Portfolio system allows businesses to upload a full ledger in one go

At ComparetheDCA.com, we know that you want to retrieve your unpaid debts with as little as cost to your company as possible. In the current climate, larger companies are often discriminated against, the theory being that the bigger the business, the more money it must have to spend on services. As a result, larger businesses are often charged more than their smaller counterparts for what is basically the same service. ComparetheDCA.com has developed a unique system that prevents distinction of this sort between businesses, whether they are large or small.

Unbiased Appraisal

The secret of this system lies in keeping the claimant’s identity out of the appraisal. It allows the business in question to upload an entire ledger in one go, and this is then sent to as many of the DCAs on the panel as the company wants. All the DCAs will see is just how much you owed and by whom, but the information provided gives no insight into your turnover or profit and, consequently, removes any potential for charging more because the client may appear to be affluent. We have negotiated great deals with all our DCAs and this method is the best way to take advantage of them. You will then receive the profiles of each DCA that is suited to your case, allowing you to compare them and decide which is best for you.

No Win, No Fee

Approaching DCAs directly, even if they happen to be on our panel, does not guarantee you these money-saving strategies. In approaching them directly you will have to reveal who you are and this could lead to overcharging. In addition, we can assure you that, through using ComparetheDCA.com, the DCA that you choose will begin work immediately. We are also able to offer a ‘no win, no fee’ within the UK to many of our clients – something that most DCAs now withhold.

Our ethos has been to save our clients money, offer them dedicated experts and give our support wherever possible. There are no sign-up fees or hidden extras, so call us today and let us help you recover what you’ve lost.

www.ComparetheDCA.com

Why do British companies not collect their overdue invoices?

Without doubt, the quantity of overdue invoices is having a negative effect on UK businesses and the economy as a whole. According to figures released by NatWest, one on five businesses is owed between, £50,000 and £100,000. With these sums impacting heavily on SMEs, the question remains: why do British companies not collect their overdue invoices?

Time…

Perhaps the biggest factor in collecting debts is time. The payment organisation BACS revealed that SMEs are forced to spend around half a day a week pursuing payments. This adds up to around 158million man hours every year spent chasing debtors – hours that could undoubtedly have been put to better use elsewhere. In dedicating time trying to settle accounts, businesses are losing man-hours in a climate where every second costs money. As a result, many decide to just sit it out and hope for the best.

…and Money

Another major factor is money. With overdue invoices hanging over them, many companies feel that they simply do not have the finances to spend on DCAs or pursuing other avenues of recovery. In addition, when the competition in virtually every marketplace is so strong, few companies want to risk their reputations by becoming involved in protracted legal cases.

However, what many business owners don’t realise is that there are free services through which you can find the right DCAs for the job. A company like ComparetheDCA.com can get you free quotes from over 20 DCAs, allowing you to source the agency that is right for your circumstances. In addition, they will have reached agreements with the groups on their panel, giving you access to special rates that you might not find should you contact a DCA directly. While prevention is always better than cure, there are resources available to allow you to recover what you are owed at minimal cost and with minimal impact on the daily running of your business.

www.ComparetheDCA.com

Late payers cause businesses to struggle

For SMEs and businesses in their first year of trading, late payments can hit hard. Too many delays and the financial situation can become intolerable and even be a contributing factor for business failure.

SMEs are owed an average of £39,000. Half of UK businesses are currently facing this situation – that’s 861,000 firms that are struggling to make ends meet because their customers aren’t paying on time. The hardest hit industry is retail and distribution, who are owed in excess of £16.6billion. The real surprise is that large companies that are the worst offenders, responsible for 48% of SME late payment debt.

What can you do?

You don’t have to put up with late payments. The EU Late Payments Directive is due to come into force in 2013, making 30-day invoicing periods compulsory. While we wait for the legislation to go through, there are organisations that can take the worry out of chasing late payments for you. There is no reason to suffer in silence – if you’ve done a job you expect to get paid for it. Rather than simply accept that late payments are ‘a fact of life’, you can utilise free services that help you to claim back what is rightfully yours. This service is available to businesses of all sizes, not just the big multinationals. So if late payments are starting to affect your business then it may be worth your while contacting a company such as ComparetheDCA.com, who can help get your business back on track.

www.ComparetheDCA.com