We have already stressed in the past the
importance of credit control. It's even more critical in a difficult business environment to ensure that you only extend credit to those clients who will pay you. You don't have to rely on luck however. There are many tools that allow you to monitor your clients and be alerted they start showing signs of financial difficulties. But until now those tools have been very expensive and therefore most small businesses have been unwilling to use them.
That's not the case anymore. At TaxAssist Accountants, we have teamed with
Red Flag Alert to get extensive data from which you can now benefit. Be it sales, credit control, collection, risk or compliance we have information on every limited company, every PLC, LLP, 3.5m sole traders and 26.7m director records. The data source comes from Companies House, London Gazette, Central Register and Equifax, which provides data intelligence and protection against credit risk. Using those tools you can now:
Monitor your risk
We can provide 'real time' critical automated e-mail alerts when a company being monitored starts to deteriorate. Using various detrimental triggers, we will notify you of changes to your customer/supplier status as they happen, in order to minimise your risk exposure.