Confident Cashflow

Firm, friendly credit control that supports client relationships

The Business Exchange (TBE) is a leading, independent business publication with two printed editions for Swindon & Wiltshire and Bath & Somerset. As an integral part of the business community, it publishes magazines and runs well-regarded news websites, which are supported by business owners and senior managers throughout the region. TBE also hosts prestigious annual business awards and operates a VIP membership network.

The brief

The Business Exchange founder Anita Jaynes, who set up the media organisation in 2013, was looking for support with credit control.

We had previously drafted the company’s terms and conditions and also provided an outsourced credit control service on an ad hoc basis, assisting with chasing unpaid invoices, especially before the financial year ended.

We believe that consistent effort is the key to successful credit control. So, we shifted to offering our service on a retained basis only. When Anita once again asked for our support, she was happy to become one of our retained credit control clients, opting for our minimum package of two hours per month.

The solution

When The Business Exchange needed to streamline their credit control, they wanted a solution that was both consistent and high-quality. Although late payments weren’t a major issue, the time spent chasing overdue invoices was a drain on resources that could be better used for running the business.

Anita was especially keen on a gentle approach to ensure her strong client relationships were preserved.

We were given access to The Business Exchange’s accounting software, which enabled us to see at a glance all outstanding invoices. This also allowed Anita to mark specific accounts as ‘do not chase’, which is often necessary when there’s an ongoing issue or a prior agreement to extend payment terms.

Our first step is always a friendly email from Confident Cashflow. This initial message introduces us and operates on the assumption that the invoice may have been paid but not yet reconciled, or simply overlooked. We are never heavy-handed, though we can escalate our approach if needed.

Because our service is not white labelled, the emails come directly from Confident Cashflow. This clear external communication often prompts a quick settlement of the debt.

The outcome

Since we took over The Business Exchange’s credit control, not only have we freed up time for Anita and her team, but in just six months we’ve reduced the outstanding debt by 67%.

Anita said:

“Although some clients take longer to pay, it’s all about understanding those reasons and maintaining the relationships we have. So when we were looking to outsource credit control, we wanted it to be a gentle process, and to be confident that our clients weren’t going to be pressured but to feel nurtured and looked after. Nicki and her extended team have absolutely fulfilled this. They are on it, come up with ideas, and are very competent and professional.

“Often, outsourced credit control is run by large providers, and you are just a number in a machine. This isn’t the case with Confident Cashflow. They have a really personalised, friendly service, both for me and for my clients.

“Since Confident Cashflow took over our credit control, it has taken this off to my ‘to do’ list which, as a small business owner, means I can concentrate on the parts of the business I enjoy and am good at.”

Looking for support with credit control? We can help. You don’t need hundreds of outstanding invoices to see a difference – just a few can be enough to significantly improve your cash flow once the money is recouped.

Our minimum contract is just two hours a month, making it easy to get started. For more information about outsourced credit control, please get in touch.