Transport & Logistics - UK & International Debt Recovery
Delivering Better Outcomes Across UK and International Debt
Summary
A growing international logistics business appointed Controlaccount to replace multiple underperforming recovery providers and deliver a more effective, cost-efficient approach to debt recovery. Following the successful resolution of a complex cross-border debt, the client moved to a sole agency agreement, benefiting from improved recovery performance, reduced legal costs and a fully managed UK and international recovery service
The Organisation
Our client is a global business specialising in freight-forwarding, logistics and courier services for shipments from U.S, Canada, China,and Europe. In addition to freight services, they also provide a full one-stop service for Amazon sellers in the UK, US, and Europe, and has a turnover of £7.5 million.
Average Balance
£500
The Challenge
When the Client approached Controlaccount, they were working with two separate agencies: one for UK collections and another for international recoveries, with both providers falling short of KPIs. There was a tendency for both incumbent agencies to focus on litigation, rather than attempting to collect via the pre-legal route. The Client was paying legal fees on accounts, many of which did not bring about a successful outcome. The Client identified Controlaccount as the market leader for debt recovery services in the transportation and freight sector, and approached us, looking for better processes and results.
Success Rate to Date
71%
The difference made:
We were initially given one high value 'pilot' invoice, which had been worked internally with little success. The company was based in the USA and had stopped engaging with our client. There was also limited details on the account holder.
Our initial investigations commenced via our Trace team who were able to confirm the most suitable contact point for the organisation in the United States and the relevant accounts payable department. With a contact point established, the matter was returned to our Collections department who were eventually able to enter into a dialogue with the organisation and work with them to a conclusion satisfactory to the account holder and our client.
Under applicable law a Settlement and Release Agreement was reached with the assistance of our Legal Department, which in turn secured a settlement of £2,500.00 along with the legal permission for the disposal of any residual stock left in the warehouse.
Controlaccount is now the sole agency for this company, for both pre-legal and cases that require litigation. We provide a fully funded legal process reducing costs and risk for the Client.
Controlaccount also provided:
- International trace service
- Data cleansing and address verification
- Pre-litigation reporting
- Fully managed legal services
- Multi-jurisdiction debt recovery expertise across UK and international markets
- Negotiation and settlement management
- Data cleansing and trace services
- Monthly and weekly reporting and analysis across individual accounts, debt type and overall performance
- A technology driven service for all parties including online payment and query channels for subjects through ControlMyAccount and client management and reporting through our ClientWeb portal
What they said
The difference between working with Controlaccount - compared to our existing agencies - was like night and day. They were tenacious in their recovery, and their thorough cleanse at the start of the processes provided key aspects of account holder data that would support recovery. Controlaccount kept me updated at all points through their ClientWeb portal, and via the Client Services Team. We have now moved to a sole agency agreement, with regular referrals of overdue invoices.
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