THE PSP PLAN

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THE PSP PLAN 2017-08-21T06:57:06+00:00

 

INTRODUCTION

Professional Receivables ManagementGet us to do it all for you!
The “Fast Money” in all Debtor Ledgers ALWAYS comes from the most recent invoices raised. (see “the bath tub”.)  This service has been created specifically for “Professional Service Providers” (PSP‘s) who simply don’t have the time, staff or capacity to follow up payment of any accounts as soon as they become due.
This service is only being offered to Professional Firms as
1 that is where our experience lies (see Michael’s LinkedIn profile and some of our blog posts),  and
2 many firms have been finding it difficult to find and retain people experienced in this very sensitive yet vital area of all firms operations – “managing debtors”.
3 Firms don’t want to be ‘locked in’ for an eternity. This plan is flexible, use it only for as long as you need it!

Note
* Our expertise is on improving cash flow by getting invoices paid quickly by being non-confrontational yet regular in our approach.
* We are not a Debt Collection Agency. We focus on ‘slow’ debts, not ‘bad’ debts.
* We are only able to set up and start one new client each month as Michael is very involved in all start-ups.

WHAT DOES THE PSP PLAN COVER?

Daily
– checking and responding to all incoming emails.
– updating Partners/Managers as relevant (account queries, disputes …)
– forwarding invoice copies to clients when requested.
– returning incoming phone calls.
– following up Partners/Managers for responses to clients as necessary.
Ongoing
– diplomatically following up unpaid balances (those that have been approved for follow up) regularly by email, letter or text message.
– suggesting improvements to follow up processes.
– reporting to Management as required.
– offering realistic strategies to take for any ‘problem’ situations/debtors.

BENEFITS TO YOU

* Our time-proven system ALWAYS improves cashflow. (Reduces Debtor Ledgers by at least 35% within 8 weeks.  See Star Projects.
* Coverage is 5 days a week. Credit Management in your firm is probably NOT a full time job but incoming emails, queries, invoice copies requested should be attended to daily – this service covers that for you. (3 people will be covering your debtors so you won’t ever be affected by any ‘sick days’, holidays, resignations …)
* There are NO contracts involved – we will live by the results we achieve for you.
* You maintain control – we perform the function. In other words, none of your clients are gently followed up for payment before we’ve been given each Partners/Managers express permission to do so.
* Your clients are NEVER aware that ‘collections’ is being done by an ‘outside body’. All work is done offsite BUT as far as your staff and clients are concerned, we are merely part of your administration. Emails are sent from the firms email address, outgoing phone calls are unidentified, incoming phone calls can either be forwarded to a dedicated phone number or a message taken and forwarded to us by email. All emails are attended to daily as are any requested invoice copies or any account queries/disputes. Managers/Partners are advised of these immediately so they can be addressed quickly.
* You will have a full Credit Department for less than the cost of one Full Time Credit Manager. (Average Annual Salary for one Credit Manager in Australia = AU$79,834 PLUS Employment Agency Fees, Superannuation, Annual Leave, Sick Days, Office Space, Computer, Phone ….) In other words, The PSP Plan is the most cost-effective option as at least two people are assigned to each OPS client as well as Michael Todd who can help with any “problem” situations. Contact us for a firm quote for YOUR firm.
* Provides continuous coverage – No downtime in case of
– sick leave or
– annual holidays or
– trying to find a fully qualified person to manage accounts if an existing staff member leaves with the accompanying Employment Agency fees.
* 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.
* No extra space needed – No office space, desk, computer or phones required (all work is done offsite.)
* Fees are 100% tax deductable.

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