Cash Flow is King
April 2009
We recently came across P.A.I.D. - Payment Against Invoiced Debtors, a unique, simple to use, cost effective service, backed by over 90 years of industry experience, that provides the 3 key elements of credit management:
Information - to help safely increase company growth and trade with confidence;
Collection - to positively improve cash-flow whilst still maintaining goodwill;
Protection - to eliminate bad debt risk exposure and the pain of write-offs.
Information
Up to 5 years financial trading history of all UK registered businesses, includes access to company director’s business history, home addresses, date of birth etc., plus meaningful status reports on the majority of Sole Trader’s and Partnerships.
- Approved “Credit Risk Limits”
- New business prospecting search facilities. e.g. classifications and locations.
- Electoral Roll and Town Council domestic listings of private home addresses and telephone numbers throughout the UK.
- Marketing database powered by Kompass software, providing detailed listing of over 250,000 businesses, directors names and contact details etc.
Collection
- Robust overdue account recovery service. Over £250,000,000 of overdue debt is referred to CPA annually.
- Day 1 – Polite First Letter – 60% resolved
- Day 8 – Polite Second Letter – a further 15% resolved
- When the debtor pays, CPA sends a “Thank You” letter to ensure absolute goodwill.
- Day 15 – if still outstanding, CPA sends a Third Letter – a further 9% resolved
- On average they resolve over 84% in just 18 days, whilst maintaining the absolute goodwill of your customers.
Protection
Any debts remaining unpaid after being referred to CPA (even where the debtor subsequently becomes insolvent) will be PAID at 90% + VAT subject to the normal terms of the agreement.
The service is provided by CPA (PAID) Limited (Part of The Credit Protection Association Plc. Group of companies)
For more information contact Harold Phillips on 0845 223 2170 or email harold@diamond-discovery.com.