Solutions
CollectIQ Credit Management are providers of outsourced credit control, debt recovery to the SME and corporate market. In today’s economic climate many businesses can find themselves facing problems with late payment of invoices and bad debt resulting in detrimental effects to an organisations cashflow. Credit control outsourcing will enhance this fundamental part of your business; CollectIQ brings a more focused and proactive approach to your collections, whether your requirements are a fully outsourced solution or enhancement to existing in-house function. This results in improved cashflow and working capital, reduced lending and a reduction in both debtor days and potential bad debt. CollectIQ debt recovery solutions are used in situations where formal credit control ceases to initiate payment from the debtor. From aged debt to legal recoveries CollectIQ can tailor a solution to meet your requirements.
The challenge
Every business is different, yet they all have one thing in common; the challenge to ensure the business gets paid on time.
As simple as this sounds, it can be the one headache businesses find difficult to cure. In many instances, there are additional
barriers to overcome, such as cross-border trading or disputes to resolve. Poor cashflow can be the root cause of many financial
problems for a business so getting the credit management function right should be a key priority.
Outsourcing all or part of your ledger can have a positive impact on the cashflow of your business.
At CollectIQ we have an experienced team of collection specialists that can work alongside your existing credit team to provide
tangible, hands-on support to drive cash collection and dispute resolution.
We offer clients more than the simple processing of their collection letters. We help you think like a
marketer so that more of your letters get
opened and, once opened, produce more results. Debtors are more sophisticated than ever.
They know how to recognise a collection letter while it’s still in the postbox. They don’t answer the phone. Doing what’s always been
done no longer produces results.
We can also help you test different strategies. We help you produce more effective mail.
Outsourcing your credit control couldn’t be easier. You simply provide us with an up to date customer list and a ledger on a regular basis, and we do the rest, or as with many of our clients we can work directly on your system by secure remote access.
We will recommend a course of action based on our experience in cash collection techniques, structured around your terms of trade.
We are pro-active in our chasing; we contact your customers before the invoices are due to ensure any queries are dealt with promptly.
All payments from your debtors will still go direct to you – we do not handle any money.
We provide risk assessment and ongoing credit risk management of your top customers which helps to avoid potential bad debts e.g. director change, deteriorating balance sheet strength, insolvency, etc.