Tailored to meet your staffing needs, our credit control team adopts a structured method to optimize and run your credit control process. We coordinate with you to define a chasing strategy, with definite KPIs and numbers set around credit limit and reminders to be sent to customers (emails/phone calls). You will be provided with a clear and easy-to-read report which will give you measurable information around cost reductions achieved and credit-control process optimization.
Our offshore RPO team will ensure that your organization’s cash flow remains healthy and you keep on receiving timely payments adhering to necessary compliances and maintaining process excellence. Our team maintains high-touch communication with your customers, intending to give them the most satisfactory recruitment experience and strengthen the professional relationship.
Benefit from the industry expertise of our offshore team to improve efficiency and achieve timesheet processing accuracy rate of 99%+ with quick TATs
Experience cost savings of up to 50% by outsourcing your pay & bill to a dedicated team of trained accountants
Set up a team of skilled accountants that process more than 1.65 million timesheets every year to gain an in-depth business understanding and deliver better value
Get access to customized tech stacks, automate processes, and implement cutting-edge accounting platforms for your business seamlessly
Gain access to detailed financial reports (customized to your needs) and insights to drive smarter business decisions using PowerBI and Tableau.
By moving to an outsourced supplier, we’ve had consistency of service, scalability and ability to change things quite rapidly which previously we didn’t have. What we’ve moved to with QX is that we’re using their expertise & knowledge to help us look forward to develop so we can grow and we can grow in a controlled manner using the best processes that are fit and proper for our industry.
I think the important thing with QX is that you have a relationship. You have day-to-day communications and certainly, then its something that evolves really. You’re still totally in control and QX sort of becomes a part of your company rather than your outsource partner. I certainly would recommend QX.
Here are some of the most frequently asked questions around Credit Control outsourcing. If you have a question that isn’t answered here, please feel free to contact our team – we’ll be happy to help!
An experienced credit control outsourcing partner can help your business reduce late payments and bad debts while improving your customer relationship. Such partners also allow companies to identify and implement the right technology, which in turn simplifies and automates various tasks related to credit control. Finally, outsourcing credit control also enable your business to keep a systematic and detailed record of clients, offer gentle due date reminders, provide swift query resolution, conduct polite but firm follow-ups for late payments, escalations, and dunning letters & statements.
There are several early symptoms that you should be on the lookout for before making the decision to outsource your credit control. If your business has been sending late invoices, is using outdated software, lacks standardized processes, and ends up writing off bad debts frequently, you must consider credit control outsourcing. In addition, if your finance team feels burdened with routine credit control tasks, partnering with a specialist service provider might be the best solution.
No! Experienced service providers usually pay extra attention to building trust with their customers whilst encouraging them to make timely payments. They will also provide you with regular updates and reports on their activities to ensure you’re in the loop. A third-party service provider can also help introduce a team of credit control experts to your business, which follows firm but polite, pre-defined methods for invoice chasing. Additionally, they will consult you before taking any action against disputed invoices and accounts that might be of concern.
Choosing the right partner is a key business decision that can define the success or failure of an outsourcing project. While picking your outsourcing partner, it is important to study their industry experience and knowledge of relevant tools & software. Certifications and accreditations also serve as a good means to define the reliability of a service provider. Finally, transparent communication, flexibility, and attention to detail are some other qualities that can help a service provider stand out from the rest.