can't you just work remotely if I send you a debtors list? Whilst I am happy to consider all enquiries, as a general rule the work is far less efficient if done remotely. For a start I'd have to be continually emailing or ringing you to check delivery notes, send out copy invoices etc etc. Best if I'm just there under your nose and next to all the relevant information.
Why Spend Another Sleepless Night Worrying About Overdue Invoices?
Ring or Email today and make late paying customers a thing of the past
Janet Barton 01254 777394
info @janetbarton.co.uk