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We can carry out rapid cash generation to help fund the turnaround, recruit and train staff, introduce procedures and policies and meaningful reports to ensure the Director is fully aware of any current situations.
Issue ? FMCG Client had a new credit team in place, however insufficient experience and skills to ensure the entire ledger was chased. Supplying to supermarkets - who habitually issue debit notes, our client's ledger was rapidly becoming unmanageable.
Solution ? using our client's existing software, we took on the older part of the ledger and on a % fee basis, chased the debt to establish where the source of the disputes were. This allowed the company to put in place procedures across their distribution depots to reduce the disputes created.
This, in turn, left the existing team with the current ledger enabling them to ensure the accounts were kept as up to date as possible.
Result ? In 4 months the disputes were substantially reduced, relationships with customers were improved, DSO were reduced by over 18 days. The ultimate result was the company was sold on a profitable.