News

Posted by Customer Service Agent 3 on
The Business Show - 2015 We are delighted to confirm that COLLECTaDEBTpro will be exhibiting at the UK's biggest business event – The Business Show – at London Olympia on 3rd and 4th December 2015.

We’ll be there on stand 348 and we’d love to see you there too. This huge event (over 25,000 visitors) is a must for anyone already running a business and tickets are available free at The Business Show Website.

We hope to see you at London Olympia on 3rd and 4th December 2015, and don’t forget to come and say hello to us on Stand 348!

Posted by Customer Service Agent 3 on
Low balance debts – are they commercially viable to collect? Nearly every company has late payment concerns and most will have existing internal and external processes in place to minimise their bad debt. However, when it comes to low balance cases (smaller than £50 for example) many companies will simply write them off (without any collection activity) or significantly dilute any recovery attempts.

As it stands, the reason for this is commercially obvious. Cost to collect, high volumes, time and resource are all major barriers that many companies struggle to overcome.

Finding an outsource partner who can offer a cost effective, full collection strategy has previously been difficult, for the reasons highlighted above. A typical debt collection solution still has to support significant overheads and this can severely impact profit margins. To overcome this, providers are forced to charge extortionate commission rates, meaning that the creditor is left with minimal return, even if the recoveries are high.

Posted by Customer Service Agent 3 on
Why Use COLLECTaDEBTpro - Top Ten Benefits
  1. Cost Savings – average of 50% reduction across all sectors combined
  2. Performance – recoveries significantly expedited with success rates of up to 80%
  3. Pricing – transparent commercials, with each package priced on a low, set fee basis with no additional costs, fees or commissions
  4. Compliance – COLLECTaDEBTpro removes a majority of the risk associated with conventional outsourcing models
  5. Auditing – full oversight and control is retained via our integrated account management portal, accessible at anytime, with any device
  6. Brand Protection – customer re-engagement and anti-churn is drastically increased
  7. Data Security – all data transferred to the COLLECTaDEBTpro portal is encrypted and secure at all times - ensuring peace of mind
  8. Volumes - you can just as easily instruct us to collect one account as you can thousands
  9. Resource – our solutions free up considerable internal resource
  10. Strategy – intelligent “end to end” multimedia solutions (white label, collections, trace, investigations and legal) easily accessible 24 hours a day

For further information, please peruse the website or email us at sales@collectadebtpro.com. Alternatively, you can call us on 0845 218 5225 for an informal chat.

Posted by Customer Service Agent 3 on
UK SMEs face over £67bn in unpaid invoices You may be aware that recent industry studies have revealed that small and medium sized enterprises (SMEs) across the UK currently face over £67bn in unpaid invoices. This total marks a 36 per cent increase since 2011. That's an average of almost £40,000 per firm. If this figure reaches £50,000, one in four SMEs say they may have to shut up shop altogether.

Unpaid invoices now amount to 14 per cent of annual turnover across SMEs as a whole. Some of the hardest hit sectors include businesses within manufacturing (owed £13.4bn - 17 per cent of turnover) and the construction sector (owed £7bn - 16 per cent of turnover).

UK SMEs are also waiting an average of 72 days for payment of invoices (construction industry stands at 107 days!), a figure that continues to climb year on year.

Posted by Customer Service Agent 3 on
COLLECTaDEBTpro offers a ‘value for money’ solution COLLECTaDEBTpro offers a ‘value for money’ solution which can seamlessly integrate into all small to medium enterprises (SME’s) existing practices to enhance and expedite the delinquency of their customers debt, dramatically improving cash flow. A recent study from the Association of Chartered Certified Accountants suggests this could be the difference between success and failure.

Our model confronts the most critical concern all businesses face on a day to day basis and if used in the early stages, it supports continued growth and development.

For more information or to discuss how our solutions can best be utilised please email sales@collectadebtpro.com or alternatively register online here.
Dispute scheme planned for late payment rows between large firms and their suppliers The following is an interesting article found on the 'This is Money' Website.

The Government will unveil plans for a Small Business Conciliation service to tackle disputes between large firms and their suppliers as part of their latest efforts to clamp down on late payment.

Late settlement of bills has become a growing issue since the financial crisis and small business leaders estimate that at any given time small companies are owed billions by larger companies in overdue payments.

Posted by Customer Service Agent 3 on
Top five reasons why businesses fail On average, around two thirds of all start-ups will fail within their first year of business. This is a dramatic statistic, and one that becomes worse in certain parts of the country. In parts of Yorkshire, for example, business failure rates have reached almost 80 per cent.

It is difficult to run a business at the best of times. But, as many accountants have recently warned, the 18 months immediately following a return to economic growth is a particularly dangerous period. Many firms find themselves spread too thin, and poorly equipped to negotiate the new financial terrain that a recovery presents. At the same time, suppliers will begin to tighten their terms and chase debts more aggressively.

Even the most profitable firms can find themselves endangered by apparently unremarkable circumstances. Awareness is vital if you are to avoid this unfortunate fate. So what are some of the most common reasons for business failure?

Posted by Customer Service Agent 3 on
Budget 2015: The story in four charts The following is an interesting article found on The Independent Newspaper Website.

George Osborne has significantly loosened the squeeze on day-to-day Whitehall spending (that’s things like funding for the police, the army and education) that was projected at the last Budget before the election in March.

This important line of spending was due to fall by £41bn in inflation-adjusted terms by 2018-19. Instead, only £18bn will be cut. And the cuts will take place more gradually.

Posted by Customer Service Agent 3 on
SMEs face £40bn in unpaid invoices, prompt payment is an ethical issue The following is an interesting article found on The Guardian Newspaper Website.

Late invoice payment by big corporates may make business sense but it displays a lack of ethics. A new bill aims to 'go to war' on the issue.

Big business likes to boast that the consumer is king. Small companies would love to join them, only they know that it's cash flow that wears the crown. The UK economy may be picking up, but sadly the pernicious habit of late payment is not.