WE ARE PART OF THE
FAMILY.
A Debt Recoverer specialises in the collection of outstanding debts.
Their expertise and experience in negotiation and communication strategies significantly enhance the chances of successful debt recovery.
They employ proven techniques to engage with debtors, recover overdue payments, and maximize your cash flow.
Chasing overdue payments can be a time-consuming and frustrating process. By delegating this task to a Debt Recovery employee, you free up valuable time and resources.
Instead of investing your own time and efforts, you can focus on core business activities, such as acquiring new customers, improving products or services, and driving growth.
Debt Recoverers are trained in handling difficult and delicate situations.
They approach debt collection with professionalism and assertiveness, representing your business in a professional manner while maintaining customer relationships.
Their skills in negotiation and conflict resolution help in reaching mutually beneficial solutions and preserving customer goodwill whenever possible.
Timely debt recovery directly impacts your business's cash flow and financial stability.
By promptly collecting outstanding debts, you ensure a healthy inflow of cash, enabling you to meet financial obligations, invest in growth opportunities, and maintain smooth business operations.
Debt Recoverers have a comprehensive understanding of debt collection laws and regulations.
They ensure compliance with legal requirements, protecting your business from potential legal pitfalls or accusations of unethical practices.
Their knowledge helps in navigating complex legal scenarios, minimising risks, and safeguarding your business's reputation.
A Debt Recoverer understand the delicate balance between recovering debts and preserving customer relationships.
They employ effective communication techniques to approach debtors respectfully, aiming to maintain positive customer connections even during the collection process.
This approach can foster long-term customer loyalty and repeat business once outstanding debts are resolved.
By entrusting debt recovery to a specialized individual, you can focus on your core competencies as a business owner/exec/manager.
Instead of getting caught up in the stress and frustration of debt collection, you can dedicate your time and energy to driving strategic initiatives, building customer relationships, and expanding your business.
Debt Recoverers maintain thorough documentation of communication, payment arrangements, and settlement agreements.
They generate regular reports on debt recovery activities, providing you with clear visibility into the status of outstanding debts and recovery efforts.
This documentation serves as valuable evidence in case legal action becomes necessary.
Bad debts can be detrimental to your business's financial health.
A Debt Recoverer actively pursues outstanding debts, reducing the likelihood of bad debt write-offs.
By recovering funds that would otherwise be lost, you can protect your bottom line and ensure that your business receives the payments it is owed.
1. DEBT COLLECTION CALLS - employing effective communication techniques to persuade debtors to fulfil their payment obligations
2. WRITTEN CORRESPONDENCE - preparing and sending written correspondence to debtors, such as collection letters and demand notices
3. PAYMENT NEGOTIATION - striving to find mutually agreeable solutions that facilitate the timely recovery of outstanding debts.
4. RECORD KEEPING - maintaining accurate and detailed records of all communication and payment arrangements made with debtors
5. SKIP TRACING - using various techniques & databases to locate debtors' current contact details, enabling effective communication
6. DISPUTE RESOLUTION - handling and resolving disputes raised by debtors regarding outstanding debts
7. LEGAL LIAISON - providing necessary documentation and information to support legal action against debtors
8. REPORTING & ANALYSIS - providing owners/execs with insights into the status of outstanding debts, recovery rates, and trends.
9. RELATIONSHIP MANAGEMENT - maintaining positive relationships & preserving customer goodwill and long-term business relationships.
10. COMPLIANCE & ETHICS - ensuring compliance with debt collection laws and regulations & adhering to ethical practices
When performing these tasks diligently, your Debt Recovery Outsourcee can contribute to increased debt recovery rates, improved cash flow, reduced bad debt write-offs, and a stronger financial position for the business overall.
40% of ALL businesses fail due to Cash Flow issues and one of the biggest contributors is late payments!
In this role we will not only help chase up the money that is owed to you in a friendly yet uncompromising manner but protect your business from major future issues by implementing & actioning effective procedures that minimise your risk.
CHASING FOR PAYMENT
• Producing & Sending Statements of Accounts to Customers.
• Sending effectively timed & worded Payment Reminders.
• Conducting Calls to Respectfully Chase Customers to Pay their Upcoming/Overdue Debts.
MANAGING CUSTOMERS & CUSTOMER ACCOUNTS
• Allocating & Maintaining Customer Accounts (Invoices, Credit Notes & Payments).
• Running & Assessing Credit Reviews on New & Existing Customers.
• Approving New / Increased Customer Credit Limit Requests.
• Managing Invoice Finance / Discounting Facilities
• Managing & Resolving Customer Queries
• Actioning Customer Requests.
DEBT COLLECTION PROCESS DEVELOPMENT
• Implementing necessary changes to Internal Processes.
• Put together Official Company Documents - Customer Application Forms, Limit Increase Request Form, T&C's.
CREDIT CONTROL REPORTING
• Monitoring & Reporting on Credit Control Performance
• Weekly/Monthly Aged Debtor Analysis
• Conducting Yearly/Bi-Yearly Limit Reviews
• Chasing Customers that are over their Limit
• Attending Debtor Related Meetings.
LAWFUL DEBT COLLECTION
• We can have our 3rd Party Law Firms Advance Serious Cases Further to the Courts.
