- National family business experiencing rapid growth and expansion.
- No working system in place organised to control debtors.
- Spasmodic collection efforts extremely UNsuccessful.
- Large percentage of the Debtors Ledger factored to one of the major banks.
- Upper management spending time ‘putting out fires” (attempting to control cash-flow).
- Average collections on a month to month basis doubled.
- 90d+ component of the debtor book reduced by over 50% in 2 months.
- Collection Procedure created to spread the workload and to accomodate further business growth.
- Over time, all debtors made aware that this businesses debts must to be paid according to trading terms.
- No customer upset as all new procedures carefully and gently introduced.
- Management now able to focus on making strategic decisions in the business rather than reactive ones.
- Factoring facility cancelled, a considerable cost saving.
'thank you' letter from this client.