Credit Control Outsourcing Service
Businesses that leave out on credit control during their busy schedule face financial challenges and fail to reach their objectives. On the other side, a shortage of credit control experts ends up in time-consuming or extravagant deals for the business. To those companies, Knack Source's credit control outsourcing service can be a supreme solution that provides thorough details about when they are getting paid and need constant cash flow. Knack Source an India-based company caters to all recruitment and staffing agencies of the UK with seamless and superior credit control service that ensures healthy cash flow and reduces risk.
With the experience and backing of technology, the knack source team develops a robust credit management system with strict adherence to the credit-control best practices and process excellence that ensures timely payments. Further, our team attributes excellent interpersonal skills that help develop a healthy relationship with your clients. They work closely with you to know your requirements and hit the right spot, be it credit card limits or a number of reminders required, we strictly act on your words and approach the customers through emails, letters fax, and phone calls and go above and beyond to maintain a positive cash flow. We generate and deliver weekly and monthly reports to give you a detailed look at cost reduction and improvement in the credit-control process and thus help you make sound decisions. Our credit control outsourcing service is completely scalable to your requirement and budget.
Our Credit Control Outsourcing Service Includes:
Customer data management
- Setup new customer account
- Filing new supplier form
- Changes to old master records
- Sporadically credit check of customers
Make a Call to Customers
- Call for receipt of invoices
- Reminder calls for due invoices
- Call for overdue invoices
- Payment follow up calls
- Updating records followed by calls
Send emails to Customers
- Email outstanding invoice statement
- Email for reminding due invoices
- Reminder emails for overdue invoices
- Follow up emails and final reminder emails
Dispute Management Service
- Resolve dispute associated with rate differences
- Teaming up with internal billing team to resolve invoice issues
- Linking with account team to resolve queries and get payment approvals
- resolve unbilled spend
- Monitor and manage query log
- Cash Posting and Allocation
- Aged Debt Reduction
- Reporting to Client
- Quarterly report of SLC
- Monthly report of DSO
- Cash hedging report / month
- Top 10 debtors report / month
- Ageing report for sticky debtors
- Aging report and aging target / month
- Invoice and credit report/ month
- KPI for credit control and cash applicatio
Why Knack Source's Offshore Credit Control Outsourcing Service?
Improved Cash flow:
We have credit controller experts having excellent command in managing the healthy cash flow of any organization and help them track and make better decisions.
Cost Saving:
Outsourcing a credit control service is like hiring an in-house team who works remotely for your organization, which saves huge investments of space and software you need while hiring an in-house team. Further, the outsourcing team provides 24/7 service and support, resulting in cost-saving decisions for you.
Expertise:
Every money concerning the matter in the business requires extra attention and expertise to manage, and that's true for credit control too. Here, the outsourcing team shares the good experience of working in different niches, hence are potent to handle high volume and complex credit control projects with ease.
Aged Debt Recovery:
There are many companies suffering from aged debt, to this hiring experts guide you through the legal processes for credit recovery and help you recover your aged debt without strain.
Reduce Stress:
Having an experienced team standing to abide by you throughout every credit control decision, apparently going to lessen your stress and build confidence.
Improve Brand Image:
A company outsourcing credit control has healthy credit control and on-time payment processes reflect the company's professionalism and good practices, which in turn improves the brand reputation and reliability.