- Most businesses have formal accounts receivable policies that dictate when to bill, how much to bill and when to collect. Unfortunately, not all businesses enforce those policies effectively – or even adopt the right processes at all. In many cases, it comes down to culture.
- Businesses that prioritize sales often fall into the trap of extending credit to customers, offering discounts or ignoring payment terms if it means winning new sales. However, if management does not have a focus on working capital, no one will. The upshot? You end up unintentionally providing customers with free financing. Some may argue this is no big deal, but the truth isn’t so simple.
- If a company needs to borrow money to meet its obligations because customers are paying late, it could incur losses on the financing charges alone. Even if that’s not the case, carrying overdue accounts receivable still has a cost. It puts you on a cash flow tightrope. Rather than having free capital to invest in growth opportunities, increase shareholder payouts, buy new equipment or introduce new products, your money is tied up on your balance sheet.
- By use of outsourced credit control service from Sary, our clients are able to focus more on their core business while we manage and collect their overdue accounts receivables.
- Moreover, asking your customers for payment could be cumbersome and annoying; we will support your client relationships through a consistent management approach in an extremely expertise and modest manner.
- We will help you track your payments carefully and proactively follow-up on your overdue invoices on a timely basis. Further, we will support your account reconciliation by helping to you allocate payments accurately and to ensure that your customers have the correct balances on their accounts.
- At your request, we shall extend staff training and development services for your employees in the Billing & Credit Control Departments and help them advance in practical Account Receivables Management skills as well as soft debt management skills.
