What does credit control aim to achieve?

Credit control primarily aims to manage a company's credit policy, ensuring that the business receives payment for the goods or services provided within a timely manner. The practice involves monitoring and managing customer accounts, establishing clear terms of credit, and evaluating customer creditworthiness.

Chasing customers for payments is a key aspect of credit control, as it helps maintain cash flow and reduces the risk of bad debts. By ensuring that customers pay on time, a business can stabilize its finances, reinvest in operations, and ultimately enhance its profitability.

While aspects such as supplier pricing, inventory management, and service expansions are important in overall business strategy, they do not directly relate to the core goal of credit control, which is to secure timely payment. This focus on customer payment dynamics is what makes the answer regarding chasing customers for payments the correct choice in the context of credit control objectives.