Debt Recovery
One of our Associate’s first tasks when we implement an intervention in a new client’s business, is to get to grips with the Debtor Book. Is this the most important current asset at this stage? Probably, because the quick and efficient recovery of outstanding debts releases vital cashflow to allow business to function effectively. Read More…
Lack of cashflow is probably the single largest cause of business failure
Let’s review some factors described in the Causes of Business Failure section:
- - Poor Credit Control.
- - No bad debt protection.
- - No cashbook.
- - No cashflow forecasting
Our Associates will chase overdue accounts in a professional manner to avoid damaging any Customer Relationships. Long term overdues will be treated as bad debts and vigorously pursued. It is our client’s money after all.
A thorough review of the current Credit Control Procedures will be a priority and Sharma & Co will implement a system that is appropriate to the client’s needs and resources.
These procedures will also involve the use of Investigative tools when taking on new credit customers, thus highlighting and forestalling potential bad debts.
This focused and methodical approach has been so successful that we have “packaged” the skills of our associates and the procedures, making them available to all small businesses via our Commercial Services Division.
We are able to quote for the following services:
- - Credit Control and Cashflow management
- - Implementation of effective systems and procedures.
- - Pre legal debtor book collection.
- - Cash flow forecasting.
- - Commercial Debt Collection and Recovery.
- - Post legal debt recovery.
- - Dispute resolution.
- - Arranging winding up or bankruptcy action against bad debtors.
- - Investigations
- - New or existing client accounts.
- - Reports and credit limit setting.