With the COVID-19 pandemic still in full swing and new customers thin on the horizon, the need for electrical wholesalers to ensure cashflow is flowing is more important than ever.
For many of the trades they offer credit to, unpaid invoices that were due pre-pandemic will now be sitting in the overdue debt box. But with many trades ceasing to trade under Lock Down and some falling into financial difficulties too, securing payments is likely to prove challenging and time consuming. But not impossible.
This puts electrical wholesalers in a tricky position. How to get debts paid without alienating a good customer – when they may have had to put some team members on furlough – so their credit management teams may be thin on the ground too.
An email chase service has been launched by Direct Route Collections business to business debt recovery specialists. It is already helping electrical wholesalers and builders’ merchants recover debt. And it is free with no hidden catches. The aim is to help you retain your customer and boost cashflow.
The entire process is automated taking just minutes to complete.
There is a one off £1 registration fee which goes straight to the NHS frontline appeal. You can then place as many debts as you like at any time. A few or dozens from £100 with no upward limit.
This 3- minute video explains how it works and why it is so effective:
Debts can be placed immediately at:
If you would rather talk to a member of the team
firstname.lastname@example.org, 01274 223190
Speaking of the reaction from wholesalers and merchants to this initiative, Michael Collins, Managing Director of Direct Route Collections said: “With massively reduced footfall causing a significant drop in sales, electrical wholesalers cannot rely on the government alone for financial assistance. Securing payment of debt is crucial for cashflow. The good news is that the first 600 hundred email chases have resulted in 90% of the businesses using this service receiving positive responses of immediate payments, payment promises and instalment plan offers – from genuine customers that perhaps for the first time ever find themselves with an unforeseen cashflow difficulty that has been forced upon them. It was my intention when launching this service to provide easy to access and effective support with no strings attached.”
Success stories from businesses using this service include:
“I was made aware of Direct Route’s free 7- day chase reminder service through my trade association and felt it was worth trying as I had exhausted all internal options to recover the debt. Within a few hours of submission my customer used the system to flag a partial dispute which I was able to resolve, and full payment was received. Free, easy to use and successful, what more can I say!” JS
“Thanks for providing an excellent service via the Direct Route website. Our silent customer paid in full within 3 days without the need for further action. The process was simple and delivered the results.” DC
“Thanks so much for sorting this (debt recovery payment) for me; very much appreciated. Great service. Will certainly recommend and use again when needed.” RR