The organisation: Our client is a UK provider of animal healthcare, running a nationwide portfolio of 50 branches.
The challenge: Each branch reports into a central finance team, with payment and client debt collection via a common management system. Within this however, their client payment and debt recovery systems were slowing cash-flow and limiting business operations. The organisation asked Controlaccount to help increase their recovery of outstanding accounts and streamline their credit control processes; whilst protecting the brand. With a high volume of accounts, our challenge was to bring this client an updated and fully flexible finance system, with efficient outcomes.
The difference made:
We began by reviewing the operational systems and the reporting requirements for each location. We then looked at options to deliver improvements via our bespoke ClientWeb software.
When installed, this included:
- Improved financial relationships and reports between branches and head office (with more accountability, up to the minute reporting and the option for head office to view overall branch performance, as well as drill-down into individual accounts)
- New payment terms and plans to assist and speed debt recovery (including a collection fees option)
- A trace process to reconnect with gone away subjects or aged debt
- Automated step-up to legal recovery, incorporating a comprehensive settlement programme
- Tech training support for employees
- Templates for letters, telephone calls and SMS payment campaigns
- Additional debt recovery support from Controlaccount, when needed.
To enable swift settlement of invoices, customers could access Controlmyaccount, an online portal which enabled customers to remotely log a query, arrange payments or request a callback.
The improved figures speak for themselves; over the last two years, 53.5% of all debts submitted, have been paid within a 60-to-90-day period.
Controlaccount continues to partner with this client, and in addition to debt recovery services provides customer care services through our omni-channel, multi seat call centre and well as manage their branded mail campaigns.
To speak to one of our Sales Team, please call 01527 388 388 or email sales@controlac count.com.