Credebt engaged directly with the Company and took over the Ledger in its entirety, at no cost to the Invoice Finance Company. We spent 4 months maximising the Cash Collection, whilst reviewing and reducing all bottlenecks with the Order to Cash process.

Two members of our Team were on-site several times each week to work through queries. Remote access to invoice, pad and bank systems were obtained to work as efficiently as possible.

We met up with some of the largest customers to assist with query resolution and we set up an adequate and effective Query Management System.

For the first month, we reported back to the IF Company daily, and weekly after that. We had conference calls or physical meetings to go through issues every morning at 10am for the first four weeks, and at least twice a week after that.

We collected £9.5m in 4 months, whilst reducing the Invoice Finance Facility down to £1.8m. Queried invoices were reduced from £1.5m to £212K.

We wrote a robust Credit Policy and Procedures Manual, which ensured the Company was Invoice Finance compliant. We assisted with monthly reconciliations and repaired the relationship between the Company and the Invoice Finance Provider.

We helped them recruit 2 Credit Control staff, using our expertise to find the right people for the job. We conducted the interviews and prepared their job specifications.

We exited the business after nearly 4 months as they were now in a position to successfully cope themselves.

We kept in regular contact with the client to ensure that things went according to plan. Over a year later we were still in contact and things were very much still on track, with a happy Client and their happy Customer.