Optimizing cash flow and avoiding bad debts are two key objectives of any successful business. Setting up a good credit control system is the starting point for both. Credit control, unlike other processes, is a jigsaw of various elements of other processes, and is often a big burden on in-house accounting teams.
At QX, we focus on making sure that you get paid promptly by adhering to credit control best practices and process excellence. At the same time, we ensure that our services help you build stronger customer relationships.
We understand that business organizations have a unique approach to credit control. Before beginning the project, we work with you to determine a chasing plan, with clear rules for credit limit and frequency of reminders through dunning letters, emails, fax and calls. Well-defined service level agreements (SLAs) and performance metrics ensure that you receive real and measurable cost reductions along with improved credit control effectiveness.
Who can benefit from QX credit control services?
Some of the largest recruitment, student accommodation, healthcare and engineering firms in the UK have improved cash collections and saved significantly on processing costs through our services. Any organisation that wants to optimize cash flow and reduce bad debts through an efficient credit control system will benefit by outsourcing to QX.
Our expertise in the accounts receivable and credit management functions allows us to serve SMEs, large businesses and start-ups belonging to any industry vertical. Whether you want a team to reduce the burden of your accounting team, or don’t have resources to focus on non-critical accounting tasks but want to benefit from process excellence, our services will fulfil your expectations.
Our comprehensive credit control services are governed by best practices and benefit from industry-specific expertise. In addition to reducing the processing time and cost, we help you increase collections without harming your relationships with your customers. Our service delivers:
Post invoice verification
Chasing via telephone, email or fax
Invoices not yet approved
Invoices under query
For payments promised
Dunning letters and statements
Update remittance advices and receipts from bank statement
Debt collection against previous Aged Debtors’ report
Liaise with legal & compliance department for legal action
Credit control MIS reports
Aged Debtors report with last month comparison and commentary
Collection by age of the debtor
Debtors’ report with comments on debtors older than 60 days and 90+ days
Reports for Debtors “On Stop”, Debtors for “Legal actions”, Debtors for “Recommencement”
Choose QX for hassle-free credit control outsourcing
Get paid faster
Focus on timely and accurate invoicing, clear payment terms, assisted payments and quick customer query resolution boosts timely payments and reduces debtor days.
Reduce bad debts
Your dedicated credit control personnel at QX chase customers diligently, as per a pre-defined plan. Timely identification and escalation help keep aged debtor numbers down.
Communicate with your dedicated accounting team at QX over a phone, via mail or through video conferencing. Qualified professionals communicate appropriately with customers, ensuring good relationships.
Focus on future
Instead of being bogged down by cumbersome credit control tasks, you can focus on business growth and transformation with the peace of mind that comes from relying on experts.
Reduced processing costs
Avail all the benefits of process rigour and dedicated credit control, but at significantly reduced processing costs through reliable and secure outsourcing.
MIS reports, tailored to your specifications, along with detailed debtor’s reports, deliver insightful data on your customer behaviour, unlocking upselling opportunities and improved collection strategies.
We work with your systems to seamlessly integrate our service. The systems we use include the following but if you don’t see yours here, it doesn’t mean we cannot work with it – just let us know:
Looking for reliable and accurate credit control outsourcing services?
Our credit control specialists would love to help.
Off Mill Bridge
North Yorkshire BD23 1NJ
T: 0845 838 2592
F: 01756 703 890
18 Broad Street
T:+1 646 693 9695
201 GNFC Infotower
S. G. Highway, Bodakdev
Ahmedabad - 380054