THE CFS “EARLY BIRD” PROGRAMME
The “Fast Money” in all Debtor Ledgers ALWAYS comes from the most recent invoices raised. (see “the bath tub”.) This service has been created for businesses who simply don’t have the time, staff or capacity to follow up payment of any accounts as soon as they become due. It’s provides EXACTLY the same service and benefits as our Standard Outsourcing Service (see BENEFITS below), but charges for this service are much lower than the full service as follow ups stop if any accounts reach 90days past the due date for payment. But not many do get that old.
* The “drift” from Current to 90d+ is greatly slowed. see “Star Projects”.
* For any that do reach 90d+, you will know why. You can then decide the next step to take from a position of logic, not emotion, as you’ll have full records of all actions that were taken to recover payment.
* A measurable increase in bankings and smoother cash-flow.
* Risk of bad debt minimised.
HOW DOES IT WORK?
Week #1 – getting set up
* you’ll receive a short questionnaire (items such as … what are your trading terms, accessing information required, methods of contact, how soon after the due date can an account be followed up …)
* we contact you (by phone or Skype) to discuss the project and agree on the best way forward.
* based on Day 2’s discussions, a draft EB Procedure document is prepared and sent to you for approval.
* any adjustments, if any, are made and the EB Procedure (Final) is sent to you. This includes the agreed step-by-step process, wording for emails and other miscellaneous items)
Week #2 – starting the collection process.
ALL follow ups for approved debtors are actioned regularly. Every week. And you can see what’s been done whenever you want.
“Follow Ups” include
* Email reminders,
* Phone calls,
* Text messages,
* Sending pdf invoice copies when requested,
* Returning phone calls,
* Handling account queries/disputes,
* Reporting to Management as and when necessary.
* All work, as far as your debtors are, appears as if it’s been done from inside your offices, by Administration. (Debtors NEVER know that it is being done by an “outside body”. It’s done like this to preserve all goodwill with your debtor.)
* Permission always obtained from you for each debtor before ANY follow up is started on that debtor. (In other words, No permission given to follow up Debtor A = Debtor A is not followed up.)
* OPS is not a Debt Collection Agency. Our expertise is on improving cash flow by getting invoices paid quickly.
* Collection action stops if any accounts DO reach 90d+. Details of all follow ups taken up to that point are sent to you so you are able to decide what to do next.
* Provides continuous coverage – No downtime trying to find a fully qualified person to manage accounts if an existing staff member leaves. (No Employment Agency fees either!)
* Removes all “hassles” and worry about slow-paying debtors knowing that people well experienced in this area are always looking after this function 24/7.
* Smooths cashflow – Not affected by Staff Sickness, Holidays, Long Service Leave or Resignations.
* It’s not “one-person dependant” – At all times, at least two people (experienced in this sensitive area of all businesses) are assigned to you. (Effectively providing a full Credit Department to you at a fraction of the cost).
* Less administration required – No time lost reconciling long service leave, payroll tax or superannuation requirements.
* No extra space needed – No Office space, desk, computer or phones required (all work is done offsite.)
* This time-proven system ALWAYS improves cashflow. (Reduces Debtor Ledgers by at least 35% within 8 weeks.)
* Reduces exposure to Bad Debts as accounts are actioned regularly.
* Disputes and account queries actioned daily (before they have the chance to escalate).
* NO CONTRACTS involved.
* Fully transparent operation with regular weekly reports.
* Fees are 100% tax deductable.