In Focus Consumer Credit
Value add
Paladin Commercial have adapted to the current economic situation and are in a position to help other businesses do the same
George Miles Chairman, Paladin Commercial george @
paladincommercial.co.uk
I spoke to a client last week, who was interested to know how we could add extra value and help his company through the cashflow issues they are facing with Covid- 19. With remote working challenges, customers hanging onto cash as much as possible and not paying bills as fast as they should, they are facing problems that no business should be. No matter what business continuity plan you have in place – I do not think anyone could have foreseen what we are now going through. The topics ranged from reviewing policies
and procedures, to debt collection and our new AP recovery service. The business world is certainly different to what any of us are used to, and in order to keep going you may need to pick the right partner to help. Like all firms, Paladin has had to adapt in a
very difficult situation. We were already setup for remote work – but we were also keen to ensure we could offer clients – old and new, existing or potential a range of services that would be useful and be major value adds.
Collections l We offer collection services – on a no collection, no fee basis.
lWe often get asked: “How come you collect cash we could not, despite our many chasers and threats?” The answer is simply third-party intervention can often show you are serious and you are following through. Often the earlier you refer a debt the quicker it will be in your bank account! l Paladin offer two services here, a white labelled service where we will phone and chase as you, and a Third-Party process where we phone and write as Paladin. Both are successful but we find the third-party route quicker. Since we started we have collected well over £1bn globally for our customers – I am very proud of that number and am looking forward to collecting even more! We have an experienced multi-lingual collection team at the ready.
Consultancy: lWe also offer a consultancy service. Free of charge, we will review your credit policies and procedures to make sure that they will be fit for purpose and highlight your collection methodology to your company. For a set fee, we are also happy to meet with you (remotely) and look at team structures, processes, letter wording, system set up, and so on.
Whatever you need, Paladin have a lot of experience to help
AP Credit Recovery: l Our latest service is an AP recovery process – a commission-based process only payable on what we recover. We discovered a lot of suppliers often hang onto credits our clients do not know about and we have a service that will help recover those – often resulting in a big upside to your cashflow. Our latest client to use this service netted
around £300,000 in actual cash recovered – and do not forget this is cash they did not know about. We have also helped them with various AP reconciliations and tidy-ups meaning that balances recorded for goods (also known as GRIR/GRNI) can also be released to P&L not only improving profitability but also clearing down payments that no longer need to be made. Whatever you need, Paladin have a lot
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www.CCRMagazine.com
of experience to help. We have access to experienced Global Shared Services leaders who can help with consultancy and SSC/ Credit/AP Department set up. We have a strong multi lingual workforce, experienced in the toughest of global B2B collections and again we have a multi-lingual AP recovery team able to handle the recovery of credits that you did not know about. Paladin’s ethos is one of partnership and
openness. We record all calls made to your customers, we can give you access to our systems – we can tailor make our collection processes to fit your firms. At the end of the day your success will be our success. CCR
July 2020
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