Focusing on growth – Stay Local Publishing
Arguably, the primary benefit of handing over an unpaid invoice to a commercial debt collection agency is the expertise such a resource can provide, thereby enhancing the likelihood of a successful recovery.
What is often overlooked, however, is the importance of recouping the time and resource required to focus on gaining new business, something that wasn’t lost on the owners of Stay Local Publishing, a Hampshire-based publishing firm that sold advertising space in regional magazines.
Several of the business’ customers were unable to adhere to the 14-day credit terms on offer, which led to the appointment of an in-house credit controller to assist with the collections for two days a week – to no avail.
What made their position particularly complicated was the fact that many of the debtors had been regular customers since Stay Local Publishing was established in 2005, making it especially difficult to make that decision to pass the debt over to a collections agency.
But having been recommended to Hilton-Baird Collection Services by a former client of ours, news that one of its customers was allegedly on the brink of bankruptcy prompted the owners to pick up the phone to us.
With time of the essence, our team used its experience to encourage payment from the customer through a full and final settlement offer. As a result, Stay Local Publishing has since enlisted Hilton-Baird’s award-winning services on an ongoing basis in order to benefit from our success-only approach whilst using the time regained to concentrate on increasing sales.
“Using Hilton-Baird has given us the time back to focus on growing our business,” explained Rachael Mills, Director of Stay Local Publishing. “Though we initially requested that they help to recover one overdue debt for us, we’ve been so impressed with their service that we now enlist their services on an ongoing basis.”
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