Outsourcing Ledger Managment
We act on behalf of our clients to make pre-collection calls before an account becomes seriously overdue.
Ledger Management is an effective and proactive method of unlocking cash tied up in your business through unpaid invoices. Both Ledger Management and Debt Collection are laborious and time-consuming tasks, so outsourcing them means you and your staff can be free to focus on more worthwhile revenue-generating tasks.
As we are a third party, it is easier for us to approach your clients to discuss overdue accounts in a courteous and professional manner. That way, you can still retain their business and achieve the desired result of having your accounts paid on time. It is also an opportunity to discuss accounts that may be disputed so that they can be resolved efficiently.
How it works:
Our Ledger Management team make phone calls on your behalf to clients who haven’t paid on your due date as specified in your terms of trade or on your invoices. You decide at what stage you turn over your ledger to us (normally the day after payment was due), and our team follow up on any outstanding accounts.
If accounts are still unpaid in the next month, we can then commence debt recovery and load the debtor into our collection system where they will be charged collection costs (depending on the wording of your terms of trade).
As we are dealing directly with your debtors, we have a structured system for turning them over to the debt-collection process if it becomes apparent that the debtor is avoiding payment of their invoice or account.
We keep you informed every step of the way and consult with you first before commencing further collection procedures.
Contact us to find out more about this service.