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  • #972811
    Krissy0203
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    Hi All,

    I have recently started my own business. It is an outsourcing company for credit control. Just wanted to post it on here to get some feedback on the service I am offering. Let me know what you think, any ideas or questions??

    Just a bit about me personally – I have approx 8 years experience working in accounts and doing collections work. I have worked with consumer and commercial accounts. I have been contracted in offices to set up credit procedures and reduce days outstanding with great results. One of my achievements was working for a telco company and centralising all their debt collections to the head office, creating collection procedures for debtors, hiring and training staff for my team and reducing the days outstanding which were considerably aged at that point. My reason for wanting to start my own business is to work at home and be more available for my son as im a single parent. My child is school aged so I have business hours free to work without interruption.
    My Service – Credit Control

    I can offer a service delivering effective control of your receivables book. Your clients would be unaware that an external company is contacting them. I would contact all your overdue debtors to encourage payment using non-aggressive methods to ensure that your relationships with your clients are maintained and as far as they would be concerned I would just be an employee in your office. I would also send letters – from gentle reminder to final demands – and construct a collection procedure for your clients that you feel comfortable with eg. When reminder letters are sent, phone calls made ect. Letters would be sent on your own letterhead.

    Payments would still go to you in the normal manner, only quicker, you would only need to let me know who has paid so that I can note our records.

    As I would be managing your receivables books from the day of invoicing, you can rest knowing that someone is contacting those who owe you money and is dedicated to following them up making sure that the payment comes to you in a timely manner. This gives you the time to focus on your core business rather than taking time out to chase money. Slow payers would be regularly followed up and persuaded to regulate their payments without you losing their business. I will also supply a weekly report regarding the status of debts.

    Credit Controllers can cost approx $25 per hour to hire in your office, just in wages and if you pass an invoice for $1000 to a debt collection agency, you would be invoiced for $150 when all they may have had to do is send them a letter!! I charge just a weekly fee plus the cost of phone calls (I am looking at VOIP to cut out this cost) and postage. As I am just starting up I am only offering collection services at this point but will be looking at expanding to all areas of Account Receivables and Payables.

    Fees for Credit Control Service – For the 1st month for you to trial this service, I am willing to take 25% off these fees.

    50 or less debtors – From $40 per week
    51 – 100 debtors – From $80 per week
    101 – 200 debtors – From $160 per week
    201 – 300 debtors – From $240 per week

    THANKS FOR TAKING THE TIME TO READ THIS!! I KNOW IT IS HORRIBLY LONG!!

    Kristen xx

    #1058006
    MyGreatIdea
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    • Total posts: 2,278
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    Hi Kristen

    Welcome to FS :)

    It’s good to know the story behind a business idea as well as what the business actually is – thanks for sharing.

    Do you have a website? If so, add it to your signature through the control panel so we can all check it out (we all like to sticky beak around here hehe)

    Good luck!
    Wendy

    #1058007
    Krissy0203
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    Thanks Wendy!! :)

    I don’t have my website set up yet but will be getting onto it asap. Still sorting everything out. Hopefully it all works out.

    #1058008
    Anonymous
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    • Total posts: 11,464
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    Hi Krissy,

    The thing I love best about your business concept is how passionate you sound about it, especially given how many people hate making those follow up calls for themselves. That alone should see you doing well, I reckon!

    Thanks for joining us and sharing your plans with us. Even though you don’t have your website set up yet, we’d still love it if you’d complete your profile in the Control panel‘ so that others can easily find out what you do and where you’re based.

    All the best, and good luck for your new venture,
    Jayne

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