CMG UK overview rev May 2016


Welcome!

Jenny Esau FCICM Managing Director

Credit Management Group UK

Credit Management Group UK provides complete solutions to your commercial credit management issues. We have provided expert commercial credit management services for the last 25 years.

Industries we work for include: National Utilities, Construction, Manufacturing, Recruitment, Distributers, Architects, Accountants, Solicitors, Barristers, Marketing Companies, Web Site Designers and many more.

The size of our clients range from micro businesses to £103m turnover private companies and National utilities.

We have a track record of consistently delivering beyond our client’s expectations.

Whatever your issues with business to business debt, we can help you improve your cash flow in a customer focused way, reduce your risk to bad debt and protect your profit.

We are experts in cash flow solutions.


Order to Cash Process

We help clients improve their ‘order to cash process’ with the following results:

- Improved cash flow

- More accurate cash forecast & target setting

- Increased profitability

- Efficient & streamlined processes

- Reduced risk to bad debt

- Fully implemented credit policy

- Evaluated sales ledger and report on recoverable

debt.


Outsourced Collections- Virtual Credit Control

Department

Training Services- In house or open courses

How do we do it?

Or a blend of the above services to suit your business objectives

Consultancy Services- Design and implement a

bespoke Credit Policy

Support Services - Unlimited telephone & email

support

Debt Recovery Services - Charged on a success fee basis

Toolkit- Easy to use, affordable,

expert advice


Outsourced Collections

CMG UK can be your 'virtual' credit control department and give you total peace of mind

• Customers pay the Client direct so they stay in control

• Reduced overheads compared to additional employees

• Proven track record reducing debtor days over a short period

• All communications are carried out seamlessly in the Client’s name

• Our collections staff are Chartered Institute of Credit Management qualified or in the process of gaining CICM qualifications


Training Services

Open Training

• How to use the small claims court to get paid

• Credit control for legal practices

• Improving cash flow for businesses

• How to improve collection performance

• Insolvency - The Practical Implications for you,

as a Creditor

In House Training

• Tailored to suit individual business needs and objectives


Toolkit

We have vast amounts of experience in creating an effective and efficient credit control function, and now we want to share our knowledge with you.

Everything will be Covered

• How to credit check your customers

• The terms and conditions you need to protect your business

• Template letters, forms, calculators and in-depth guides on how to use them

• How to negotiate payment and use leverage in a customer focused way

…..And much more


Consultancy Services

We reduce financial risk, improve collection performance and protect profit.

• Implement a disputed invoice resolution system.

• Implement meaningful management reporting to allow the setting of KPIs

• Comply with the Court’s pre action protocols and improve court action process

• Design and implement a full credit policy to meet the company’s objectives

• Carry out a review on the 'order to cash' process and provide a report highlighting underperforming areas with recommendations for improvement

Up to 35% funding may be available for eligible businesses*

*subject to funding criteria


Debt Recovery Services

We use Late Payment Legislation, which in most cases will cover our fees.

• Charged on a success fee basis

• Tackle disputed debts successfully

• Contact each debtor personally

• Negotiate payment with the debtor

• Advise on the best way of enforcement


Support Services

For companies who do their own credit control but want access to expert advice when needed

• Friendly service

• Dedicated account manager

• Unlimited telephone & email assistance

• Rolling monthly contracts with no-tie-in period

• Credit risk reporting; to include director searches

• Unrestricted monitoring of your clients (current & prospective)

• Regular newsletters detailing any changes in legislation

• Free access to our Credit Management Toolkit

From as little as £50.00

per month


Case Study

Downstream Access Company Turnover: £103m, High growth, Invoice finance facility

Issue - Debtor days at 97 - No terms and conditions of

sale- Manual invoicing using Excel

Result - Debtor days reduced to an

average of 30 - Significant reduction in

time for producing invoices and improved error rate

- Protection from consequential loss claims

Solution - Provided outsourced credit

management service - Worked with solicitors, directors and

sales to produce new terms and conditions appropriate for the industry

- Set up process to role out new terms and conditions to existing customers ensuring acceptance by conduct can be demonstrated if required

- Identified and integrated billing software customised to suit business needs.

- Designed and implemented dispute resolution process ensuring buy in from all departments


Case Studies

Building Services ConsultantsTurnover: £600k

Issue - High debtor days

Solution - A diagnostic review covering ‘Order to Cash’

process identifying underperforming areas. - Designed & implemented an in-depth credit

policy. - Coached existing staff to carry out credit

control functions

Result - Skilled and motivated credit control

staff - Reduction in debtor days from 92 to 45

IT Support CompanyFranchised

Issue - Credit policy and procedures required to roll

out to all franchisees - Policy to include general advice to franchise

holders to help them implement the policy

Solution - Designed & implemented an in-depth credit

policy together with training notes - Ran classroom style training course for

franchise holders

Result - Consistent and proactive approach to

credit management across the brand


Testimonials"From the first day we started working with CMG UK, we haven't looked back! CMG UK have taken away the pain of chasing up invoices and have provided an excellent, efficient service from day one. We have seen a dramatic improvement in the speed at which late invoices are paid and the team at CMG are a pleasure to deal with.”

Susannah Howard, Client Services Manager, Milky Tea Limited

“The training CMG UK provided gave us much more confidence in negotiating payment and overcoming excuses. The changes recommended to our collection letters have made a difference in the success rate of clients who pay their outstanding bills. The course has enabled us to improve the overall cash flow of the firm”

Chris McGuigan, Finance Manager, Kirwans Solicitors

“We had suffered with poor credit control for some time and in 2005, we asked CMG UK to come and talk to us about improving our performance in this area. They designed and implemented full Credit Management Procedures, systems and coached our staff so they understood fully their role. A very worthwhile investment.”

Bryan Pullan, Director, Gilling Dod Architects

CMG UK designed and implemented a functional credit control system which we have adopted religiously since implementation in 2004. They converted our existing system in to a streamlined procedure which reduced our payment period from 92 days to a consistent 45 massively improving our cash flow.

Steve Hunt, Steven Hunt & Associates, Building Services Consultants


TestimonialsCMG UK helped us to establish a clear procedure for the management of credit within the company, in a structured process over a period of months. They were very organised and professional in their approach, and took the time to understand fully, the specific issues that affected us as a company, to tailor support to our individual needs.

The support from CMG UK has helped us to move on an grow as a company, and I’d recommend their services to anyone who needs support and advice with Credit Management issues.

Paul Strongman, Managing Director, Wishtrac House Ltd

Without doubt the systems and processes introduced by CMG UK have had and are continuing to have a very positive impact within The PC Support Group. We have a very keen focus on being outstanding in our customer service and maintaining a very strong customer relationships. Within this is mind the entire system and process has been tailor made by CMG UK to suit our individual and specific needs.

We all now have the methods, information and the knowledge to tackle any credit control issue with confidence and professionalism, which maintaining the strength of our customer relationship.

Simon Albert, Operations Director, PC Support Group

The course was informative and tailored to suit those attending. The delivery was humorous and informal, but maintained a professional manner. Well done CMG UK, you did a great job and we learnt a lot

Janine Drew, Fundraising Manager, Roy Castle Lung Cancer Foundation


Contact Us

For more details call: 0845 054 0504

or email: [email protected]

CMG UK overview rev May 2016

Economy & Finance

Transcript of CMG UK overview rev May 2016