Aged debt is money forgotten? Learn how we brought down aged debt from 800K Pounds to under 180k Pounds in less than 6 months.
June 9, 2017
Retrieving on-time payments is a painful & annoying process in the world of services. Companies, small and big, end up releasing money only when forced to and reminded to. This usually happens because they want to maintain their working capital and paying their vendors would stop them from keeping a liquidated cash flow. However, it is a huge financial bottleneck for companies that often rely on this incoming cash to execute their quarterly strategies. Let us explain a case that we solved for one of our clients who was facing severe aged debt.
Our client – XV Services(Name changed for anonymity), was in severe distress and distraught due to their massive aged debt problem. They were supposed to retrieve around 800k pounds from their client and were kept in the dark about the accounts. After piling debt for more than 6 months, the strategy team at XV was out of options and that is when they decided to reach out to an efficient IT offshore company.
After our first session with XV, We immediately decided to create a highly skilled team of 2 professionals with 10+ years of experience in the credit control industry and led out a blueprint for recovery of the debt for our client. This was done in cognizance of the fact that they still wanted good relations & future business from their client.
As part of the execution, We extensively sorted their issues, organized arrangements with their client, and resolved any outstanding issues. We kept sure that our client was involved in our strategy for recovery of their debt.
Eventually, with mutual coordination, patient planning & efficient execution, we were able to bring down their aged debt from 800k Pounds to under 180k Pounds in less than 6 months.
At Unipath, we understand that outsourcing payroll, accounting, or any internal department work to an offshore outsourcing company can be extremely challenging. However, we assure you that our focus is to be 100% associated with our clients and to solve their problems with complete integrity, punctuality, excellence, and respect. We look forward to being your partners in your growth journey. Reach out to us at email@example.com and our dedicated key account manager would arrange everything for you.