There’s no need to reinvent the wheel, and certainly not when it comes to getting your invoices paid as quickly as possible. Optimizing your credit management is effective in many cases: minimal depreciation of your debtors and your money coming in faster. We often hear: “We already have it well organized. But the reality is often more volatile. Investing pays off, especially when we are talking about your outstanding invoices.
In a nutshell, good credit management means getting your outstanding invoices paid on time and keeping your accounts receivable balance as low as possible. By keeping a sharp eye on the inflow of outstanding invoices, you reduce risks and improve your company’s financial liquidity.
Your incoming cash flow allows you to make new expenditures for your company, after which you will receive income. It is then vital that this cash flow continues to come in. However, if debtors pay late, this can have consequences for the investments and expenses of your company. Therefore, optimizing your credit management is essential for your business processes.
In our article on credit management, you’ll read in detail about what it is and why implementing it properly is essential.
What are the most common problems we encounter in practice that need improvement? The most common bottlenecks in credit management are:
We regularly see that structural improvements can be realized to achieve profit maximization. Examples of situations in which credit management advice is applicable are:
Every company is different and has its own needs and wishes. Naturally, we tailor our advice to these. It will come down to the following:
Not only will we advise, but we will also come up with solutions that we will implement together with you.
Within Xolv, we have gained decades of experience and knowledge in all facets of credit management: administration and management, from the angle of the entrepreneur, insurer, and broker, branch wide, from SME to multinational, both national and international. So, whatever your question is, we always find an appropriate solution.
Effective credit management depends on the right tone of voice
Sound credit management: the cheapest way to achieve optimum cash flow
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