Credit control is an industry term that refers to the critical business process of making sure credit is only extended to customers who are likely to pay in full and on time. Big businesses may have skilled teams to undertake this assessment, but not all business owners have the expertise and time to manage this critical business function. Bear in mind, if you’re running at a profit margin of 10% and you don’t get paid for $10,000 due, that’s $100,000 in earnings you have to make up to recover your shortfall. Bad debts impact your cash flow and bank balance, not to mention the undue stress and anxiety caused.
Our philosophy is to help our clients save time, stress and legal fees by taking prudent measures to help reduce the likelihood of bad debts in the first place. We do this by working with you to set up a simple and efficient credit application system to reduce the chances of receiving nasty surprises down the track. We then undertake a check of the information provided to give you a level of confidence to engage in business or make further enquiries. It’s your business – why risk it?
We’re completely upfront about our costs and what you receive for your investment. There’s a fee you pay us to assess the risk of you doing business with your customer, with bulk subscription discounts available. You pay a small amount to protect yourself from a potential bigger risk of loss. What price do you place on that? We can help you discuss ways in which you can recover our fee so your risk investment is cost neutral and our solution is end to end.
BCCS provides you with a Commercial Credit Account Application and Agreement form template. Simply add your logo & business name in the spaces indicated and ask your prospective customers to complete this form. Then send the completed form to BCCS with your payment. With our experience and capabilities, we take the hassle out of assessing the quality of your customer, provide a comprehensive service and respond with a Debtor Risk Assessment check report including:
Let us take care of this important task, so you can get on with building your business with peace of mind – knowing you have done what you can to minimise risk to your own company. See overleaf for next steps.
Make sure you understand the information contained in a credit report. Missing small but vital details could cost your business. That’s where BCCS steps in with over 20 years experience to interpret the information obtained and provide a recommendation on how best to proceed. Offering a Trade Account is effectively extending a loan – diligence is critical.
If you need us, we’re here to help you every step of the way. Just let us know how we can help you.