Customers’ accounts: maintaining dispute-free balances

24/09/2016

The primary objective of every business is to maximize profit. In view of the volume-driven nature of some companies ' businesses, number of customers and spread (over wide coverage area), etc., they cannot but transact on credit basis (buy and/ sell). This is especially true of multinational, construction, oil, beverages producing companies and banks, among others.

The impressive benefits from this nature of activities notwithstanding, it could be detrimental to the progress of the organisation if not properly managed. It exposes the company’s information to IT, human or deliberate error, thereby resulting in, bad debt losses, loss of income, overpayment to suppliers, payment for activity not enjoyed, dispute with customers, possible court litigation, among other things.

Our “Payables/Receivables Account Reconciliation Service” enables companies undertake a review of and establish the true position of their indebtedness to / against a customer(s), using an independent professional hand.

The service could translate into several millions of Naira in cost saving and cash recovery, thereby increasing the company’s liquidity position, reducing bad debt losses and facilitating better profit performance, among others.

Because it is a dedicated exercise, company will have a result and derive benefits never to be enjoyed under a statutory audit exercise.

Call or mail us today to book a free review exercise.