Do you honestly know who owes you money? Perhaps you have dealings with one or more staff members from an organisation that purchases goods or services from you but do you know the legal identity of the company that they are employed by?
If this question leaves you scratching your head and looking at your ledgers with fear then maybe you need our help.
But you are not alone, many ledgers hold incomplete debtor information and at Niche Trade Credit we can help you by reviewing your ledger.
The reason we recommend this is that if you have the full legal details of every one of your clients it makes it much easier to ensure that you receive payment by enforcing a contract.
This is also the case if a client files for insolvency and you need to rank for a dividend or make an insurance claim.
Early Warning System
How handy would it be for you to know BEFORE a client defaults on a payment that they are experiencing difficulty with their finances?
It could open up a conversation about a payment plan, you could suspend a delivery of goods till payment is guaranteed or sit with them to create a strategy that is beneficial to both.
We can provide you with early warnings about both current and potential customers. Be aware before you sign if a client has outstanding debts with other providers so you can save yourself a headache or maybe insist on up front payment rather than extending credit.
Keeping an Eye on Credit Limits
Let us do all of the hard work for you. You may have set credit limits for some of your climates but do you have a process in place that means they are regularly reviewed.
We have experienced analysts that can do this for you. They have a broad range of information available to them for determining appropriate credit limits and can assess your data and provide guidance in this important area of business.
We guarantee that all of our mercantile reports are completed by our specialists to accurately reflect the information that is relevant to your business finances and standing without any ‘padding.’
Some providers may supply off the shelf generic reports but we guarantee that each one of our reports is the result of the analysis of the data that you provide us combined with the pertinent market information.
Come to us for Practical Financial Advice
If you are not sure about your business finances and how to protect them come and see us for practical advice.
Financial areas can be confusing to even the most experienced person. Your job is to run your business that is your expertise, this is ours and we can provide advice in areas like:
- Effective Retention of Title
- Directors Guarantees
- Security or payment terms.
These are just some of the areas that we can assist with, come and see us to sort out your business finances before they become an issue.