Managing customer credit risk and debt recovery requires both tactical short-term solutions and strategic long-term planning.
EFF offers comprehensive credit management services covering immediate needs and sustainable financial stability.
With over 15 years of expertise, our tailored strategies drive results.
Speak to the VAT Return experts
When cash flow issues require quick resolution, EFF provides:
Our priority is generating quick results to resolve pressing credit control and collections issues impacting day-to-day operations.
Neglecting credit management and debt recovery can severely impact an organisation’s financial health and stability over both the short and long-term.
Common consequences of poor credit control practices include increased late payments from customers, higher delinquency rates leading to unrecoverable debt and write-offs, and revenue losses from offering lenient terms or excessive credit to risky customers.
In the short run, lacking credit management procedures can starve a business of the cash flow needed for daily operations and meeting immediate obligations like payroll and supplier invoices.
Over the longer term, consistently late customer payments and write-offs erode profitability. A company may resort to risky financial manoeuvres like taking on high interest loans to offset the working capital deficit.
The business loses out on opportunities for growth and innovation due to the time and resources spent chasing payments owed. Their strained cash flow makes it difficult to invest strategically for the future.
EFF combines dedicated account management with powerful technology:
Our experts become an extension of your team to meet both immediate and long-term credit management goals.
Effective credit management processes are crucial for remaining compliant with an array of legal and regulatory requirements. For example, debt collection activities are subject to various consumer protection laws that dictate how to follow up on late payments legally and without undue harassment of customers. Data privacy regulations also come into play regarding use of credit reports and protecting sensitive customer financial information.
Anti-money laundering and knowing your customer regulations require businesses to properly vet clients before extending credit. Ongoing credit monitoring helps alert companies to any suspicious transaction activity. Adhering to accounting standards and practices when writing off irrecoverable debts is also an element of compliance.
EFF keeps up to date on all relevant regulations globally and ensures credit management programs meet requisite standards. This prevents potentially significant fines, lawsuits, and reputational damage from non-compliance.
Short-term credit is extended for a period of less than 12 months, often 30, 60 or 90 days. It addresses immediate working capital needs. Long-term credit exceeds 12 months, allowing customers to finance purchases over years rather than months.
Common short-term credit examples include trade credit like net 30 terms, revolving credit lines, inventory financing, and short-term business loans or notes with maturity dates under one year. These enable flexibility in managing near-term cash flows.
Long-term credit instruments include term loans, bonds, mortgages, and leases exceeding 12 months. This type of financing provides capital for long-term investments and growth strategies.
The five C’s of credit evaluation are capacity, capital, conditions, collateral, and character. Assessing these factors helps determine a customer’s ability and willingness to pay obligations as expected.
Yes, HMRC has the authority to check business bank accounts when investigating potential cases of suspected VAT fraud. This allows them to identify discrepancies between declared VAT returns and actual amounts deposited from sales transactions. Maintaining accurate books and records provides audit protection.
"I would strongly recommend the services of EFF. We have transferred a large part of our AP processes to EFF. The transfer was very efficient and unbureaucratic. The employees of EFF are very ambitious, focused and it is a pleasure to work with them. Thus we were able to increase the reliability and quality of our AP with the same number of employees. Through the competence and experience of EFF, at a good value for money, we can concentrate better on our main business."
Jorg Schulz
Sales Director, Haldex
"We at Euroflorist are very pleased with EFF's high competence and ability to adapt to our changing needs."
Per Gränse
CEO, Euroflorist
"Duni EFF are tax professionals in the European Union. In cooperation with them, I especially appreciate the individual approach to each case. In international sales, there are often non-standard situations, from which they always find a way out. Their experts have extensive knowledge and provide it in a very accessible way. Duni EFF is a proven, reliable partner in business."
Miłosz Wójcik
Chief Product Officer, Nethansa
"Across the years of working with Duni EFF, we developed a fantastic professional relationship. Nothing was ever too much or too little for them to help us with. They were very efficient and knowledgeable, you could say I learned a thing or two from them! It was a pleasure to work with them."
Sophie Thompson
Payroll Specialist, Cloetta
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