Company description
30 years experience delivering and managing Credit Control, Credit Management and Overdue Debt Collection operations and related functions teaches you a lot about the correct and incorrect way to approach previously valued customers that have developed payment performance issues, sometimes the problem is temporary sometimes its more serious therefore a professional sensitive but firm approach founded on engagement and objective dialogue is required.
CMO’s management has through years of experience continuously developed and refined the skills and techniques CMO has today to effectively provide localised Credit Management services, furthermore CMO operates in a manner that ensures we (where possible) preserve and restore important supplier / customer business relationships while promptly obtaining the all important business overdue account payment in a cost effective manner.
Traditional Debt Collection services are based on an approach of blame and penalty therefore the resulting impact on the business relationship between the supplier and customer is detrimental to future business opportunity should the supplier wish to retain this option.
What different about the CMO’s approach ?
At CMO we have an objective, logical, practical yet determined approach to resolving overdue account issues, issues that can be detrimental to supplier /customer business relationship.
The CMO core ethos is to help our clients maintain good customer relationships while delivering positive cash flow, reduced bad debt ratios and increased profitability to our clients business, CMO rarely have to resort to Legal Proceedings and we strongly advocate against debtor litigation on the basis that the cost to return ratios simply illustrates that obtaining Judgment against debtors is generally nothing more than an empty victory that rarely results in payment, prompt payment or full payment and therefore more often than not debtor litigation is an expensive unproductive process and a complete waste of money, it also totally destroys any future potential supplier / customer business relationship.
CMO terms of business are straight forward and we have summarised below the main points which includes, the types of debt and debt values we manage, our fee structures etc. ?
CMO manage business to business debts only.
CMO collect overdue accounts with a value in excess of €5,000.
CMO don’t charge any file opening fees for debts with an age less than 1 year.
CMO have a simple fee structure of commission applied against the value of any payment or return of goods made by the debtor from the date we receive an account for collection the rate charged is based on the debt oldest outstanding invoice age with different rates depending on whether the debt is less than / or more than 365 days old at the time the account is placed for collection.
CMO always instructs the debtor to make payment to your bank account directly or cheques etc. sent to our office payable to your business to ensure that you receive the working capital cash flow benefit of your customer’s payment (your money) immediately.
CMO invoice our commission fees against the value of payments made when the debtor payment is proven / confirmed by your office, thereafter we expect immediate settlement of our fee invoices because your business has already received the benefit of the debtors payment before our fee invoice is issued
CMO charge file opening fee of €75.00 for debts with an oldest invoice agae in excess of 365 days, this file opening fee is required to offset the overhead cost of managing seriously overdue accounts because the collectability of accounts with an age in excess of 365 is approximately 12.50%, we trust you understand the principal applied here.
CMO’s value for money proposition is simple, we provide our expertise and resources to you free of charge at our own expense on the basis that we are rewarded for results i.e. our fees are for productivity through payment achievement not activity or function based billing.
CMO’s cost of service is directly related to the cash flow and reduced bad debt benefit to your business
CMO’s fees structure is fair and competitive
CMO’s testimonial to the quality and productivity of our service is that we have satisfied clients and clients customers from a very wide range of business sectors from Small & Medium Enterprises to Fortune 500 companies, we would be happy to ask our clients to provide you with their own review or testimonial regarding their customer satisfaction experience with CMO if required.
We trust that our service outline above meets with your interest and approval and we look forward to the opportunity to make a more formal proposal regarding how we can deliver the benefit of our services quality to meet your current and future business requirements and look forward to exploring this further with you in due course
