Receivables that are over 60 days old often result in a lot of cash-flow issues and subsequent losses for many companies. That’s why it is very important to ensure effective accounts receivable management. At Central Credit Control Ltd, we are proud to offer impeccable national coverage across all time zones of Canada. We have the tools and resources to give equal attention to detail to all our clients, be it individual consumers or businesses. From slow-paying and doubtful-to-pay accounts to accounts that have been written off as a loss in the past, we can manage all types with excellence and integrity. So reach out to our team to improve your credit cycle strategy by providing you with professional negotiation, credit reporting, and even legal assistance, if necessary.
If the customers do not make their payments on time, a business can run out of its working capital. Accounts receivable management is a process that ensures timely payment of dues by the customers to prevent the chances of non-payment or overdue. This eventually helps in building the financial and liquidity position of the business.
At Central Credit Control Ltd, we offer effective accounts receivable management solutions to reduce the risk of bad debts and increase profitability. We don’t just collect money from debtors but also pay keen attention to assessing the reasons for the delay and recommending solutions to avoid such situations in the future.
We manage account receivables by following these key steps:
Addressing and being receptive to customer grievances
Reviewing the credit rating or the paying ability of the customers before accepting the terms and conditions
Keeping a check on any risk of non-payment or delayed payments through close monitoring
Maintaining positive relationships with customers to reduce the risk of bad debts
Reducing the balance in the particular account receivable after getting the payment
Preventing the bad debts of outstanding account receivables during a certain period
If you have any questions about our services, check out our FAQ page. We have tried to answer some of the most common questions for your information.