Debtor Management
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What is Credit Control?
"Policies aimed at serving the dual purpose of:
Increasing sales revenue by extending credit to customers who are deemed a good credit risk.
Minimising risk of loss from bad debts by restricting or denying credit to customers who are not a good credit risk."                                           BusinessDictionary.com

Giving Credit is risky and you need to be aware of your exposure to bad debt.

Bad Debt risk begins immediately you give credit.

  • 2% immediate bad debt risk
  • 15% default risk at 60 days
  • 25% default risk at 90 days
  • Rapidly worsening at 120 days where the odds of getting paid are not much more than 50%

Bad debts cause businesses to collapse.

Australian businesses are the second worst payers in the region. Even India is better. source Dunn & Bradstreet.

The Ideal Aged Debtor Profile

Look at your debtor list to see whether you need to review your Credit Control procedures.

The accepted target is to achieve and maintain 90% of your Accounts Receivables in the current or under the 60 day range.

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How does your Accounts Receivable ledger compare?

If you have more than 10% of your Accounts Receivables in the 60+ day range then you need to take some action NOW.

Be smart, take that important step today - Contact Us Now.