In this scenario, where the business has poor Credit and Cashflow Management and needs to generate cash fast to assist with turnaround, we follow a 4-stage process as detailed below, which is proven to maximise the result for our Client, whatever the situation we find.

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
• Backing paperwork and their validity
• Staff, current and historical
• Credit Policy and Procedures

Whilst on-site, we will thoroughly analyse all aspects of the Debt to understand why the Overdues are so high.

We call on our extensive expertise in all industries to look at the reasons for the Overdue Debt and provide actionable suggestions as to how to release bottlenecks on Cashflow.

Our MD, Glen Morgan, usually gets personally involved in these, as he has over 23 years’ experience in improving Processes and reducing Overdue Debt for clients, ranging from major Blue Chip Companies to SMEs, and he prides himself on being able to greatly assist in any business in any industry.

Following this initial review we will report on our findings and suggest the best possible next steps to get the business generating the maximum amount of cash quickly

THERE IS NO CHARGE FOR THIS INITIAL VISIT, REGARDLESS OF OUTCOME

Assistance can range from monitoring collections through to taking over the Credit Management and Collections of the company for an interim period.

Following our visit and report, there will be one of the following requirements, each with a different solution.

1. Ledger Intensive Care and Policy & Procedure improvements

We can take over the Collections, either completely or for a period of time, and engage directory with your Client to improve things quickly.

Whilst doing this we will also review and improve all Collections processes, Query Management and even assist with Staff changes and Recruitment to make your Client fit for purpose and able to deal with Collections effectively on an ongoing basis.

2. Assistance required with some old stubborn Debts and Debtors

We will accept a partial instruction to maximise recoveries from just the 90-day-plus Debtors, the ones that you have already disapproved and therefore 100% of the money is due to your Client. This improves Cashflow very quickly.

3. Fresh Air Invoicing discovered

Please see our range of services as detailed on our Irregular Audit or Fraud Suspected Scenario pages.

4. Prepare for Collect Out 

We will carry out all the required preparations for a Collect Out, as detailed in our Prepare for Collect Out page.

During this time we report regularly to all stakeholders and ensure that all know the current position and future predicted cash position of the business.

Once the DSO and aging has been significantly reduced we will put in place systems to prevent reoccurrence.

At this stage we can also help with writing policies, recruiting staff or providing ongoing Credit Control support ourselves until all stakeholders are happy for us to disengage.

Whatever solution is required, we will work tirelessly to ensure that the cashflow is improved rapidly.

This can be on-site or remotely, whichever works best. We have dedicated phone lines to ensure confidentiality when required, although some Clients prefer the impact of disclosing our involvement.

Our ultimate aim is to either improve things quickly and provide the tools to prevent issues from re-occurring, or provide a safe landing into Collect Out by providing Pre-Appointment Credit Control for as long as required.