Express Debt Collection

Outsourcing! Much has been written and talked about the subject. Strange, for a term that was hardly heard of just ten years ago. The word can often conjure up thoughts of overseas call centres full of well meaning, well educated enthusiastic people proudly representing an organisation based thousands of miles away. Similarly, it could represent memories of holding ages on the telephone, language barriers, cheap wages and complete frustration. The general view is that outsourcing is specifically for Blue Chip organisations, especially utility firms. That may have been the case in the past, and whilst it is believed that over half the companies listed on the FTSE utilise outsourcing, it is becoming increasingly popular with many SME’s. Apparently many small firms still think they are too small to outsource. They don’t believe there are companies that are interested in their business. Not so. As a small or medium sized business you are a highly prized asset to many firms offering their services. In truth, most SME’s are looking to expand and outsourcing can offer them access to higher quality resources. In specialised areas like IT and Finance, SME’s can find a better quality resource offshore. In many cases this can be achieved at a fraction of the cost. One area many SME’s achieve real benefits from is outsourcing credit control. Let’s face it, what small company doesn’t want/need better cash-flow. This should be undertaken in the same country as there is little doubt that having a language barrier, perceived or otherwise can be perilous in the area of cash receivables. This is definitely an area SME’s can ill afford to take risks with. The good news is there are a number of agencies who specialise in professional commercial credit control. Often, these agencies will contact debtors in the name of their client and this will usually be more effective and professional than if done internally. Another key benefit for SME’s is that this will often be done at a much lower cost of operating in-house and relieves the hidden costs of sick days, tax contributions and management. Considering cash-flow is the number one reason SME’s fail, outsourcing this area to a specialist organisation would seem a smart move. Management guru, Tom Peters, hit the nail on the head when he said “Do what you do best and outsource the rest”.