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What are the benefits of credit control software?

Answering all your questions on credit control systems - from what it is to what the key benefits are.

Today we're answering all your questions on credit control software - from what it does to how to utilise it within your business.

What is credit control software? 

Credit control software is a piece of software business owners use to manage their credit. This software manages when payments are made, chases overdue invoices, and generally oversees when money is leaving the business bank account. 

Who runs the credit control software? 

Anyone can run credit control software if it’s automated, but manual softwares take more experience and knowledge to run. Many larger corporations employ a dedicated credit control team, and some medium businesses employ a credit controller, or even outsource their credit control to an external company. However, with the introduction of automated credit control softwares, this doesn’t have to be the way. With itsettled’s automated credit control software, anyone in the business can manage the software - it’s that easy to use. 

Why should you use credit control software?

Using credit control software in your business has a huge range of benefits. It will save you time, improve your cashflow, and reduce stress, on both the managing director as well as the amount of stress employees experience. 

What are the key benefits of credit control software?

1. Smoother processes and better admin

With an automated credit control software such as itsettled, you’ll have a smoother invoice collection process. This will make administration tasks easier to complete in less time.

2. Improved Cashflow

Collecting your invoices faster = more cash in your bank account quicker. A healthy cashflow is vital to the success of your business. Not only does it allow you to run your business without worry, but it can also give you the confidence to expand and build new offerings. 

3. Peace of Mind 

When you use a refined and proven credit control software, you’ll find peace of mind in having an automated software that takes care of everything credit control related. Instead of stressing about whether clients have paid you, you’ll be able to sit back and know that invoices are being chased with consistent and appropriate communication. 93% of invoices uploaded to itsettled's software have been paid. 

4. Improved Credit Score

One of the many benefits of using a piece of credit control software is that your business credit score will undoubtedly improve. 

5. Saved time 

Think of all the time you’ve spent chasing invoices as a business owner or director. Then think of what you could have been doing during that time - making more connections, gaining new clients, and engaging with your current clients more. With itsettled’s automated credit control software, you can get that time back. 

Should you outsource your credit control? 

If you’re a small or medium business, you don’t necessarily need to outsource your credit control to get excellent results. When you use a software like itsettled, you can leave the automated software to do the work - giving you more time and energy to focus on your business. Easy to set up and completely automated, itsettled requires very little participation on your part. Seamless accountancy software integration saves even more time, as you can pull across invoices instead of manually uploading them. 

itsettled’s automated credit control software

itsettled was co-founded by Glen Morgan FCICM, an expert within the credit control industry. Glen’s 28 years experience has enabled him to create the perfect credit control software - every communication sent on your behalf is carefully worded to be as effective as possible. As part of your itsettled package, you’ll receive free access to credit reports, as well as partner offers and advice from our credit control experts. 

You can begin your journey to better cashflow with itsettled’s 7 day free trial. Sign up here - and if you’re still not sure, you can watch this quick demo video

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