FAQs

How do you answer the telephone?

We act confidentially in your name and all calls are answered as they would be in your company.

How do you receive payments?

We don’t receive payments directly from your customers as they won’t know of our involvement. Money will still continue to be sent to you as normal.

What workflow do you currently use?

This is very much dictated by our clients. Some work to strict chasing mechanisms whilst some clients do not use chasing letters and purely rely on calling. From experience, it depends on the industry and the profile of the customer. Sometimes, if a regimented letter chasing system is used, customers become used to it and its effectiveness can wane. We work to our clients’ instructions and will give advice where necessary.

Do you send reminders out on your letterhead?

No we don’t. Any letters that are sent out for our clients are on their letterhead. We do manage this process for a number of clients but this is an extra charge and not included in the fixed monthly fee for credit control.

How much does this service cost?

Our fees are based on average number of live debtors and the profile of the ledger. In order to give an exact quotation we would require sight of the ledger. The fees are raised at the end of the month and are payable seven days later by standing order.

What credit control software / package do you use to collect our data?

We have a bespoke package that contains all of your customer data and a log of all calls, payments and disputes. Alternatively, we can remotely access your system and use your existing software.

What is your procedure for a client who wants to pay by instalments?

If there is any situation that is outside of a full payment being received, we would in the first instance refer any proposal to you with our recommendations as to whether or not to accept it. If an instalment plan is agreed, we will enter this into our database and see that it is monitored to ensure adherence.

How do you introduce yourself?

We would introduce ourselves as your credit control department. You would have one account manager here that would deal with your account and so you and your customers would only have one point of contact.

At what stage do you take control?

This is flexible because some of our clients only involve us when a debt becomes over 60 days old, but the vast majority use us from the moment an invoice is raised. That way, we can ensure that there is little or no delay to you receiving your payment.

"I have been using MoneyCorp for about a year and a half for paying various suppliers in Euros and USD. The website is very easy to use. I particularly like being able to save suppliers' bank details so I don't have to set them up each time. There is an array of tools you can use if you wish, for example to alert you when a currency reaches your target rate, although often I go for the spot rates when I want to make a payment. Upon booking a currency you quickly get an email through confirming the amount you need to transfer to MoneyCorp, followed by another email once the transfer to your payee has been made. The whole procedure is smooth and quick and the exchange rates are competitive. "

Maura Chacksfield - SG Technical Systems Ltd

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