The Know-it Blog

The Know-it Blog

The Know-it team

Dec 29, 2020

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impact of credit control on customer relationships

The Impact of Credit Control on Customer Relationships

In any business, effective credit control and maintaining a healthy cashflow is crucial for long-term success. Effective credit control practices help businesses manage their finances by monitoring and regulating credit sales and ensuring timely payments. However, it is essential to strike a balance between maintaining healthy cashflow and nurturing strong customer relationships. This article explores …

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benefits of offering trade credit and how to mitigate risk

The Benefits of Offering Trade Credit & How To Mitigate Risk

Offering trade credit can bring a huge boost to your business! In today’s business landscape, companies are constantly seeking ways to attract and retain customers while maintaining a steady cash flow. One effective strategy that accomplishes both goals is offering trade credit. This is an arrangement where businesses extend credit to their customers, allowing them …

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enhancing your credit control process

Maximising Cashflow: Enhancing Your Credit Control Process

Effective credit control is crucial for maintaining a healthy cashflow and financial stability. By implementing a well-structured credit control process, businesses can mitigate the risks associated with late payments and bad debts, ensuring a steady stream of revenue. In this article, we will explore strategies to optimise your credit control process, helping you maximise cashflow! …

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The Alarming Trend of Rising Company Insolvencies

The Alarming Trend of Rising Company Insolvencies

Company insolvencies continue to climb steeply March monthly insolvency statistics reveal. 2,457 businesses in England & Wales entered liquidation, an increase of 16% year on year. In Scotland the figure is 21% higher compared to March 2022, with 140 insolvencies recorded. The rise of Creditors’ Voluntary Liquidations (CVLs) paints an extremely bleak picture. 2,115 CVLs …

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