A small, well established wholesale business with two key locations in the Industrial areas of Mitchell and Fyshwick in the ACT approached me about a number of small to medium sized debts that have been outstanding for over 6 months. They had been sending statements and letters to their clients but all attempts requesting payment had failed. This was causing serious and unwanted cash flow problems and their financial position was becoming serious.
I sat down with the owner and demonstrated the benefits of using the EC Credit Control Debt Recovery process and how efficient and streamlined our process is. The owner agreed to give EC Credit Control the opportunity to try and collect his debts. By being able to use the EC Credit Control website and lodging the debts online EC were able to commence the debt recovery process instantly.
Within a week of the debt recovery process commencing on the client's debtors, that had been outstanding for over 6 months, EC Credit Control and the owner were receiving payments for the debts that were owed to his business.
This process has allowed our client to recover these outstanding accounts quickly and efficiently with no disruption to the running of his business. As a result he is now happy to look at other EC services that further protect his business moving forward in the future, such as implementing Terms and Conditions of Trade for protection and leverage, Veda for Credit Checking and utilising the PPSR to become a secured creditor.