30
Nov

10 Amazing Tips for Credit Control Teams!

Use these amazing tips to get your collections and revenue management team performing at their peak! These 10 amazing tips for credit control teams will have your own team running more efficiently than ever before. There are many distractions, especially in a traditional office environment that can get someone off their rhythm and it sometimes becomes difficult to focus. There are internal people who require constant assistance, emails that are all marked as “urgent” and a million other things including telephone calls that can stand in the way of your team not meeting their targets.

 

Real Tips & Ideas

 

Here are the 10 Tips all Credit Control Teams can use:

  • Tip #1: Make sure that all advantages and strengths of individual team members are used to the fullest. For example, assign credit controllers work according to their regional language should your customers be based in different provinces/locations where different languages are used.
  • Tip #2: Set weekly and monthly collections goals to keep motivation, team direction and productivity high.
  • Tip #3: Ensure that all team members are adequately skilled or trained within the Credit Management field – encourage those who aren’t accredited / certified to promptly acquire their training.
  • Tip #4: Create, update and maintain a process list that can be easily followed to improve efficiency as well as to assist in the transition of new staff.
  • Tip #5: Ensure efficiency by keeping up to date with the entire teams weekly goals, review and improve upon results on a weekly basis instead of waiting for month end.
  • Tip #6: Make it the entire team’s main focus to report and review on each week’s collections in order to reach the ultimate monthly collection targets
  • Tip #7: Keep a fully-visible, real-time daily cash forecast report. This ensures that all team members understand, appreciate and focus on daily customer contact as they can easily view the percentage of contacted customers vs those who aren’t. This builds good customer relationships and the customer is reminded of their debt well ahead of time; and more importantly, this shows expected monies promised for payment by contacted debtors.
  • Tip #8: To avoid running behind on tasks, ensure that proper housekeeping is maintained throughout the month; i.e. credits and payments are allocated to relevant invoices, write offs are completed, returns and discounts are managed appropriately etc.
  • Tip #9: As a team, it is important to study and review past reports in order to set goals better.
  • Tip #10: Invest in tools and systems that improve efficiency, effectiveness and productivity

 

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Are you looking for a reliable, trustworthy and productive Credit Professional to manage your debtors’ book? Complete the form below and we’ll take care of everything!

What is the name of the company that owns the debtors' book?
Where is the company physically located?
What is your job title with the company?
How many accounts (individual account numbers, even those within groups) are in the debtors book?
Please enter the ideal start date for us to start working towards resolving the arrears or managing debtors book
Please provide us with any and all information about the debtors' book
Upload the age analysis of all the accounts within the debtors' book in MS Excel as of today's date

 

Related: Credit Professional Services in Kempton Park

 

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