Recover Unpaid Business Debts is a Must
Recover Unpaid Business Debts
Some companies still do not act on bad debts.
Figures from a recent survey suggest that the lack of action with regards to unpaid Business invoices is still a massive problem.
According to Insolvency trade body R3, over 23% of company failures over the past year (up to August 2016) were blamed upon the non or late payment of invoices for business debts. Also, the failure to act was cited as a major reason why with companies often waiting too long to take action to recover the unpaid debt as details in a news story in UK Debt Collection news
One of the precautionary measures to prevent your unpaid invoices becoming a statistic is to take a firm approach. Collaborating with a Professional and ethical Debt Recovery Agency such as Federal Management can significantly improve a company’s financial well being.
More than ever, it should be a primary objective to firmly manage your company’s cash flow as there are no second chances if your customer becomes insolvent.
It is essential for the well being of a businesses balance sheet that the late payment of unpaid or overdue accounts is kept to a bare minimum within the accounts payable ledger. If the terms you have with your Business customers are not met, there must be a tactical strategy in place to deal with this.
Whether it is 30, 60 or 90-day terms you have provided, (or even longer in some case) ensure that a positive outcome is maximised by being in control of the situation.
One of the reasons believed to be behind the reluctance of some companies to employ a Debt Recovery Agency is that it may tarnish their brand or their reputation. Using an accredited organisation with a history of proven success will easily legislate against that.
Federal Management has helped thousands of businesses in the United Kingdom since 2004 including some of the most famous brand names in British business and society. Our professional and diligent approach ensures we operate at optimum levels, in terms of the service and results we deliver.
FM are unlike other companies that might be a jack of all trades and master of none. We specialise in Debt Recovery alone. All our resources and advanced strategy development programmes are specifically centred around increasing the metrics to ensure we get the very best results for our clients at all times.
From outset, we provide a free and upfront appraisal as to whether we can assist and do not operate a ‘one size’ fits all service. Our cross-industry expertise ensures our strategies do not gamble with our client’s money, we just focus on attaining the very best results possible and hopefully, exceeding our client’s expectations as so often is the case.
FM does not operate an open door on business debt collection and will only act where there is a significant probability of monies being recovered by our team of dedicated professionals. This is why Federal Management reviews show we are a five star rated company on review platforms such as Trustpilot.
For your Free appraisal or just to discuss how Federal Management can benefit your business today, speak to our friendly New Business Team on 0333 043 4420