Insight and control over collections performance
Whether your client is in an intensive care situation or formal insolvency proceedings, the sales ledger is often the largest asset. So it’s vital that it is being recovered efficiently and that, as the appointed Insolvency Practitioner or incumbent funder, you have sufficient insight into and control over collections performance.
Hilton-Baird Collection Services can provide a multi-tiered ledger monitoring service to provide ongoing visibility, assurance regarding the ledger’s future collectability, and a governance framework where ‘Newco’ is appointed to collect the ledger.
Our three service level offerings can easily be escalated depending on events and range from a ‘lite’ daily extraction of all sales ledger information, through to a more thorough service that combines ongoing ledger analysis, verification and reporting with the collation of the all-important paperwork to support the ledger.
Whilst a beneficial service in itself for both the IP and funder – in terms of monitoring the flow of cash into the business, assisting with compliance and providing assurance – the different stages can be invaluable in the event external collections resource is subsequently required to get the maximum value out of the ledger, and can be preceded by our pre-insolvency ledger review service.