The question really is: why wouldn’t you?

With up to 96% of our clients making a profit from using us and your debt repaid faster and more cost effectively than any of the other solutions in the market place – the answer really is simple.

Let’s take a look at the options you have:

In-House

It is a known fact that a majority of businesses will delay payment of their invoices for as long as possible. Cash flow can be a ticking time bomb if not managed correctly and with delay tactics and unnecessary queries common place – it is easy to see why the biggest reason for companies going into receivership is non/late payment of their invoices.

Many accounts departments are just not set up for effectively dealing with chasing overdue bills. Debt collection can usually end up being a task that is given to a member of the team as a sideline and therefore not receive the focus or training it needs.

Implementing COLLECTaDEBTpro into your daily accounting processes will:

  1. Allow your staff to focus on their primary role
  2. Save you time and money
  3. Remove the embarrassing calls
  4. Dramatically improve your cash flow
  5. Significantly reduce your average DSO

Solicitors

There is no doubt that litigation can be an important part of your overall debt collection strategy however it really should only be used as a last resort on specific and appropriate cases. It would certainly be wrong, expensive, slow and potentially damaging to your brand to litigate on every account without first exploring faster, cheaper and more effective strategies that can actually help retain your customers. Many companies have fallen into the bad habit of sending all of their unpaid invoices straight to Solicitors, who can be notoriously leisurely and expensive. Not a perfect mix when your cash flow needs an immediate boost. By using COLLECTaDEBTpro instead you will:

  1. Only pay a one-off, cost effective set fee
  2. Expedite your positive cash flow with immediate results
  3. Take control of your accounts with an on-line “My Account” function
  4. Protect and improve your brand – retain customers
  5. Say goodbye to unseen, expensive charges and disbursements
  6. Ability to instruct legal activity on appropriate cases if required

Debt Collection Agencies (DCA)

Conventional debt collection agency’s predominately focus on high volume placements from the UK’s biggest Blue Chip companies. They will usually have teams of expensive call centre staff looking after thousands upon thousands of accounts. Typically, agents will be trained on specific query types for these big clients however this becomes impossible if a lot of small clients with few debts are added to the mix. This is why most debt collection agencies will turn this type of business away – the ones who do accept it will generally under perform.

In addition, their whole model is focused around “cherry picking” the easiest collections and they work to expensive commission rates. The archaic ‘no win – no fee’ commission structure is massively flawed and incentivises the wrong behaviour. You will also usually not receive any monies they collect until the following month.

COLLECTaDEBTpro are different because:

  1. You pay a low, set fee per account – no high commission rates
  2. Every penny is sent directly to you by your customer – we never hold any of your funds
  3. You retain complete control of your account
  4. You maintain contact with your customer – after all, you are the experts and know their history
  5. Brand protection and customer retention is significantly increased

COLLECTaDEBTpro’s set fee vs. commission comparison

30 days overdue invoice value - £1,500.00

COLLECTaDEBTpro Silver Package fee£16.99( + VAT)
Statutory fees added£70.00
Statutory interest added£10.48
Total NET received by client once paid£1560.09
NET Profit£60.09
Example DCA commission rate10%
DCA commission£150.00
Total NET received by client once paid£1,350.00
NET Loss£150.00
A huge difference of£210.09

This simple example shows how cost effective COLLECTaDEBTpro’s solution is compared to a standard DCA process.