https://pecunia2016.co.uk/wp-content/uploads/2019/07/vlad-tchompalov-flAOu4s04QQ-unsplash-1500x1000.jpg
You are here: Home » Case Studies »
• Overtrading
• Cashflow being stretched
• Credit control and purchase ledger procedures not given attention required
• Restricted supply chain
• Funding and investments
• R&D, Patents, UL Certification, Intellectual Property
• T&Cs between two section of the business: Domestic & Commercial
• Met with the directors, to understand the business more
• Reviewed the business cash position and accounts
• Spent 1 day a month, over 6 months with credit control, sales, purchase ledger and directors, working together to develop a robust credit policy and process
1. Reviewed existing credit control processes, from take on of customers through to payment
2. Reviewed all documentation regarding orders, quotes, supply and installation
3. Invoicing documents and processes. Re-designed and adapted documentation (credit application forms in respect of domestic & commercial customers, invoices, chaser letters, welcome letter)
4. Reviewed T&C’s for both domestic and commercial, Installation (UK), Service (UK), Installation Overseas & Service Overseas
5. Reviewed cashflow (incoming and outgoing)
6. Examined the business position of aged debt to date
7. Prepared a credit policy document, for the directors to sign off and implement
• Reviewed staff function, job description in the credit control area
• Considered training requirements for credit control staff
• Reviewed current IT, its performance and usefulness going forward
• Studied the integration of the subsidiaries, and their proposed ideas going forward globally
• Involved in the review of the business needs for cash income, through grants, funding and investments for business projects, UL certificates, intellectual property and Patents as well as acquisition of engineering business
• Assisted with introductions to specialist lawyers and international project businesses
• Business has increased its profile within the construction and manufacturing sectors and become a leading supplier of it’s product throughout the UK and has entered into the global market
• Pecunia has enabled all processes and policies to underpin how the business will operate on a worldwide forum
• Pecunia will work alongside this client as they enter the global arena for their business, to ensure all processes and policies implemented in the UK are rolled out worldwide, to ensure the business consistency
