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Then working together with you we will introduce enhanced methodologies, training your staff and making sustainable improvements to the effectiveness of your credit team.
Our staff have many years experience of managing teams of credit controllers, with innovative motivational techniques to achieve real results improving your financial results.
Issue - £1.3m of Sundry debt, no clear idea of the collectability of the ledger. Some accounts had not been chased for some months
Solution – A review of their current accounting software established that there were various functions not currently being used, by introducing diary driven collections, using status codes, we could establish what was collectable and ensured all accounts were chased if appropriate. We also developed guidelines for the staff to adhere to, allowing the credit team to control how the accounts were being paid rather than the debtors.
Result – All debts now subject to status codes, allows a more accurate valuation of the worth of the ledger. Due to the nature of the account holders there are still a large number of old unpaid debts, however these are now either subject to legal action or being paid by regular, realistic instalments.