How Valuable Is Your Time?

How Valuable Is Your Time?

A lot of businesses have had to adapt their model to survive the Covid-19 crisis, with some quickly diversifying their offer or becoming much more agile in how they delivered it. There has also been a period of enforced reflection for a lot of business owners who have had time to really think about how […]

A lot of businesses have had to adapt their model to survive the Covid-19 crisis, with some quickly diversifying their offer or becoming much more agile in how they delivered it.

There has also been a period of enforced reflection for a lot of business owners who have had time to really think about how they structure their company and what they can do to drive their business forward and navigate a way back to being profitable.

Streamlining and being more productive in all operations has been a big focus, with employers no

w understanding that flexibility is key. Home working and virtual meetings have been the norm and have left people realising that a lot of time that was spent in physical meetings may not actually be a productive use of staff time.

Time is a valuable resource to any business owner. Ensuring that their, and their staff’s, time is used as productively as possible is key to being more profitable. Along with time, another crucial component of the success of a business is cash flow, and this is where valuable time can be lost to a lot of businesses.

All businesses rely on being paid for goods or services provided. This is what generates profit and keeps a businesses’ cash flow healthy allowing it to pay staff, expand product lines or services and invest in the future growth of the company. However, this transaction is not always as straightforward as it should be.

The time spent chasing late payment is cited as the biggest obstacle facing business clients and not having the resources available to recover money owed is one of the most common reasons given for failures.

Chasing customers for late invoices is time-consuming and stressful with some business owners resigning themselves to writing off the money owed as a bad debt. Other businesses ask staff members to chase late payments, often with little or no training and this can also be a waste of time.

As we move forward into the ‘new normal’ using the same methods that have cost you time and money to chase up invoices doesn’t make financial sense. Partnering with an expert in the field who has the time and resources to fully understand your credit management issues, and who can analyse your situation to find the most effective and appropriate solution is a good way to adapt, streamline and drive your business forward.

Partnering with an established and ethical company like Daniels Silverman to do this work means that you do not have to find the extra hours and remove yourself from the operational duties of the business and your staff are able to concentrate fully on their roles, it could be one of the best business investments you make post-lockdown.

We are a long-established, family owned and professional company. Our staff are expertly and ethically trained, and we are proud of the relationships we have built with our clients ranging from blue chip multi-nationals to smaller SMEs.

With years of experience in credit management we provide a white label service that puts you back in control of your finances. Our service includes:

• Identifying those customers who may be a high credit risk to your business through performing due diligence on your behalf before you start to work with any new company.

• Credit checking potential customers, which should be a key component of any robust credit management service.

• Maintaining good relationships with your clients. Our white label service is designed to ensure that the price of getting paid is never the loss of a customer.

• We work alongside you and make every effort to fully understand your business and your client base. Acting on your behalf, we give your clients friendly and professional reminders of their outstanding invoices. This allows an open line of communication for your clients should they have any queries or issues around their invoices and ensures a high level of success on getting them paid.

• You need to know where your accounts are up to in order to plan effectively for your business. This is one of the reasons that Daniels Silverman charge a flat monthly fee for their services instead of charging commission. This puts you in control of how much you spend based on the number of invoices to be collected.

• We provide same day service, so you know exactly where your accounts are up to, keeping your accounting systems accurate.

If you think your time is valuable and would be best used working on your business, why not get in touch today to find out how we can help to support you do just that? You can contact us via the website where we have friendly staff waiting to talk, or you can give us a ring to speak to us about your business and see how we can help.

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