Samantha McKellar

Account Director @Overdue Invoices Ltd

Loughborough, GB

Our role is to ensure that companies optimise the likelihood of being paid on time for products and services provided.There are approximately 1.9 million known UK SME’s, most of which have to wait well beyond agreed credit terms for payment.The average time it takes an SME to get paid is 72 days.Almost one third of SME\'s admit that late payments from their customers result in them paying their suppliers late, this creates the \'Domino Effect\'.Nearly one in five SME’s concede that a debt of between and would make them insolvent. 12% of SME’s employ someone specifically to pursue outstanding invoices. For the other 88% this task usually sits with the business owner. Is this the best use of their time? Plus it\'s hard to be the good cop and the bad cop on these calls!When all amicable avenues have been exhausted, suppliers look to employ debt collection agencies, solicitors and the courts to help them legally recover monies owed. This can be an expensive and time-consuming exercise, with no guarantees of being paid even if you win.HOW CAN WE CHANGE SOME OF THESE STATISTICSAt Quantum Meruit we use the latest cloud based software platforms to to remove most of the headaches that SME\'s face with their accounts receivables. We provide a PREVENTION & CURE solution for OVERDUE INVOICES using automated processes. Once the process is set up our clients can have as little or as much involvement in the accounts receivable process as they wish to have. The introduction of a third-party to chase your OVERDUE INVOICES sends a very strong message to the debtor that you are serious. Most debtors realise at this point that the payment needs to take priority over other creditors that aren\'t pushing as hard for a payment.We charge a flat monthly fee for our services, which includes the debt collection and legal work right up to the point of court proceedings. PREVENTION | |