Why You Should Outsource Your Credit Control
Hi, my name is Adam Stewart, Debt Collection Expert and owner of Debt Recoveries Australia.
There are very few things more important to a company than making sure that its customers pay on time. More and more companies are choosing to outsource their credit control duties to professionals like Debt Recoveries Australia.
Outsourcing your credit control means that you can focus on what you do best, instead of wasting time trying to squeeze credit control duties in, on top of your other everyday tasks.
Credit control ensures that you give credit to credit worthy customers who are able to pay, and who actually do pay on time. Calling up your clients to collect a debt or telling them that you cannot extend their credit for non-payment issues can get very uncomfortable at times. Couple that with the fact that you may not want to upset that client and you have a situation where only the most delicate of touches will do.
Sometimes, the best course of action is to hire an outside firm. A team of experts who solely focus on credit control. A firm that has experience in managing the credit control requirements of different organizations to handle this delicate matter.
More businesses are leaving their credit control to the professionals, and here are the top 5 reasons why I think you should do the same:
1. It’s a numbers game.
Credit control is all about volume. Professional credit control services will allow you to shift your resources to meet demand when you hit an unusual sales cycle. Outsourcing means you do not have to fill in the gaps an increased workload creates.
2. You need the right technology.
There is a lot to know when it comes to credit control. You need the right knowledge, the right software, and the right technology. You need control of the data to write your performance reports. It is a lot to juggle. When you outsource your credit control to an agency like ours, you are getting all the right technology, plus all the expertise. We have invested in top of the line credit management systems. Moreover, our staff are trained and kept up to date on the most modern and effective analyzation methods. We stay on top of it so you do not have to.
3. You need the right people.
Unfortunately, as many businesses have learned too late, not everyone is cut-out to be a credit controller. Professional agencies seek out the best and brightest and provide them with ongoing training to make sure they are up to date and always effective. When you outsource your credit control, you never have to worry if your team is competent to handle the task. You always know you are getting a professional, guaranteed result.
4. Keep the customer happy.
It might seem like a behind the scenes responsibility, but credit control can take up a lot of a business’s time. In addition, when a business is not using its time effectively, that can effect customer satisfaction. When you free up the time you save with outsourcing your credit control, you create more time to focus on customer satisfaction, and that is a win-win. Outsourcing this part of your business sends a strong message to your customer that you are professional and you have stringent controls in place. They will respect you for it.
5. It affects your bottom line.
Let us face it. You need an accurate picture of your business. You need to know exactly where your financials stand and how you can do better next quarter. When you outsource your credit control, the professionals you hire can provide you with all the data they have collected about your customers. You get to focus on running your business, and we focus on making sure things are running smoothly behind the scenes.