It seems obvious that, when you are in sales, you should know who your clients are. However, all too often, salespeople do not realise who exactly they are dealing with. Companies deal with agents (either official or otherwise) and sales can happen with very little information about who exactly the client is.
This can be fine when trading is good. However, when an invoice goes unpaid and a company wants to recover the debts, the missing links of information about the client can be the difference between recovering the debt and not. This is all the more important in the current economic climate where salespeople are always looking for new business and credit control departments are always looking to chase invoices as quickly as possible.
It is an awful lot easier to recover a debt when you know exactly who the debtor is. That’s why we recommend all of our clients to create a standard New Client Form as part of their credit control facility, featuring information including:
Contact Name, Business Name, Trading Status, Business Address, Telephone Number, Email and Website.
It might seem like fairly basic information but it is information that we find many companies fail to ascertain right from the outset. In the event that you find yourself trying to recover a debt, this information will be of vital importance in helping you to trace and communicate with the client. It will also prevent costly circumstances where you end up taking the wrong person to court, which will be immediately thrown out.
Of course, many companies find that this sort of diligence will also assist from sales point of view, because the more you know about your customers, the better your database and the more you will be able to sell them. It is a relationship like this that will enable credit controllers and sales teams to work in harmony.
In today’s tough trading conditions, companies are sometimes too eager to secure a sale without taking the time to think about where exactly the sale is coming from. However, a sale is only a sale if you get paid and, without the information above, you lower your chances of actually getting paid. With this bare minimum of information, however, a qualified debt recovery team can recover the funds on your behalf.
For more information, please contact Alicia Adcock on email@example.com or 08453313031