Delivering value to Investec through receivables expertise
Background
Investec Capital Solutions approached the team at Hilton-Baird Collection Services regarding a book printing company with over 50 years of experience and a reputation for providing high quality printed products. The team had previously supported the onboarding of the client with Telephone Debt Verification.
Unfortunately, the business suffered a downturn, and an insolvency process was required. Investec subsequently re-engaged with Hilton-Baird Collection Services to carry out a verification and collect out of the outstanding sales ledger, in order to recover the exposure on the Invoice Finance facility
The challenge and solution
Central to Hilton-Baird’s involvement was a robust Telephone Debt Verification (TDV) process ahead of the migration of the sales ledger to Collect Out. Our TDV approach, involved direct contact with a broad base of customer accounts to verify outstanding balances, payment terms and customer relationships. This comprehensive verification process not only enhanced the accuracy and collectability of the sales ledger but also offered actionable intelligence for the lender, identified potential risks early and ensured transparently informed funding decisions.
During this period, our team attended the client’s site, gathering an up-to-date ledger and all relevant books and records to underpin the integrity of the sales ledger. By handling these complex collection and verification processes on their behalf, this gave Investec the comfort that all required collection activity was being closely managed to ensure a successful outcome.
The result
The tangible results of our engagement were impressive. We successfully collected out 91% of outstanding debts, surpassing the Funds in Use on the ID line of just over £1million, with the surplus funds being used to reduce exposure on a small term loan.
This outcome not only demonstrates Hilton-Baird’s ability to maximise recoveries but also highlights our values as a partner that mitigates risk, provides operational efficiency and delivers the transparency and compliance funders need. Our seamless coordination with Investec’s team, together with our comprehensive TDV service, proved essential in reducing exposure and building trust at every stage.
Neil Galloway, Head of Credit, Investec Capital Solutions remarked:
“Hilton-Baird Collection Services provided an excellent service in this collect out process. Their tireless chasing calls, emails and attention to detail led to a very impressive recovery as a % of the outstanding sales ledger. There have been countless queries to work through and resolve with debtors, all of which have been carried out and communicated to us clearly and promptly. I would not hesitate to recommend the team at Hilton Baird Collection Services, they have delivered great value to us on this and numerous other cases over the years.”
To discuss our range of services for asset based lenders and insolvency practitioners, from pre-insolvency contingency planning to sales ledger recoveries, contact our award-winning team on 023 8070 6981 or request a call back.
