More than credit control

At Credebt we are proud to offer a full range of services to assist the Invoice Finance Industry, Insolvency Practitioners and Turnaround Specialists. We do so much more than collect outs alone, and wanted to highlight what else we can do for you.

Free Debtor Collateral Reviews

Following an initial conversation, we always suggest that the first step is to get us out to site to carry out a comprehensive Debtor Collateral Review. We do this initial review at NO CHARGE to you, regardless of the outcome. It includes:

On-site visit, usually within 24 hours but guaranteed within 48 hours, to thoroughly review the following:

• Order to Cash Process
• Aging Profile of the ledger and movements over recent months
• Details of any issues and queries
• Invoices and Backing paperwork
• Staff – current and historical, and procedures followed
• Reconciliations being produced
• Verification of Outstanding Balances if required

While on-site we will meticulously analyse all aspects of the debt against which your Funds are secured. We call on our extensive expertise in all industries to find issues and investigate them, before reporting to you with our findings and offer solutions on day one.

We have no set agenda other than to investigate and confirm the actual status and Real Value of the Ledger, and to propose sensible solutions that we can then follow up in a variety of ways as shown below.

As mentioned before, there is no charge for this initial review, regardless of the outcome.

Credit Control and Monitoring

Credebt have dealt with many scenarios where initially the best thing to do is to keep an eye on Collections, Invoicing Uploads and the Funds Out Position while the client works on improvements to their systems, resolving queries and getting things back on track.

We report as frequently as is required and ensure that all parties are always aware of the situation. This can be particularly useful when a Collect Out may be required, and the Funder trusts the business to deal with their own Collections to achieve a successful outcome.

By Monitoring the situation, we can be ready to step in at very short notice if the required progress is not made.

Face to face visits on your behalf

When a situation with a client is particularly delicate and you want to maintain good relations with them, whilst also finding out what is going on, we can visit them on your behalf.

This will allow you to get an independent view of the situation, and generally means that the client feels less like they are being investigated or chastised.

Our experience in dealing with a wide variety of businesses will give you the most accurate information, which you can then use to make your decisions.

Decision making support

We assist Insolvency Practitioners with a variety of services, including:

• Inputting an accurate Statement of Affairs Figure for Recoverable Debtors
• Suggesting timing of the Insolvency Process due to when large payments may be expected (particularly useful when dealing with Construction cases)
• Discussing stakeholders’ and chargeholders’ likely positions based on the Ledger values recoverable
• Valuing Debtors, Unbilled and Work in Progress for Sales, either in a pre-Pack or other Sales Process
• Providing Outcome Statements with a variety of scenarios so the IP can make informed decisions

New Business Development

We firmly believe that the earlier we are engaged, the better it is for the Funders and for the clients. So we can be with a client who might need additional funding, or who could benefit from a Turnaround Specialist, and we can signpost them to the right people.

Writing Policies & Procedures

This is for your Clients who have good intentions, but whose Collections are not really meeting expectations or who don’t seem to know how to improve things. You have probably been patient with them for some time, but now the Disapproved and Aging Amounts are growing, and the Facility is not running how it should.

Credebt have considerable experience in updating Policies and Procedures and even writing them from scratch. We always have in mind what the business needs to do to maximise their Facility and keep you, the Funder, on side.

As part of our service, we will ensure that the staff members dealing with Collections and Invoicing are adequate for both your needs and those of your Client. If required, we can assist them with training and even recruitment.

As the Client will see the benefit of this, we engage with them directly, at No Cost to the Funders.

Managed Exits

If things have reached the point where either you or the Client want out of the relationship, one way or another, we specialise in assisting with Managed and, more importantly, Controlled Exits.

This can range from improving the Debtor Position to make the business more attractive to an alternative Funder to preparing for a Collect Out, and will usually involve at least one of our other services.

Our absolute priority in this situation is to get you your Funds back. So whatever will achieve that for you, will be exactly what we assist with, while trying to maintain an amicable relationship with the Client.

If required, we can even speak to Alternative Funders on your behalf, once we fully understand the business and their processes, as well as the reasons for the Exit being required.

In short, Credebt are Managed Exit Specialists.

Discovering Fraud

Credebt have many years’ experience in dealing with cases in all industries, and when you suspect fraud, we suggest you contact us immediately to get us to do a Free Debtor Collateral Review. 

This can be done under the guise of a regular review, and because of our extensive experience, we know how to handle this sensitively and without causing unnecessary concern.

We have spotted several cases of fraud that were missed or unconfirmed by the firm’s auditors, IBR providers and other firms carrying out audits, so even if you have done your own investigations, it is well worth getting us involved.

We can also provide a day’s training to your staff on How to spot Fraud. This has been proven to be very effective in getting your staff better at spotting the signs of Fraud and knowing what to do next.

How can we help?

Remember that we are the experts in this field and we are more than happy to help you with any issues you may have.

Feel free to contact us for a no obligation chat in total confidence, or arrange your Free Debtor Collateral Review to find out your Position. 

Call us on 0845-6385256 or email info@credebt.co.uk