Business owners are increasingly coming under more work pressure as they seek to meet the statutory compliance of dealing with corporate and taxation requirements and meeting the financial requirements of the business and ensuring that cash inflows are strong, steady and secure enough to meet outgoings, create enough capital for future growth and provide the owners with a good lifestyle.
Factors affecting poor cash flows can be business and economic cycles that lead to low sales, high cost structures, insufficient or poor control of debtors, or poor management skills by managers. Owners or managers can easily deal with each of these factors and improve cash flows and the business bottom line.
It is inevitable that any business selling goods or services on credit will incur bad debts at some point, however good effective measures can neutralise or limit the danger of substantial losses occurring to the business.
in collaboration with Behan Legal have good solid experience in creating a management solution that deals with this potential problem, and as part of their solution can assist to:
Ensure that correct and relevant terms and conditions are in place embedded in the management system of the business;
Design an appropriate system that assists the business in its collection process, and
Provide ongoing legal and other related services as part of the collection process.
TIME IS OF THE ESSENCE
Most unpaid invoices become bad debts when the business allows the debt to become older each day, which makes it easier for the debtor not to pay the invoice. Fast debt recovery is vital in every situation to ensure the success of the collection process. The management solution integrates immediate notification for legal action, either through Behan Legal or aacad$ Recoveries
that provides recovery services.