On 18th November Sterling Outsourcing Sp zoo came to an agreement with Octempo Receivables Management Ltd to acquire certain assets including Octempo’s debt collection client base.
In 2016 Sterling were engaged by a $500m turnover global tech company to provide billing and accounts receivable services for Europe and the Middle East. This function had previously been run from the company’s US team, but restructuring meant that ownership had moved to their London office.
This client, a top London accountancy firm, has used Sterling since 2009. Sterling began by having discussions with them regarding their credit control function.
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 in an ever more efficient way.
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 debt was more than 30 days old, to less than 20%.
“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 up in an overdue debtor book.
We can assist you in collecting late payments from your clients, the penalties which the debtors may incur should deter them from doing so again.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 up in an overdue debtor book.
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
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.
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.
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.
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
