Tuesday 3rd December
11am-12pm
Online Meeting
11am Welcome & Introduction
Barry Cullen, Partner & Solicitor, recLAW
11.05am APSCo update
Sushil Sidhu, Global Finance Director, APSCo
11.10am Hacks to keep your recruitment cash flow flowing
In this session, Barry will share essential tips and lead discussion on proactive credit control strategies specifically for recruitment businesses. By adopting effective housekeeping measures, recruiters can minimise the risk of payment issues and streamline their credit management processes.
Key Discussion Points:
- Implementing an Effective Credit Control Strategy:
- Understand the importance of credit control from the outset of the client relationship.
- Establish clear invoice procedures and payment timelines with new clients.
- Maintain effective communication to verify receipt of invoices and address potential issues early.
- Safeguarding Against Future Payment Issues:
- The value of partnering with a collections specialist for escalated non-payment cases.
- Explore the benefits of trade credit insurance to mitigate losses from client insolvency.
- Maintaining Communication:
- The necessity of regular check-ins with clients throughout the invoicing process.
- Techniques for fostering an open dialogue to resolve issues promptly and effectively.
- Professional Escalation Procedures:
- Establish a clear and consistent credit control process with defined escalation points for overdue payments.
- Strategies for following through on threats of action in a professional manner to encourage timely payments.
11:55am Feedback & close
Key takeaways:
- The importance of setting clear terms and sticking to them
- Building relationship with accounts contacts
- When to partner with specialists
- Having a plan before nonpayment occurs
Who should attend:
Recruitment members responsible for credit control.
