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If you leave it…you won’t get paid – Is it time to outsource Credit Control?

Are you in the lucky 12% of business owners that aren’t affected by late payments? That’s right, 88% of businesses in the UK are affected by late payments. Nobody likes chasing money, but everyone wants to get paid!

Are you allowing invoices to go unpaid? It can be through fear of having awkward conversations with clients to collect the money you are owed, or purely because you’re too busy and can’t find the time to chase late payers.

However in a climate where the average SME is owed £11,000 in unpaid invoices, every business needs to be totally switched on and ready to take positive action over unpaid bills – every business that wants to actually get paid that is.

Because the longer you wait, the less likely you are to see your hard earned money, and the longer you will keep your own creditors waiting through no fault of your own. The chances of successfully receiving payment for your invoice drops from 81% if you act within two months to just 52% when you have wait for six months. And there’s only a 25% chance you’ll get paid if you wait for a year. In fact in 2013 in the UK, 10% of businesses had to write off at least 5% of their turnover as uncollectable sums. Can you afford to write off 5% of your turnover every year?

Don’t let late payments affect your reputation

A staggering 33% of UK businesses have had to increase their borrowing to pay their own bills because of late payments from clients.

Let PA Answer do it for you!

As your dedicated business support service, we want to help you in any way we can, which is why we provide a professional credit control service. Your friendly PA Answer PAs will make calls and even tale payments on your behalf. Let your dedicated PA Answer staff chase outstanding invoices and ensure you receive payment for your hard work. Plus, it’s another weight off your mind, giving your more time and energy to focus on running your business.

Call today on 0333 800 0085, or click here to contact us, to find out how PA Answer’s credit control team can help your business.

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