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Sterling reduce average payment days for a top 50 Accountancy firm by 58%!

Sterling Credit Management provide outsourced credit control service to a number of UK accountancy firms. Over 10 years of doing so we have perfected the difficult balance of maintaining sensitive customer relationships whilst getting paid promptly. One of these clients is a top 50 London firm who had a DSO of 95 days when they approached [...]

2018-08-08T12:13:11+00:00August 7th, 2018|Categories: Accountancy, B2B, Business, credit control, Debt Recovery, News, Outsourcing, SME|Tags: |

Working around a restrictive system.

In an ideal world your credit control service should never be stuck completing admin duties. Any time away from the phone, chasing outstanding payments is time lost. Our goal is to reduce admin time as much as possible to ensure that our client gets the most out of our service and we can continue to collect [...]

The office of the Small Business Commissioner is expected to be operational by the end of 2017.

Secretary of State for Business, Greg Clark, announced the appointment of Paul Uppal as the Small Business Commissioner. The appointment of the SBC builds on the Government’s programme of support for small business, since 2010 including: British Business Bank programmes supporting £3.4 billion of finance to over 59,000 smaller businesses; over 50,000 Start-Up Loans worth almost £340 million; [...]

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 facing [...]

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 to [...]

2016-10-03T12:16:49+00:00October 3rd, 2016|Categories: Accountancy, B2B, Business, credit control, Debt Recovery, News, Outsourcing, Recruitment, SME|

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 23% [...]

2016-08-23T10:06:59+00:00August 23rd, 2016|Categories: B2B, Business, Debt Recovery, Insolvency, News, Outsourcing, SME|Tags: , , |

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 an [...]

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, tailored [...]

2016-05-05T16:41:30+00:00May 5th, 2016|Categories: Legal, News, SME|Tags: |

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 and [...]

2016-03-10T17:28:20+00:00March 10th, 2016|Categories: B2B, Business, credit control, Debt Recovery, News, Outsourcing, SME|