Every company has different procedures to invoice and collect cash. It is quite common in larger organisations to have an account receivables/sales ledger fraught with a high level of queries, a backlog of outstanding accounts and allocation and payment errors. This often leads accounts to classify the customer, as a late payer or debtor with no fault to the customer.
Perhaps your accounts staff are struggling to cope with large invoicing volumes. Or your company may have acquired another company with a large debtor book, which needs to be reconciled before payments can be collected .
Our Sales Ledger Clean Up service will help you release back cash from the debtor book:
- the accounts will be fully reconciled
- your bad debt provision will be reduced
- your factoring and interest cost fees will be greatly reduced
We work with each client and their team to identify “Quick Win” payments, whilst working through the ledger. We identify reasons for non-payment based on queries outstanding. We analyse each account to maximise the collection activity.
Our Sales Ledger Clean Up service establishes which trade customers pay on time and are good customers to work with, therefore allowing you to expand trade, when required. It also enables the client to identify poor paying customers with potential bad debt, who require monitoring and tighter credit terms.
We also investigate internal processes, highlighting any areas where unpaid accounts are due to internal communication problems between departments.
Our service is flexible. It accommodates budget of all sizes by working on a fixed fee project basis + part commission on collections.
Speak today to our Virtual Credit Manager, Sophie on + 353 (1) 21 96 477 to discuss this service in more detail.
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