It’s important to establish the right policies and procedures from the start and make sure they are always followed. Never be tempted to cut corners when chasing payment. Failing to follow debt management protocols can make it harder to recover bad debt through the courts in the long run. Having access to good quality advice can also help you to decide whether a claim is worth doggedly pursuing if it has little chance of winning or recovering its full value.
If you are doing business overseas, it can obviously be more difficult to recover assets. Using the local courts and enforcement measures can take time and systems may lack the transparency of their UK equivalents. Minimise costly delays by obtaining the right information about the customer from the start, such as knowing exactly where any factories and warehouses are located.
Any firm you engage will be acting in your voice, whether or not they ‘white label’ their services when approaching your customers. They are an extension of your business so make sure you work
with a reputable company who will protect yours.
Our clients trust us to collect their money – but not at the expense of their reputation. Prompt payments are valuable but your hard-won goodwill and reputation is priceless. Through our responsive and responsible service, we protect both to your advantage. We’ll always give you sound commercial advice to nurture the long term relationships that matter, as well as full compliance with regulations and protocols.