Credit Collections UK Ltd offers a cost effective outsourced solution for your credit management requirements which will cut the cost of your credit management procedures & staffing levels whilst improving your cash flow & reducing your debtor days.
Your credit management procedures can easily be outsourced to Credit Collections (UK) Ltd leaving you free to concentrate on your core business. You need do nothing more than supply Credit Collections (UK) Ltd with a copy of your aged debt report & our experienced credit management team using the latest credit management computer software will do the rest. Alternatively, simply submit your unpaid accounts to us online & let Credit Collections (UK) Ltd undertake your credit management activities on your behalf.
Credit Collections (UK) Ltd will work to credit management rules agreed with you in advance to ensure that all of your customers adhere to your credit management terms. These rules are applied to all of your customers without preference or influence therefore no customer can fall outside of your credit management conditions.
By outsourcing your credit management activities you ensure that your credit management policies are enforced every month without fail & are not subject to staff absences or holidays.
The cost of outsourcing your credit management activities is often less than employing further staff in your credit control department. You can also rest assured that only credit management staff with the relevant experience & qualifications are handling your credit control requirements.
You may well be surprised at the cost to your business of not having a well defined credit management procedure in place. Suppose your business is due an overdue payment of £5,000.00. For each day that amount is outstanding it will cost your business £0.82 in interest (6%). Now, multiply that across all of your overdue accounts & you will soon see that effective credit management is a priority for all businesses.
Suppose that the £5,000.00 remains unpaid because your business does not have the correct credit management procedures in place to recover it. If your net profit margin is 4% then the value of the £5,000.00 in sales is £125,000.00. That means that your business income is reduced by £125,000 as a direct result of not having effective credit management procedures in place. On a turnover of £2.5 million, reduced to £2.375 million with this single £5,000.00 debt, your business would have £31,250.00 less profit. You will now be able to see the true cost of not having an effective credit management policy in place.
For a fraction of the cost of the lost profit on one unpaid debt of £5,000.00 Credit Collections (UK) Ltd can ensure that you have an effective credit management policy in place & that all of your customers adhere to your credit management terms.
1 Sheffield Road
Tel: 01246 411931