Credit Management Services

Many directors and business owners will agree with the sentiment that “the customer is king”. Occasionally, however, things go wrong and trade disputes or customer insolvency issues arise. Whilst organisations outwardly focus on delivering great service, they should remember to protect their own interests through effective credit management. Using best practice tools and techniques, credit management can help to deliver smooth business dealings and strong relationships with clients and suppliers.

Understanding the risks of poor credit management

Even successful businesses realise, sometimes too late, the impact that poor credit management can have. Prompt payment, on-time deliveries and building customer relationships are all factors that can be negatively impacted when credit management goes wrong.

As a result, trade disputes and customer insolvencies inevitably arise, and the system of protocols and court procedures that ensue is, for many, unchartered territory.  By way of example, there are numerous types of insolvency procedures and if one of your suppliers goes insolvent, the effect of each on your business will be determined by the quality of your customer contracts and any personal guarantees in place. This can be particularly worrying when unusual or large-scale projects fail.

Shulmans’ five pillars of successful credit management

Using the pillars outlined below as a joined up approach will strengthen your position at any stage in your trading life cycle.

Robust commercial contracts

When it comes to commercial contracts, prevention is better than the cure. Our commercial specialists can help you to establish robust trading contracts. Up-to-date, bespoke terms and conditions will protect your business as well as improving trust with your customers and suppliers.

Understanding insolvency

Understanding the procedures and options available to you could bolster your creditor position before ‘red-flag’ events occur. In such situations, it’s imperative to contact our experienced insolvency experts, as soon as possible. Moving swiftly means we can arrange representation for you at key meetings as well as lodge claims on your behalf.

Maximising debt recovery

Chasing debts can be worrying. Our debt recovery team has the tools and strategies to help. From completing the right paperwork to appointing a suitable insolvency practitioner, our expert guidance can hugely improve your debt recovery rate.

Resolving disputes

If you end up in a dispute with a customer, you will need commercially sensible advice and representation. Our team works strategically to navigate the relevant obligations and court procedures to deliver the best possible conclusion. Working quickly, effectively and drawing on the skills of specialist advisors (including non-legal experts where appropriate), will all help to achieve the outcome that best suits your commercial objectives.

Training to improve performance

Improving in-house credit management skills will assist your team in spotting potential risks early and dealing with them swiftly. In the long-term, training from our team can save money and will encourage cross-team participation inside your business.

How we can assist

Shulmans puts into practice any or all of our above five pillars, tailored to your individual requirements. Our Credit Management Services team draws expertise from across our specialist areas to provide a bespoke, ‘one-stop shop’ solution to maximise your trading protection.

We provide practical help fast, as well as reliable advice to suit your specific needs.

Our Credit Management Services booklet explains more about Shulmans’ fast and effective solutions.

Our team

Emma Roe

Partner

Head of Commercial

Direct Line +44 (0)113 288 2817

Mark Wilkinson

Partner

Head of Insolvency & Credit Management Services

Direct Line +44 (0)113 297 1862

Sara Souyave

Associate

Head of Debt Recovery

Direct Line +44 (0)113 297 8944

Richard Wadkin

Partner

Dispute Resolution

Direct Line +44 (0)113 297 7728