NZ Credit & Finance Institute
Member
Governance New Zealand
Associate Member
RITANZ
New Zealand General Member

Debt Collection Unit

maximise returns from non-paying customers

Implementing A Robust Business Process

Collecting overdue accounts has got to be most business people’s least favourite activity. Directly asking for money, even if it is owed to you, is an unpleasant task that finds itself at the bottom of everyone’s task lists. But, for business survival, it is a vital task.

There are a number of facets to credit control that link together to give you an outcome. The better you are at these components the more successful you will be in collecting the money that is owed to you. The main components are:
+ Good initial documentation – contract, terms of trade with payment terms being prominent;
+ Clear internal processes – to identify late payers quickly;
+ Credit Control System – a set of processes that communicate, escalate and record discussions and payment arrangements.

This can seem rather daunting and complex to set up for your business, but the experts in the BizEnhanz Debt Collection Unit can help you.

Key Services

Collection Process Advisory

Successful collections is about good internal processes. If you have good processes you will not only be more successful at collecting overdue invoices in full, but the actual task of chasing overdue accounts becomes less unpleasant. Expert advice is available to help you to implement good collection processes within your business.

Collection Services

There are occasions, however, when you may need to outsource collection. This may be because you haven’t been successful in recovery efforts yourself and therefore an escalation is required, or that you are busy and your business efforts are needed for other tasks. Whatever the reason expert collection help is here.

Summary

  • Successful overdue account collections is underpinned by good internal business process
  • The collections process is not complex, but that doesn't mean that it is easy. Ensuring customers pay you as agreed but without compromising relationships is a specific skill
  • Sometimes, however, outside help is needed whether that is helping with setting up internal credit control processes, or even for conducting collections on your behalf
  • Expert help is available on all facets of account recovery

More Information

BizEnhanz is pleased to offer a free, no obligation 15 minute phone consultation to discuss any specific Collection Services questions you may have.
Please contact me to arrange for a time for my FREE phone consultation