Outsourced credit control services

Ensuring you maintain a healthy cash flow

An effective way to reduce your debtors

As you know, good cash flow is essential to running a successful business. Giving your customers credit might be good for sales, but if you don’t have the right procedures in place to collect the debts, your company will suffer.

The key to maintaining your cash flow is having strong credit control policies, including raising invoices and timely payment collection. 

Our outsourced credit control service can help you maximise cash flow, reduce the need for bank borrowing, improve internal credit management procedures, and reduce bad debts.

We can work completely independently from the main relationship you and your team have with your customers, removing the need for you to have the difficult discussions about money or unpaid bills, which can be damaging for ongoing relationships. 

Services designed around you

The team can tailor our services to your business. These include partial outsourcing which supports your existing credit control function, to help you get back on track and sort out stubborn debts – and full outsourcing, which involves managing the whole collection cycle (phone calls, letters and statements). 

If you need emergency cover for holidays, maternity or sick leave, we can be on hand for this too.

Consultancy and systems reviews

We can set up a credit control department for you from scratch, including staff training, advising on a collection cycle, drafting collection letters and pre-action protocols.

We can also provide advice on your existing processes, this would involves a full review of your existing credit control function – policies, procedures and processes, team structure and responsibilities. We would then provide advice on potential efficiencies, introducing automation or potentially software systems which could be used.

The credit control systems we offer are designed to make it even easier to improve your cash flow. This can include gathering information about your customers and UK companies to help you establish suitable credit terms or assess your exposure. They can also help to generate reports, keep track of the chasing history as well as automating standard tasks, such as issuing statements, reminders and overdue notices.

Our Approach

We understand that every business is unique. That’s why our Outsourcing team adopt an individual focus that extends beyond advice; working together with you to help you reach the best possible outcome.

We can assist with the earlier stages of the collection cycle – reminders, chaser emails, and the issuing of statements. In order to keep the service to you as cost effective as possible, we would automate these earlier stages where possible. 

We can then escalate the chasing methods for stubborn debts, which don’t respond to the earlier stages in the credit control cycle. This would include using our internal credit control specialists to follow up with phone calls, direct email chasers and issuing payment demands where required.

Where payment is still not received after repeated chasing, we can escalate this further by threatening legal action through our credit control experts and issuing pre-action protocols and notices of legal actions.

If further action is required, we can work with our partner legal firm ‘Escalate’ who specialise in dispute and conflict resolution, they provide an opportunity to resolve disputes in a way that saves you money, time and hassle, whilst enabling you to continue running your business.

Escalate utilises a two-stage process: a period of intensive negotiation with corporate recovery experts targeting a settlement in under three months, and then, if necessary, litigation using specialist legal teams that are funded all the way to the High Court

If you have already exhausted all options on particularly stubborn debts, or you’re considering writing a debt off, then Escalate can assist with legal action with no financial risk to you – you won’t pay out unless a successful settlement is reached.

We can help

Contact us today to find out more about how we can help you

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