As July marks the beginning of a new financial year, many businesses take this opportunity to reset, reflect, and plan for the months ahead. Whether you’re a small business owner or managing finances for a large organisation, now is the ideal time to ensure your credit management practices are supporting, not hindering, your long-term success.

Review, Reflect and Realign
The start of the new financial year is a natural checkpoint to assess how your business has performed financially. Reviewing your cash flow, outstanding receivables, and credit policies can highlight areas of improvement and allow you to set clearer, more strategic goals.

Ask yourself:

• Are we offering credit terms that align with our risk tolerance?
• How effective is our current debt recovery process?
• Do we have overdue accounts that need specialist attention?

Get Ahead of Arrears
Left unchecked, overdue accounts can quietly erode profitability. At TCS, we encourage clients to take early and proactive steps in managing accounts that fall behind. Even a quick reminder, field call, or phone follow-up can prompt payment before a debt ages and becomes harder to recover.

Leverage the Right Tools
The new financial year is also a good time to consider how tools like Equifax commercial credit reports, automated alerts, or regular ledger reviews can help protect your cash flow. Our team can support you in identifying higher-risk accounts and tailoring collection strategies accordingly.

We’re Here to Help
At Tasmanian Collection Service, we know that every business is unique, and we’re here to help you start the new financial year on solid footing. Whether you need support with a single overdue account or a full review of your credit policies, we’re just a phone call away.

Here’s to a strong and successful year ahead!