What is it?
Cash is the lifeblood of your business. Outstanding invoices cost you money and can expose your business to the risk of a bad debt. To avoid this, you need experienced credit controllers with good systems and processes to deliver an effective credit control function. Skills that may not be available or are too costly with many firms relying instead on customers goodwill to pay monies due.
Our outsourced credit control solution removes the hassle of chasing and collecting payment saving you time and money. Your dedicated credit controller will work with you to understand your business and your customers. They will deliver a full credit control service from confirming there are no issues with the invoice, sending reminder letters and maintaining regular and consistent communication with your customers to ensure faster invoice payment. You can review your online account to see who has paid. We can also support you in the event of non-payment by providing a fixed cost litigation service. The service can be either confidential, so your customers do not know we are involved, or disclosed.
Saves you time
Our expert teams can handle your entire credit control and sales ledger management leaving your free to get on and run your business
We are confident our service can reduce the potential of non-payment and late payment which all reduce your average debt turn speeding up cashflow
Reduced levels of borrowing
With improved cashflow it can mean that you can reduce the levels of external finance required
Our collections service means you don’t need to employ a full credit control team
Reduces your business risk
By speeding up collection of debts, it can reduce your levels of bad debt
Negotiate trade discounts
With improved cashflow you can negotiate early payment discounts with your suppliers
You remain in control
Our online system means that you can stay in control by reviewing who has paid and a summary of our contact
Peace of mind
We carry out credit checks on your customers and include debtor protection should your customer be unable to pay you
How does it work?
1. Your dedicated credit controller agrees with you the contact strategy with your customers which will be a mixture of reminder letters, statements and telephone contact
2. You send us copies of your sales ledger
3. We contact your customers to collect payment always treating them politely as you would
4. We provide monthly statements and will collect invoice payment from your customers
5. We pay you the value of the invoice minus our fees
What types of business can benefit?
Our outsourced credit control solution is most suited to businesses with up to 300 debtors and who are looking to free up valuable time to spend chasing new business rather than invoice payment.