Maximise cash flow by obtaining prompt payment whilst maintaining goodwill
No matter how diligently you open new accounts and no matter how robust your credit control is, many customers will simply not pay you on time. They don’t communicate with excuses or apologies they just do not pay.
This may be that they are short of money themselves. Sometimes bigger companies cynically use suppliers’ money for as long as possible before settling an account. Worst of all, late payment may signal financial difficulties and a write-off may be looming.
Maintaining customer goodwill and retaining hard-won customers appear on every business owner’s mission statement – the problem is achieving this and getting paid too!
CPA’s service can be tailored depending on the risk of non-payment and depending on whether or not you wish to maintain an ongoing trading relationship with any particular customers.
When they consider the time is right (often 5-9 weeks overdue), CPA Members input slow-payer information to the system and sit-back while CPA send a carefully crafted series of letters prompting payment directly to the supplier (Member). The success rate for this service is, on average, 84% with the biggest impact being in the first week. Payment comes to you directly from your customer and the trading relationship continues as before. So you can have your money and your customer too.