6 Guidelines for Effective Credit Control

6 Guidelines for Effective Credit Control for Subscription Services:

 

  1. Take payment up front if you can. Otherwise you could be providing the service for nothing if the customer cancels early.
  2. Take a deposit. This can be in addition to or as well as a “set up fee”.
  3. Try to obtain the client’s card or bank details so you can set up a regular means of payment, preferably by direct debit.
  4. Stipulate your credit terms, and stick to them. If your invoice says “Due on receipt” then chase immediately.
  5. Do not let arrears build up, as one month’s arrears can easily become three or four.
  6. Do not overlook a payment that a customer might have missed for one month.