Duty To Report – Prompt payment the battle continues…
Why should SME’s take a good look into outsourcing credit control options early on in the payment cycle process of their business? ….to help avoiding as much late payment as possible. For some that’s only realised when it’s almost too late. The blame may often lay in their own hands not just their debtors, when […]
New measures to support the Prompt Payment Code have been confirmed.
New measures to support the Prompt Payment Code have been confirmed in a letter sent to signatories of the code from Small Business Minister, Margot James and Philip King, Chief Executive of the Chartered Institute of Credit Management (CICM). More than 1,800 firms are signed up to the Prompt Payment Code, with each one committing […]
Late payment, the domino effect….
At least one fifth of UK corporate insolvencies in the past year were caused by late payment or the insolvency of another company, according to new research by insolvency and restructuring trade body R3. A survey of the insolvency profession reveals that late payment for goods or services was a primary or major cause of […]
Employ or Outsource your Credit Control position?
Employ or Outsource your Credit Control position? Obviously I will say outsource, but with good reason. Working in an office filled with teams of credit controllers gives me plenty of great insight into how credit control truly makes a difference between make and break for many SME’s, and how time consuming the process is. Having […]
Another leading London Accountancy firm chooses to outsource credit control to Sterling
Another leading London accountancy firm signs with Sterling. A third leading London Accountancy firm has chosen to outsource credit control and debt recovery to Sterling, this follows a successful trial period. The firm ran a trial with three of their 15 partners for 4 months. During this period Sterling managed to improve cash-flow for the 3 […]
Small business quarterly tax returns?
Does the government really understand how business works? This is a question being asked by hundreds of thousands of small firms as we near one of the most significant regulatory changes that could add time, effort and cost to doing business. Requiring small firms to account for their corporation tax on a quarterly basis, rather […]
Enterprise Act becomes law, will it help small firms resolve issues such as late payment?
The Enterprise Act includes measures to: establish a Small Business Commissioner to help small firms resolve issues such as late payment include the actions of regulators in the government’s £10 billion deregulation target and increase transparency through annual reporting requirements extend the successful Primary Authority scheme to make it easier for businesses to access consistent, […]
SME’s increasingly feeling the strain of late payment in the UK. We provide a simple checklist to help you stay ahead of the game
If you do regular business with slow paying clients, you are probably spending much more time chasing payments than you should be. This is not the best use of your work time and can undermine your business relationships with those clients. Prioritising credit control (payment collection) activity will go a long way to improving your collections […]
How a growing business benefits from outsourced credit control:
Requirement: Challenged with fast business and customer growth, we were approached by this medium sized UK manufacturer with their business needs. One of those being, they wanted the most cost effective, efficient way to manage the increased workload of invoice processing, follow up and order processing, which the growth in new business brought with it. […]
Insolvency debt collection
Insolvency Practitioners and debt collection. Resource and experience are available to undertake a range of investigations. Sterling work with Insolvency Practitioners to value sales ledgers and to cost effectively collect book debts quickly and efficiently. Sterling Debt Recovery provides a proven service to Insolvency Practitioners working with Receivership – Liquidation – Administration – Company Voluntary […]