New service helps credit crunched business get paid on time
01st April 2009
PRESS REALEASE
NEW SERVICE HELPS CREDIT CRUNCHED SMALL BUSINESSES GET PAID ON TIME
Aylesbury-based business consultancy Isocube has launched a new service to help credit crunched businesses across Buckinghamshire - bespoke credit control.
The service is aimed at businesses who want a better control over their cashflow, particularly in the current climate, when banks are less happy to continue to provide overdraft facilities.
Iscocube's service provides outsourced management of credit control, chasing outstanding debts and enforcing procedures to ensure that customers continue to pay on time. As a result, clients have a weekly forecast of incoming cashflow, enabling them to better plan their business, and pay suppliers on satisfactory terms.
The service has been established in response to demand from Isocube's existing clients, and has already been trialled with several companies, to great success.
"At a recent business meeting, we found the question of chasing payments high on everyone's agenda," says Marcus Potts, Isocube managing director. "People hate chasing customers for money, and worry about upsetting relationships and potentially damaging future business prospects. Too often in the real world, small businesses only chase money a few days before they desperately need it, and never send reminders."
Iscube's main business has to date been oriented towards supporting clients on sales and marketing campaigns. Credit control is, however, part of customer management process; a sale is not complete until payment has been satisfactorily settled.
"We're far from the image of traditional debt collectors," adds Potts. "We follow up on a customer's invoices as soon as they are issued, ensuring clients have received them, there are no disputes, and agree a settlement date. We are polite and professional, but being at arms length to the customer, can have a dispassionate view about our task." The service can also include payment collection - preventing the need to dispute that well-worn promise of "the cheque is in the post".
Isocube's credit management service operates a simple costing structure, proving much more cost-effective than bank borrowing, and is more flexible than using traditional invoice discounting or factoring services.
Comments
Would people be needing small loans to tie them over in the short term? Would people be shopping at discount store? Would a loan company or £ store entice customers? Which areas of business would attract customers at this time of tough credit?Online Tax Preparation
By Online Tax Preparation on 02nd January, 2010
This is great stuff. Now I WANT to make some phone calls!! Thank You.
By Michael on 29th November, 2008
Quite inspiring, Keep up the good work, Thanks for bringing this up
By Website Development in London on 18th December, 2009
The business terms push and pull originated in the marketing and advertising world, but are also applicable in the world of electronic content and supply chain management. The push/pull relationship is that between a product or piece of information and who is moving it. A customer pulls things towards themselves, while a producer pushes things toward customers.
By robert on 23rd December, 2009
First you must know as much as you can about people's needs, human culture, Internet culture. You must know what they want and what they want to hear. But do not do the same mistake that most people do. Some have the charisma but are not honest. Others are honest but do not have the charisma. So you must inspire confidence.
By daneil on 23rd December, 2009
Where else "Push Marketing" uses method to motivate their sales team or channel to deliver the result - e.g. trade promotion, sales incentive and many other aggressive performance driven marketing activities.
By Online Tax Preparation on 02nd January, 2010