Credit Management and Reporting
Remember that you are lending your client's money when you supply goods or services and you need to be sure that they will be in a position to pay your invoices when they are due for payment.
Before you grant credit facilities to a new client nowdays it is a must to have them complete your credit application form including three trade references. Just keep in mind that they will only give you their best referees but check them out anyway.
You can also provide their details to us so that we can check them out as well to see if they have any defaults or judgments against them on their credit file.
It sounds like it is a long drawn out process but it is not - it can be done on the same day that it is referred.
If you decide not to assess their credit worthiness and just go ahead and grant them credit ask yourself what happens if they close down their business owing you money ?
Our credit management team can check out your new client, monitor their payment performance along the way and also advise you if any adverse reports arise.
Remember: Forewarned is Forearmed.