Debt Collection for the Events Management Industry
Debt Collection for Events Management
The events management industry in the UK is one of the most successful sectors.
In recent reports, it showed that it was worth upwards of £42.3 billion.
Whilst it is successful, this industry is at as much risk of non-paying clients as any other.
A specialist debt collection for events management service is an essential element of a credit control process. It is critical to stay on top of, as it is a major contributor to the growth of this sector.
It has been a challenging year during the Covid-19 pandemic. Many events management companies are looking to their credit control processes to overcome this.
Having a dedicated debt collection for events management solutions is more important than ever before.
The events management industry relies on the success of all occasions handled.
The term ‘events management’ encompasses all aspects of the event. This is from its creation all the way through to make sure both small and large occasions go as expected on the day.
Sporting events, festivals, conferences, ceremonies, weddings, formal parties, and concerts are all organised by events management companies.
Managing and coordinating events such as these is a huge undertaking.
Debt Collection for Events Management – How We Help
Every aspect has to be arranged and finalised, and third parties such as caterers, security, and marquee hire must be managed.
Each of these factors must be prepared for and considered well in advance.
These third parties will need the payment for their services, and this must be handled properly.
This helps to ensure that the event in question will be as successful as possible.
Any occasion an events management company organises will need different services.
No two events are identical, and great care needs to be taken during the preparation stages.
One example of this might be an outdoor wedding. With a ceremony such as this, a heavy emphasis will be made on catering, marquee hire, and entertainment (a wedding band, for instance).
Virtually all these services will need a deposit at the time of booking.
Later, once they have provided their services, they will expect the rest of their fees.
Every supplier of these services has had to deal with a non-paying customer.
Once their services have been provided, some people will delay or outright ignore the obligation to pay the remaining amount.
When this does happen, the best way in which to recover an unpaid fee is to instruct a specialist debt collection agency.
This can help ensure suppliers get paid without any kind of delay, and ensure that their business continues to run smoothly.
Events Management Suppliers That Suffer from Unpaid Debt
It takes hard work from many different organisations to ensure that an event runs as expected.
When a client refuses or delays the payment of an invoice, it can present a challenge to the company that is affected.
Some common examples of the types of the company that deals with unpaid fees are:
- Marquee Hire
- Event caterers
- PA system suppliers
- Tepee hire
- Wedding Planners
If you are a marquee company or a caterer who has not been paid, you need to know who to turn to.
For all matters relating to debt collection for events management, speaking to a professional debt recovery agency is the best option available.
Federal Management is one such agency.
Our specialist agents have the UK’s leading expert knowledge of debt collection for events management.
We understand that it is a frustrating and challenging position for the owners of these businesses to find themselves in.
There are many reasons surrounding why a client has chosen not to pay.
They may be disputing a part of the service, or might even be ignoring any attempts at communication in the hopes that the debt will go away.
Our expert collections team recovers thousands of pounds worth of unpaid fees every week.
We are able to enforce and collect a debt from those who have sought to evade payment.
We have been the UK’s leading commercial debt collection agency since 2004.
Over that time, we have dealt with countless cases relating to debt collection for events management.
Debt Collection for Events Management – Instructing Federal Management
If you are the owner of a business that provides services for events, such as a catering company or a marquee hire business, it is critical that you get paid for the services you have provided.
With life after the Covid-19 pandemic showing signs of returning to normal, a business’s cash flow is more important than ever.
Event management companies across the UK suffer from non-paying clients, and each one is at risk every time this happens.
Our industry-leading service provides the best debt collection for events management available.
Whether it is unpaid marquee fees or the non-payment of a catering invoice for an event…
…a professional and pragmatic recourse will see your unpaid monies collected in a swift manner.
Our helpful and friendly business debt collection advisors are available every working weekday.
Speak to us today for more information on how we can help you.