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Credit & Finance - Tips from the Experts

Reading into Company Accounts

Whilst the old adage 'you can get a set of figures to tell someone anything you want them to believe' isn't entirely untrue, many people fail to recognise the importance of being able to understand from a set of accounts the real messages and sometimes warning signs they contain. Being able to effectively read, analyse and critically interpret company accounts can be incredibly helpful in managing your business, but also in deciding whether to work with other businesses as suppliers, customers or partners.

Want to find out more? Introduction to Company Accounts, Analysing Company Accounts, Interpretation of Company Accounts.

Facing up to Debt Collection

Many people are scared of collecting debts or simply don't know how to do it effectively and as a result the business sector as a whole writes off millions of pounds each year purely through having poor debt management processes. Almost anyone can successfully collect debts if they follow industry best practice procedures. For example, merely threatening legal action is often enough to get many debtors to pay up. Being prepared to consider a revised payment arrangement often gets you a better return than being too inflexible. It really is no more complicated than knowing your options and then following agreed timescales to the letter.

Want to find out more? Effective Collection Techniques.

Assessing Credit Limits

If you want to reduce your incidence of bad debt in the business then knowing how to properly assess credit limits is a key skill. Offer too much and you risk losing money. Offer too little and customers won't buy from you.

Graham Kerr, Senior Consultant
Graham Kerr, Senior Consultant

Want to find out more? Risk Assessment Workshop.

Overcoming Export Problems

Profitable exporters fully utilise the guarantees available from the ECGD to protect them from high debt collection costs and even bad debts themselves. Additionally the use of Bills of Lading and Air Waybills significantly eases the problems usually associated with exporting.

Want to find out more? Export Procedures and Documents.

We have a range of credit & finance courses to help you meet these challenges.