Success Story - Rigging Services, UK

Credit Control

Overview:
Rigging Services, circa £1.8m turnover per annum, with 300 live customer accounts.

Problem:
Rigging Services staff were not experienced in credit and ledger management and they were unable to dedicate the level of focus required for this critical function.

Goal:
Reduce debtor days to an acceptable level and maintain stability.

Solution:
Sollertia took full responsibility for controlling sales ledger administration including:

• Cash allocation and reconciliation of accounts
• Setting up new accounts and dealing with customer queries
• Collecting customer debts
• Sales ledger was reconciled with ongoing credit control via its online credit management system

Outcome:
Within 3 months Sollertia had:

• Enabled Rigging Services to improve its business processes
• Reduced debtors days from over 80 days to just 55 days
• Improved cash flow considerably saving £3,000+ bank interest

“In every activity where we are supported by Sollertia the operations actually work better than when we had similar in-house departments”.