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Family-run independent builders merchants operating from two sites. They supply materials to trade customers and private individuals and are a major UK supplier of bricks and blocks
• Credit Control procedures had not been given the time and level of attention required
• No formal processes in place covering assessment of risk through to collection of monies owing
• Cash flow tight
• Overdue debt levels high
• Spent whole day at office with credit control, sales and finance departments to understand the business dynamic
• Prepared a credit policy document, which was signed off by the Board and implemented
• Re-designed/introduced robust documentation (Credit Application Form, invoice, chasing letters)
• Provided support and advice on reducing overdue debt through prioritising collections, pro-active telephone chasing, building relationships with sales team and informal training of credit control staff
• Increase in cash flow of circa £400k + over a 3 month period
“We engaged Pecunia to assist us with the streamlining of our credit management processes and making appropriate amendments to safeguard the credit control process for our business. We are satisfied with the end result of our new Credit Control policy. The impact it has had in the increase of our cash flow has been more than anticipated. We look forward to continuing to work with both Kevin and Tracey in the future.”
• Pecunia continues to work with this client on a regular basis, helping maintain robust collection strategies and helping to deal with customers not paying to terms
