Haines Watts

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›	Welcome	›	Debtor Management	›	Information is Power
	Foreword by our Managing Partner [CUSTOMISE]		Managing in tough times - properly managing debtors		We investigate how to maintain a healthy business

›	Disaster Recovery	›	Debtor Top Tips	›	About Us
	How a robust recovery plan ensures your survival		10 top tips - routines and regular checks		What makes the Haines Watts offering unique

Better information means better management

In this issue of Red we are looking at information - financial information and managing debt, business information leading to rational decision making and disaster recovery; how to protect the data in your business when things go wrong.

Good Debtor Management is absolutely vital in these tough times. We outline how to keep an active eye on your debtors and your cash flow to minimise risk and improve the efficiency of your business.

In addition, our article on Information is Power shows how to extract core information from your business to deliver more effective business decisions. Minimal effort can deliver high quality results.

And what would happen if you lost all your business data? No one wants to think about Disaster Recovery but it's probably the most cost-effective insurance you'll ever purchase.

If you have any questions about anything covered in this issue, or queries about any other financial issues, please do not hesitate to contact us.


	Andy Minifie, Managing Partner

[NB. PICTURE AND SIGNATURE IMAGE ARE OPTIONAL]

Managing in Tough Times - Debtor Management

Information is Power

Preparing for the worst - Disaster Recovery

Advice on properly managing the recovery of your debtors.

Read article

We investigate how keeping your finger on the pulse with a robust management information system is key to maintaining a healthy business.

Read article

We examine how a robust recovery plan could ensure your survival if your company suffers from a major data loss.

Read article

Top 10 Tips for Debtor Management

The key to good debtor management is routines and regular checks. It's just common sense, the companies that get into trouble tend to be those that ignore the basics."

Our Top Tips

Set out clear policies for your payment terms.
Carry out a credit check on new and existing customers.
Issue invoices promptly.
If someone misses the payment due date, start the collection process the following day.
Speak to debtors to understand why they have missed the due date.
If a customer is experiencing difficulties paying, agree a new schedule of payments.
Monitor your debtors listing daily.
Issue regular interim invoices for long term projects.
Consider offering a discount for prompt payment.
Don't be afraid to stop giving credit if an account becomes long overdue.

is brought to you by Haines Watts

Whatever the size of your company, Haines Watts has a broad range of services to suit your needs. From accountancy, tax, VAT, financial services, expense control, corporate finance and business advice, we have the market understanding and expertise you need to make a difference to your business. With over 50 offices around the UK, our aim is to become the premier adviser to the owner-managed business sector in the UK. We are able to offer a comprehensive range of national services without losing the personal attention to detail at a local level. This combination makes the Haines Watts offering unique. For more information on how Haines Watts could benefit your business, visit our website.

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