You Are Here:/Late payment

Managing cash flow and customer relations for a top 50 UK accountancy firm

This client, a top London accountancy firm,  has used Sterling since 2009. Sterling began by having discussions with them regarding their credit control function. At the time it was being managed by a finance controller and assistant, both of whom had other responsibilities which they were giving priority to. The firm was very nervous about outsourcing, in particular [...]

2018-06-06T09:52:00+00:00April 26th, 2018|Categories: Accountancy, B2B, Business, credit control, Debt Recovery, Late payment, News, Outsourcing|

We started working with Sterling Outsourcing in March 2016……..

We started working with Sterling Outsourcing in March 2016, due to the need to have a credit control function, but not having enough to justify employing someone to do the job. I cannot give anything but praise to the team, as, within 18 months, they have taken us to a position where about 90% of our [...]

2017-12-07T16:58:54+00:00December 7th, 2017|Categories: Accountancy, B2B, Business, credit control, Late payment, News, Outsourcing, SME|Tags: , |

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 tied [...]

2017-10-17T15:51:53+00:00October 17th, 2017|Categories: Accountancy, B2B, Business, credit control, Debt, Debt Recovery, Finance, Late payment, News, Outsourcing, SME|

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 beginning is [...]

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 tackling [...]

2017-04-27T10:00:13+00:00April 27th, 2017|Categories: B2B, Business, credit control, Debt, Debt Recovery, Late payment, Legal, News, Outsourcing, SME|

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, and [...]

2017-02-18T09:53:18+00:00February 18th, 2017|Categories: B2B, Business, credit control, Debt, Late payment, Legal, News, Outsourcing, SME|Tags: |

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 23% [...]

The first priority…tackle late payment

Margot James, a former business owner who supports a reduction in business rates, has been appointed minister for small business, consumer protection and corporate social responsibility. She will be part of the newly formed Department of Business, Energy, and Industrial Strategy where she will be taking over from Anna Soubry. James, who co-founded Shire Health, a [...]

2016-08-08T09:52:27+00:00August 8th, 2016|Categories: Business, credit control, Late payment, News, Outsourcing|Tags: , , |

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 experienced and reliable credit controller is the [...]

2016-08-08T09:49:47+00:00August 8th, 2016|Categories: Business, credit control, Late payment, News, Outsourcing|Tags: , , |