Business Requirement:Professional Office Supplies (POS) chose to outsource their credit control rather than investing in new internal processes, technology and staff. Working with Thornton Hope’s specialist team and ready-made technology meant they had full visibility of real-time progress through our online portal. POS trusted Thornton Hope to protect their brand and client relationships.
We achieved the following:
- Implemented up front credit risk assessment for new clients.
- Implemented improved Credit Control process in collaboration with client team.
- Provided effective Account Management to drive ongoing process improvement.
- Significantly improved Credit Management processes & results.
Improvement Project Deliverables:
- Instrumental in improving collection results and aged debt position.
- DSO reduced from 96 days to 46 days in 3 months.
- Improved customer service resulting directly from new Credit Control approach.
- Improved cash flow.
- Strong, productive working relationships at all levels, from senior management to operational team members.