Businesses know the importance of accounts receivable, yet they cannot allocate their time and resource efficiency to perform the task. All the time, effort, and money you spend acquiring new customers and delivering the products and services to the masses don't add value if equal importance is not given to collecting the receivable. Paying attention to the accounts receivable process and customer acquisition and sales tasks is vital. Otherwise, it may obstruct the cash flow and can result in causing debts for the company.
Every industry has its credit period that is followed by the businesses as a standard. And to beat the competition, you must follow this standard or still provide a better credit period than the competitor. And for the same reason, you can't always have transactions for which payments are made immediately. So, proper accounts receivable management is required to help you manage accounts receivable on a consistent and routine basis. If you cannot collect the accounts receivable on time, it loses their value as a current asset and can become bad debt. And this is not an ideal situation for any business. Therefore, it is vital to track accounts receivable.
Whiz Consulting provides outsourced accounts receivable services to UK-based businesses and helps them manage and control their cash flow efficiently. As one of the UK's leading accounts receivable outsourcing companies, we have served many businesses belonging to different industries. We help businesses with their accounts receivable ensuring that it does turn into bad debt. Our experts will track your receivable regularly and help monitor any irregularities. We help you bill a customer on time and help track the payment status, and raise a red flag when an account is due for an extended period. Our services will enable you to control your accounts receivable without compromising your core activity.
You can trust us to handle your small business accounting and bookkeeping adeptly or for large-scale businesses.Contact us to know more!
Outsource accounts receivable services can help you in the following manner –
You can invest your time, effort, and money in acquiring new customers instead of utilising your time to follow up on receivables, increasing efficiency.
Hiring outsourced accounts receivable services will be much more affordable than hiring a full-time accountant or CPA.
Outsource partner records every sale and collect all receivables keeping in mind the outstanding days, thus helping reduce Days Sales Outstanding (DSO).
Outsourced partners help create a positive barrier between you and your clients by acting on your behalf, thus helping maintain healthy relationships.
As an accounts receivable management company, we help customers streamline business cash flow. Once you outsource accounts receivable to us, we will ensure that every client pays regularly and emphasize those who do not. Our highly experienced accountants and bookkeepers at Whiz Consulting will provide an accurate picture of your business regarding any receivables, bad debts, etc. We take on us to ensure invoices are prepared and emailed to your clients using your preferred tool such as QuickBooks, XERO, etc. We then follow up and connect with your clients directly on the invoice's due date. When you outsource accounts receivable service to Whiz Consulting, our experts will understand your needs to provide you with specific and customised service.
Outsource accounting service to an expert like us to let you help with handling the task of regular follow-ups on unsettled invoices, negotiate with the debtors, send out periodic reminders, and discount the debtors who facilitate prompt payment. Partner with us for accounts receivable outsourcing services today and be assured of improving cash flow for your business.