Need digitalised & automated receivable process?
Manage clients with bad payment record?
Not getting paid in a timely manner?
Average late payment for small businesses
Worsening cash flow is because of late payment
Small businesses have to ask more than twice for payment
Businesses believe they would have generated more revenue if cash flow was improved
Sources: Xero, ASBFEO
Xservice Credit Management
Professional Receivables Management with Cost Advantages
Xservice Credit Management specialise in help SMEs, to manage credit accounts with a systematic approach, boost cash flow, reduce potential loss from bad debts while not sacrifice sales & revenue.
We provide receivables management service, work as an extended part of your team, help you to identify what drives your own DSO & bad debts. Implement a comprehensive credit control procedure, evaluate credit risks and protect your accounts receivable and financial health, enable you to keep cash pumping into the parts of your business that need it most!
Accounts receivable outsourcing
Credit management consultation
Receivable procedure development & optimisation
Trade insurance management
Credit application assessment
Credit risk analysis & limit recommendation
Credit investigation report
Customer alert & monitoring
Debtor insolvency management
Other customised service that could meet your needs and wants
Access to professional resources
Flexibility for additional & temporary requirements
Free your time to focus on core business area
Save infrastructure and staff training costs
Control risks with comprehensive procedure
Reduce Days Sales Outstanding & boost cash flow
Grow sales without worry about money collection
A Wholesale Company Without Receivable Management
XYZ is a bus/coach company, it follows general receivable procedure like most SMEs (ie customer coming => sell goods/services => issue invoices => chase money).
July 2014, new customer A on board, referred by a friend with tens of thousands dollar sales each month. Payment delayed since the first invoice, because of the sales volume, XYZ still willing to do the business.
Customer A was in debt to the ATO and went into liquidation by June 2017. Payments stopped but XYZ did not realize until late 2017 as their payments were always delayed. XYZ found the issue when they got a lawyer for legal proceedings, spent about $1,000 on legal fees but nothing was recovered, leaving approximately $230k bad debt. (continue reading......)