A Financial Director’s opinion on outsourcing credit control

A Financial Director’s opinion on outsourcing credit control

“The outsourced solution provided by Sterling is not just cost-effective but also one that ensures effective and comprehensive management of all aspects of the accounts receivable function.” Our partnership with Sterling started in October 2012, at which time an expensive and inefficient in-house credit control function resulted in more than £500K of working capital being […]

Mandatory reports will start to be required from October 2017

We can assist you collecting late payments from your clients, the penalties which the debtors may incur should deter them from doing so again. Don’t leave late payment too late before reacting. Cash flow problems as a result of not acting quickly can seriously damage your business. Keeping a tight rein on invoice collections from the […]

Small firms deserve to be paid on time – Margot James

The UK is already one of the best places in the world to start and grow a business. It is home to a record 5.5 million businesses – that’s 1 million more than in 2010. Through our Industrial Strategy we are committed to fostering an environment in which small firms can thrive, and that means […]

Search underway for UK’s first Small Business Commissioner

The Small Business Commissioner, expected to be based in Birmingham, is just one part of a package of measures designed to tackle this and drive a real change in the UK’s payment culture. Regulations coming into force in April 2017 will require big businesses to publically report on the time taken to pay their suppliers, […]

Outsourcing credit control helps avoid late payment, and 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 […]

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 […]

Recruitment debt – Placement fee recovery

Recruitment Debt – Recovery of Placement Fee An attempt to get out of a clearly undisputable Permanent Placement Fee went sour for yet another debtor this week when they ended up paying our clients full invoice amount + late fees + interest and debt recovery fees.. Special conditions were nulled by the debtor when they […]

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 […]