Acting as your Outsourced Credit Control department
Working Capital Repatriators (WCR) provide organisations with an unrivalled service, where they can be assured that whether they have a customer who is a slow payer or a persistent bad debtor our actions have been designed not to damage the relationship you choose to enjoy with your client and all members of staff follow our ethical and strict Code of Conduct.
Our Outsourced Credit Control service is aimed at helping our clients improve their cash flow without ruining their relationship with their own customers. A typical client finds that by outsourcing this service saves them an average 40% of administrative costs.
A typical client is Kensington & Chelsea Council’s Commercial Waste Department who like all local authorities need to maximise the collection of their overdue accounts while minimising costs.
The Council recognised that one way of achieving their target was to employ WCR to act as the next stage in the collection cycle and we are passed all overdue invoices within 7 days of their falling overdue.
Our first action is to call the debtor, explaining that we are calling on behalf of RBKC Commercial Waste Department. We then ask a series of agreed questions as to why the invoice hadn’t been paid. We are often told that the company had no idea that they were expected to settle the invoice, as they thought this was included within their business rates or claim that they have never received any bin bags or used the service. We explain that under the current law, they either have to use the Councils own service or are able to show that they are employing a company that is legally entitled to dispose of their waste material. Our team are often the first to be told that a company is ceasing to trade, or the business was sold and as such the purchaser is not liable for the previous occupier’s overdue accounts. Or even in some case the business has closed due to the death of the business owner. When this happens, we liaise with the estates executors.
The outcome for the Commercial Waste Department, is that their collection rates are generally within the top 10 of local authority departments.
To find out about this service call David or Melanie on + 44 (0) 20 8446 7720 / +44 (0) 1923 819 692 or email us