Credit Control Solutions

Being Careful in the Current Economic Climate pays Dividends!

As most of you will already know, Credit Control Solutions are specialist providers of:

• Outsourced Credit Control & Credit Management Services

• Credit Control Help & Credit Control Advice & Credit Control & Credit Management Consultancy & Credit Control Training

• Credit Control Software

• Debt Collection & Debt Recovery

• Direct Debit Services

• Accounts Department Outsourcing

We had a quarterly review with one of our existing outsourced credit control customers the other day. They are in the Drinks Vending Machine business. As well as supplying vending machines, they also sell the drink ingredients for the machines.

They currently have 1800 live customers on their ledger

They mainly supply Pubs, Clubs, Restaurants & Takewaways. Their business has been severely hit by the current economic situation:

• Pubs, Clubs, Restaurants & Takeaways are considered to be a luxury purchase by the British public and they are therefore spending far less money in this sector, this in turn means that lots of businesses within this sector are going out of business resulting in more bad debts for our customer.

• The finance companies that finance the leasing of the vending machines are turning down most finance deals

In addition to the above there were also other issues affecting their cashflow (cash flow)

• Staff were despatching goods even though the account was "on-stop"

• Staff were not dealing with the customer queries we were raising (they presently have 767 queries outstanding beyond 30 days with a value of £144,568)

• Staff were not taking deposits against orders for new customers

In order to combat these issues we agreed to help them implement the following changes:

• Management to enforce a properly defined on-stop policy with their staff

• Software developer to configure system to dis-allow orders to be processed where there is an overdue balance over 30 days old without managements authorisation

• A member of the management team is now responsible for ensuring that all customerr queries are dealt with within the agreed turnaround time of 7 days.

• For smaller businesses they are going to have a "1 order outstanding rule" If a customer places an order and they already have an existing unpaid invoice, this will need to be paid for by credit card prior to despatch of the new order. (only management can override this)

• Start accepting payment by Direct Debit

 The effect

• It will give management more control over who they do business with. If staff try to ignore the on-stop policy they will be disciplined accordingly

• Significant reduction in bad debt

• Significant reduction in queries outstanding past the agreed turnaround date

• Significant cash flow (cashflow) improvements

• More control over when they are paid

Credit Control is more than just making telephone calls and sending out letters. it is about ensuring that proper controls are in place throughout the entire business. Only once these controls have been properly established will credit control become easier and cash flow improve.

We work with our customers to make sure that we are as effective at credit control as we can be. This often involves us being open, honest and very frank with them. Some of our customers hang off our every word and make our life easy and others require some convincing. The point is, we always get there in the end and our customers will be eternally grateful to us for this. To find out how happy our customers ar why not visit our testimonials section on our website

Jamieo "Making Your Cash Flow"

Careers @ Credit Control Solutions

Due to continued success and expansion, we are looking for more staff! We have started to advertise available positions on our website 

 

Credit Controllers Needed to work for Outsourced Credit Control Company

Due to an expanding client base, we are always keen to meet with candidates who have some previous credit control experience, who would be interested in joining our team.

We are very keen to recruit dedicated individuals who can work on their own and as part of a team. We are looking for part time and full time employees. 

 

We can offer the opportunity to join a fast-growing established company where going to work is a pleasure and not a chore. We expect hard work and dedication, but in return we provide a friendly, relaxed working environment and a competitive salary with benefits.

 

So if working for a dynamic and progressive local business is for you, please e-mail  us your CV with a covering letter detailing why you think we should employ you.

 

Sales Professionals Needed to work for Outsourced Credit Management Services Company

We are keen to meet with sales professionals who have experience and a proven track record in working within the outsourced credit control industry.

 

We are looking to recruit individuals who can work on their own to generate leads and to close sales.

 

We can offer the opportunity to join a fast-growing established company where going to work is a pleasure and not a chore. We expect hard work and dedication, but in return we provide a friendly, relaxed working environment a basic salary along with a very generous commission structure.

 

So if working for a dynamic and progressive local business is for you, please e-mail us your CV with a covering letter detailing why you think we should employ you.

 

Jamieo "Making Your Cash Flow"

Direct Debit Service Launch!

We have just launched a new direct debit Service in conjunction with a couple of direct debit processing providers.

If you want to be paid on time, almost every time, you need to start taking your payments by Direct Debit.

Contrary to popular belief, Direct Debit is now available for use by small businesses and the costs of providing you with the scheme more than pays for itself!

Direct Debit is a secure and safe way of receiving payment and your customers are protected by the safeguards of the Banks Direct Debit Guarantee Scheme.

We have teamed up with a couple of Direct Debit Scheme providers. Between us we are able to offer you a Direct Debit Service backed up by a credit control service to deal with Direct Debit failures.
 
This service is aimed at:

• Small, medium & large businesses who raise a minimum of 100 invoices per month (there is no upper limit on the number of transactions we can process for you)
• Companies that are looking to establish a new direct debit scheme
• Companies that have an existing direct debit scheme with another provider who are fed up using their time & resources (not to mention the expense) in managing the process themselves

How it Works

The Direct Debit  Provider will:

• Set up a Direct Debit originator number on your behalf with the bank
• Collect monies from your customers directly into your bank client account
• Account to you for monies collected

Credit Control Solutions (CCS) will:

• Help to convert existing customers to pay you by Direct Debit
• Send out Direct Debit Mandates to your customers
• Set up new Direct Debit payers for you with the Direct Debit provider
• Put together your Direct Debit Batches for you (A list of your customer accounts to be debited) and e-mail to the Direct Debit provider.
• Deal with any rejected or failed Direct Debit items (ADDACS, AUDDIS OR ARUDD), by importing them into our Credit Management Software and chasing until payment is received
• Allocate monies received by Direct Debit on to your accounts software

With our unique blend of services you will benefit from:

• Better & assured cash flow (95%+ of monies will be collected by Direct Debit. (those that fail to pay you by direct debit will be collected via our credit control process)

• More control over customers (we will provide you with reports that make it easy for you to decide those customers you wish to keep and those that you no longer wish to deal with)

• Huge time Savings
• Increased customer retention
  Customers not forgetting to pay you
• A much lower risk of bad debt

If you want to be paid on time almost every time and for those that don’t pay to be chased diligently and monies collected through our credit control process, then please visit our website for further information

Jamieo "Making Your Cash Flow"