Credit Control Service

Outsourced Credit Control Service for Recruitment Agencies in the UK

Credit Control experts are critical to any business – they optimise cash flow, reduce bad debts, contribute to healthy profits, and enable companies to operate efficiently and prosper. Without them, the companies would struggle or fail to reach their full potential. However, suitable inhouse credit controllers are hard to find, and the one with that fit your requirements may be expensive. So, it is essential you work with the right resource to manage and look after your recruitment agency’s cash flow.

You can consider availing outsourced credit control service provided by RPO agencies based in offshore locations. Not only will it reduce your business overheads, but it will also allow you to work with a dedicated team of experts with extensive experience and training.

QX Global Group offers bespoke recruitment credit control outsourcing service to recruiting and staffing companies in the UK.

Why QX

At QX, our offshore team ensures that your organisation’s cash flow moves seamlessly, and you receive your payments promptly with strict adherence to credit control best practices and process excellence. At the same time, our staff takes up a high-touch approach in their communication with your clients, intending to strengthen your relationship with them.

Customised for your staffing business, our staff takes up a structured and targeted approach to manage your credit control process. From the beginning, we coordinate with you to determine and define a chasing plan, with regulations set for credit limit and the frequency of reminders to be sent to the client through various channels such as emails, letters, fax and phone calls. Detailed reporting weekly and monthly with measurable data on performance metrics will give you precise and transparent information on cost reductions and improvement in the credit-control process.

Our recruitment credit control outsourcing service includes:

Customer Master Data Management

Setting up New customer account by using customer setup form
Filling new supplier form for customers
Amendments to existing master records
Periodically credit check for International and Domestic customers both new/existing

Calling customers

Courtesy calls for receipt of invoices
Reminder calls for invoices getting due
Chaser calls for overdue invoices
Follow up calls for payments
Reminder calls for missing remittances
Updating notes against invoices after the call

Email Customers

Sending statement of outstanding invoices
Reminder Emails for due invoices
Chaser Emails for overdue invoices
Follow up Emails for payment reminders
Final Reminder Emails

Dispute Management

Liaising with consultants to resolve dispute related to rate difference
Chasing PO’s with consultants and/or end clients
Collaborating with internal billing team to resolve any issues related to invoice
Liaising with AP team at end client to resolve any queries or to get payment approvals
Reconciliation of accounts with outstanding customer statements
Adjustment/credit note management
Resolving unbilled amount on Selfbill Accounts
Maintaining query log and monitoring it
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Cash Posting and Allocation

Download and posting of daily receipts
Cash allocation for Open invoices for Selfbill and Direct accounts

90+ Aged Debt Reduction

Helping clients in reducing their 90+ aged debt by using best-in-class practices
Help clients in reducing Bad-debts

Reporting

Daily cash collection tracker by controllers vs cash targets
Quarterly SLC report
Monthly Cash Hedging report
Monthly Top 10 debtors report
Monthly Aging report vs Aging target
Monthly invoice and credit report
Monthly DSO Reporting
Unallocated Cash Report vs target
KPI Reporting for the credit control and cash application team
Performance Dashboard with Excel and PowerBI capabilities
Ageing report with comments for sticky debtors
Provision for bad debts

Support services External Auditors

We support in Payment or Invoice audits done by banks.
We provide allocation details with its remittance to succeed in audits

Need support to reduce your recruitment agency’s bad debt?

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