“We have been using GroForth’s services for over a year. We engaged them during a period of change in our organisation. With their support we implemented a new accounting package, reviewed and updated our sales and supplier invoicing processes, implemented new options for easier customer payments and eliminated procedures which were no longer working for us. By engaging with Groforth ultimately, we enhanced our financial management reporting and built additional resilience into our processes. The book-keeping team in GroForth are easy to deal with, knowledgeable and responsive.”
CREDIT CONTROL
01 Backlog in your Accounts Department?
02 Invoices not being paid on time?
03 Hate chasing customers for late payments?
Effective credit control not only improves your cashflow, it also saves time and eliminates the stress of chasing customers for late payments.
However, not every business can afford to employ a full time credit controller. When things go wrong, credit control problems can leave your business short of cash to pay your suppliers and staff. Indeed, in the worst scenarios, this can even put the viability of your business at risk.
The good news is there is a solution. Many businesses like yours need help to get customers to pay on time. Our credit control clients range from sole traders to entrepreneurial startups and SMEs.
Our credit control services include:
- Reviewing your existing credit control processes.
- Reviewing your onboarding procedure for new customers including checking credit worthiness.
- Checking that invoices are issued correctly and on time.
- Implementing and enforcing clear credit terms.
- Communicating with customers regarding late payments.
- Managing your debt collection process.
- Highlighting and implementing any necessary credit control improvement strategies.
- Training for in-house credit controllers.
Credit Control services tailored to your needs
Here at GroForth, we want you to have an effective credit control process that supports good customer relationships, makes it easy for your customers to pay you and encourages them to settle their invoices promptly.
We provide tailored solutions designed to meet your immediate needs and grow with you as your business develops. We also provide fully outsourced credit control if you do not have an in-house credit control function.
Our well designed credit control processes supported by prompt, clear and professional communication help ensure that your customers pay on time, every time.
Businesses we work with
GroForth helps businesses across Ireland design and implement effective credit control policies and procedures. We also provide fully outsourced credit control solutions. The sectors we work with include beauty, healthcare, wellness, retail, hospitality and technology.
Our team is based in Ireland which means you don’t have to worry about time zones, language difficulties or regulatory differences when you contact us for support.
What our clients say about us
A pain point for most businesses like ours is bookkeeping, we have used GroForth for many years and they effectively alleviate it. They are responsive and care about the outcome to all queries.
Alan Lyons, Director of KinchLyons Limited
FAQS
What is credit control?
Credit control is a process that ensures you receive prompt payment for the goods and services that you provide to your customers.
Why is credit control important?
Credit control is important because it improves your cashflow, saves administrative time, and helps you avoid bad debts.
How can I tell that I need to improve my credit control?
Backlogs of processing in your finance department, staff struggling to raise invoices on time, problems with customers not paying or repeatedly making late payments — these are all signs that you need to improve your credit control.
How can I improve my credit control?
Seek advice on implementing an effective credit control policy. (GroForth can help you with this). Ensure your credit control staff adhere to the policy. Raise invoices promptly. Make it easy for your customers to pay you. Be consistent. Monitor and record payments that are due/paid and don’t delay following up on late payments.
Always maintain the best of relationships with all customers.
What are the advantages of outsourcing credit control?
Outsourcing credit control can be more cost-effective than employing an in-house credit controller. As well as enhancing cashflow, it allows businesses to access to skills that can be difficult to hire/retain in a tight labour market. Better cashflow management can reduce a business’s need to rely on external loans or financing. When it comes to chasing overdue payments, many businesses like the distance that outsourced credit control places between them and their customers
Effective credit control management contributes greatly to healthy cashflow. Many businesses greatly appreciate the outsourced credit control model.
When is the best time to outsource credit control?
While you can outsource credit control at any time of the year, Q4 is a good time to research potential service providers with a view to outsourcing from the start of the new year.
