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Good credit management and cash control are the keys to building a successful business...

Credit control can be time consuming and expensive to your business. Outsourcing your credit control to Access Credit Management can free up cash flow and time for your business and, contrary to popular beliefs, it can save you a lot more than it costs!

The debtor or receivables book is generally one of the larger assets of most companies. Effective management of the book is a continual challenge for business and requires ongoing monitoring:

  • How can your revenue cycle be improved?
  • How can your Days Sales Outstanding (DSO) be reduced?
  • How are your seriously overdue customers to be dealt with?
  • Can a debt considered to be a write-off actually be collected in full?

Access Credit Management continues to help companies manage and protect this valuable asset to ensure the performance of the revenue cycle to keep the DSO within accepted parameters.

Access Credit Management prevent potential bad debt through:

  • Outsourcing the management of debtors
  • Domestic collection
  • Recourse factored and invoice discounted debt collection
  • Pre and post year end audit collection
  • Collection of payments from exports

Given the current challenging business conditions and continuing pressure on costs, many businesses find it hard to justify the costs of a dedicated credit control specialist.

At Access Credit Management we provide an outsourced credit control service which can be on a disclosed or undisclosed basis. It is not a requirement that the whole of your debtor ledger be passed to us for collection, you decide which accounts are no longer cost effective for you to continue chasing. On inspection of the debtors it may become apparent that outsourcing may not be required and that our debt collection service is more suitable.

Outsourced credit control focuses on a company's balance sheet, because the invoice-to-cash cycle is where the most dramatic gains in efficiency, productivity and cash flow can be made.

The benefits of outsourcing credit control are:

  • Credit control availability all year
  • Daily availability of experienced credit control staff
  • Proven credit control policies and procedures
  • Seamless transfer to our debt collection service
  • Improved cash flow

Our fee for this service is tailored around your requirements and can be undertaken on a fixed fee basis for a month-to-month outsource or on a 'no collection - no fee' basis and is determined by the number of accounts, value and age of debt.

Call us today or complete our contact form

Outsourced Year End Audit Collection Service

Credit underwriting is becoming more stringent as underwriters look for debtor books which show few signs of 'distress'. What does this mean for my business?

Simply put, if you are within 3 months of the year end it is time to review your debtor book and put in place a strategy to 'clean up' accounts which exceed credit terms and are typically 90+ days and over due. 

Why is a pre-year end audit important?

Accounts on 90+ days will impact on the bad debt provision your accountant will be required to make at the year end. The financial backers of your business will want to see a tightly controlled debtor book which ultimately gives them confidence against which to extend financing facilities.

Collection or non-collection of these accounts may identify potential weaknesses in the business which you were unaware of, for example:

  • Do we have a credit control/credit underwriting problem?
  • Why are these accounts not being paid to terms - is it the market sector we sell into?
  • Are we being taken advantage of? 

Case Study - Outsourcing the pre year end audit collection

  • Client experiencing cash collection problems on 90-day accounts and over and decided to take advantage of an outsourced audit collection service
  • Access Credit Management assumed collection responsibility for these accounts and successfully recovered funds to the client's account
  • Of the uncollected balance, Access Credit Management identified recurring reasons given by debtors for non-payment and identified underwriting issues at the point of sale to the Managing Director
  • Client debtor days are now realistic and no adverse audit commentary was recorded

As a result of the exercise the Managing Director changed the way the company sales team were rewarded and addressed the service levels provided to customers.

Contact us to discuss an interim solution on a pre or post year end audit basis to satisfy the requirements of your business.

Call us today or complete our contact form

Invoice Discounting and Debt Recovery

If the business makes use of an invoice discounting or factoring service it is important to be aware of who is responsible for the collection of debts which occur when your customer(s) fail to pay.

If the business uses a recourse facility agreement then in the event of non payment the finance company will not take the risk of the debt collection on.

A recourse facility is a lower cost form of factoring because the business continues to take the risk of bad debt rather than the factoring company. This type of factoring is also easier to obtain as the underwriting tends to have less stringent rules about the business systems and payment history of customers.

Once the invoice is returned (recourse) the responsibility for collection rests with the business.

Contact us and use our recourse collection service.

Call us today or complete our contact form.