#guildwaystips - Twitter Hashtag

over 4 years ago

Tip: Review your invoicing technology/strategy. Instead of using word or excel which requires lots of manual work, try using technology to reduce human error from manual input. This also saves time and automates follow up processes for invoices that remain unpaid. #GuildwaysTips

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Guildways @guildways

over 4 years ago

Tip: By acting decisively you will be able to change your business culture and relationships with customers as well as reduce late payment for your business. #GuildwaysTips

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Guildways @guildways

over 4 years ago

Tip: Prioritise your collections into red, yellow or green alerts. The process of doing so will allow you to identify which of your customers invoices are priority. This system will make is easier and clearer for you to track any resolutions to outstanding debts. #GuildwaysTips

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Guildways @guildways

over 4 years ago

Tip: Tell your customers, early on, that legal/debt collection action will be taken against late payers. This will make customers/future prospects are aware you are not lax with payment and encourage them to pay on time to prevent legal action from being taken. #GuildwaysTips

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Guildways @guildways

over 4 years ago

Tip: Create a credit control and debt collection policy. Research has proven that the majority of your customers will pay late. It is good practice to ensure you contact your customer before an invoice is due to verify the invoice has been received & acknowledged. #GuildwaysTips

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Guildways @guildways

over 4 years ago

Tip: Have an understanding of cash flow and its importance. Cash flow is the most important component of any business. Your cash flow forecast is a great indication of what may happen in the future and therefore keeping it up to date is essential. #GuildwaysTips

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Guildways @guildways

over 4 years ago

Tip: Check your sales ledger! This often can be thought of as time consuming. However it can be much quicker than you think and will remind you which of your customers are approaching payment of if they have not paid yet. #GuildwaysTips #Creditcontrol #Tip

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Guildways @guildways

over 4 years ago

Tip: Research current as well as new clients. This is crucial in credit control as it allows a business to asses the risk than an existing or potential client may pose in terms of making payment. #GuildwaysTips

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Guildways @guildways

almost 5 years ago

Tip: Encourage early payment by ensuring that your bank details are enclosed on all of your invoices and by offering different payment methods to your clients. By making sure that it is easy for payment to be made you can increase your chance of early payment. #GuildwaysTips

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Guildways @guildways

about 5 years ago

Tip: Build a rapport with your customers. In doing so you are more likely to encourage prompt payment because you will earn respect and build trust from both ends of your business relationship. Communication will also improve as a result. #GuildwaysTips #trust #creditcontrol

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Guildways @guildways

about 5 years ago

Tip: When trading overseas, you need to make sure you consider your jurisdiction clause. This will allow you to control which country’s law your contract falls under and therefore which country’s courts can take legal action. #GuildwaysTips

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