Over 60-day balance dropped to less than 2 percent of the total receivables; borrowing costs dropped to $1,793/month: a savings of $58,884 in interest per year.
Cash flow increased by $1.5 million a month and increased capital to acquire companies through increased capital.
Secured credit risk resulted in cash receipts for formerly uncollectible, severely past-due balances, and 85 percent of installment notes were paid without third party intervention/cost.
Global Leader in Managing Credit Risk
CEOs, CFOs and Controllers choose The Credit Department because we offer one complete solution to monitor, report and manage trade credit risk. It’s not a box solution and it’s not just outsourced credit and collections management. While in-house credit departments or credit managers only have so many tools, TCD can fully integrate with their processes with a complete software solution and a full team with years of expertise in trade credit, trade receivables and collections. Our SMART software not only identifies issues within your existing system to improve, it also grows with your company for improved front office forecasting and reporting. You can improve customer relationships as well as credibility with lenders and investors for future financing.
If your business is having trouble getting paid on your terms or lacks the data to flag an emerging customer trade credit risk, TCD can provide real-time data and analysis to support successful trade credit terms and customer communications to reduce your risk. We know your customers because we work in more than 100 industries. We can identify the trade credit risks up front, support late payer issues and also make recommendations for improved receivables management, cash flow and cost reduction.
Check out these TCD client success stories!
See the difference for yourself. Receive a free consultation from TCD by calling 1-800-451-0164 or emailing firstname.lastname@example.org.