Better Bigger Business for the Future

At Liquid Recovery we understand the need to develop your business and allow it to grow and expand. Often Directors look to increasing sales and marketing which leads to a larger budget for this area.

At Liquid Recovery we look at cash flow and business growth. Ask yourself – do you want to see :-

1.       Debtor days reduced?

2.       Write offs reduced

3.       Disputes resolved quickly

These are just some of the things we look at and see how we can reduced your credit control costs and improve efficient allowing you concentrate on sales and building a better bigger business for the future.

Are you cost effective and efficient in your credit control

Making credit control efficient is based on a number of factors which include:-

1.   The type of system you use

2.   The people carrying out credit control are they proactive and confident

3.   The  training they have received and refresher courses.

Is your current credit control system cost effective?  When was the last time this section of the business was reviewed? All too often businesses spend a disproportionate amount of time on sales and service and not enough time on considering cash flow.  Cash-flow is the life line of your enterprise, spend some time to review your current systems and work out credit control ratio to sales, debtor days and write offs.

Measuring the performance of the credit department:

Making all necessary improvements. Bad debt losses and financing costs should then be substantially reduced.

·         The ratio of bad debt write offs to sales

·         DSO( days sales outstanding) by product line, business unit, sales territory as well as collector

·         DSO can also be measured on a sales weighted basis which is not affected by significant monthly sales differences. This creates a stronger DSO measurement

·         The percentage of the aged trial balance over a specified period (e.g. 60 days)

·         The total monetary figure of outstanding client deductions that is unresolved. The credit department does not rectify the issue directly, they do need to follow up to ensure that it gets resolved

·         The total monetary figure of fully outstanding and disputed issues.  This is where the client refuses to pay until a credit is received. This greatly impacts the cash forecast projection for the period. The credit department needs to source all the details of the concern and follow through with the tracking, until rectified

·         Customers on a “hold” status. This will impact sales if accounts are not being contacted and funds are not collected in a timely manner. Determine if greater numbers of customers are going on hold every month due to poor collection performance

The office is abuzz today

Great atmosphere in the office today..

With plans of Outsourced Credit Control expansion in to European Businesses..

If you are currently outsourcing or importing to Europe, we have in house staff who are trained in various different languages who could assist you.

Get in touch..

Our Recent Testimonial

Hi,

Please see our recent testimonial in regards to Credit Control Training:

"I recently attended a Credit Control Workshop presented by Rashmi Dubé of Liquid Recovery. I must admit I was very sceptical about attending at first as I have been doing Credit Control for the past twenty five years and as you do thought I knew all there was to know.

Well I would just like to say I was in for a shock, the workshop was very refreshing, it is amazing how much you forget over time and get stuck in your ways. I found the workshop very informative, it is not just for the beginner starting out on their career but also for the person that has been doing it for years. It gave me fresh ideas in ways to tackle the management of my day to day running of the credit control aspect of my job.

I would recommend this workshop to everyone whether from a large company or to small independent.  I though Liquid Recovery catered for all aspects of Credit Control – from Time Management through to Debt Recovery and Legal Action. The information booklet with the letter and telephone call templates that I came away with has helped me reduce my Aged Debtors by approximately half." 

                                                                                                           Logical Telecom

Let us know what you think,

Liquid Recovery