Sterling have been providing credit control service to accountancy firms since 2007. We provide credit control service on a daily basis to 3 major UK accountancy firms (each approx. £10m t/o) and have managed the sales ledger for a top 50 firm for over 7 years.
Retaining strong client relations is of key concern to each accountancy firm we deal with, both with their business clients and individuals, who can often be high net worth or high profile personalities.
Sterling contact clients on behalf of each accountancy firm under their brand. We follow a defined process, working in a customer service oriented manner to ensure that clients pay promptly and happily. Where clients are overdue the service protects the Partner – client relationship by taking the awkward discussion away from the Partner. This process has been described as the ‘good cop, bad cop’ approach by our customers. In addition to protecting the Partner the service has been seen to improve client relations by improving query resolution and responses to client billing inquiries.
Sterling have improved cash flow (measured by DSO*) for all of our accountancy clients by at least 20%, with most seeing an improvement of over 30%.
In a recent trial where Sterling worked for 20% of a firm’s partners we achieved a 37% improvement in cash flow after 4 months.