Credit Control Policy Update

We have conducted a review of our Credit Control process. Please find attached our new Company Credit Control Policy Credit Control flowchart to be applied across all our locations and future acquisitions.

The Policy will follow 1 of 3 types of collection paths, which is determined by how the client has chosen to pay.

As a growing company, we need to be proactively encouraging clients to get set up onto ‘Go Cardless’ during the onboarding process. This not only minimises bad debt but also reduces the admin work our clients do when it comes to organising their outstanding payments to us. We can handle this on their behalf using ‘Go Cardless’ when our invoice becomes due for payment.

By following this Policy, we will be assisting and educating our clients collectively as a company.

Will this relate to me?

If you are a Director, Partner, or Manager, it is important you understand the collection paths and the next steps if an invoice becomes 30 days or 45 days overdue. Hajera will be joining the Debtor meetings this month to cover the new Credit Control Policy.

If you need clarification or a refresher at a later date, please feel free to email Hajera at hajera.mozumdar@lbgroupltd.com who will be happy run through the procedure with you.