Leading Computer Software Developer – UK

Our client, a supplier of computer software systems provided solutions to a prestigious retailer in London who delayed payment time and again. After making one too many promises to pay the overdue invoice was escalated to be dealt with by our debt recovery team. There was no agreement in place for waiting any longer for the debtor and absolutely no reason for them to dispute the payment.

Our team accepted the work on a no win no fee commission basis and began their investigation. We swiftly made our way through the gates, making direct contact with the MD of the debtor company and explained that our client is now due additional payments according to statutory law, and although they had been willing to offer some lenience in the matter, the debtor had now exhausted their patience and they requested assistance. Our approach was aimed at maintaining the relationship as the very nature of the product involved requires our client and the debtor to remain in contact and cooperate, moving forward.

The same day as the debtor received our contact they offered payment of almost 50% of the debt and the remaining balance was negotiated to be received within a fortnight (subject to additional late fees and interest being paid). Our client accepted these conditions and we proceeded with the collection.

Result: business relationship unaffected, no extended payment terms offered on future business to this debtor, no need to threaten to involve solicitors to recover the situation, no legal fees. Within 3 weeks our client had received their full invoice amount plus additional amounts paid by the debtor for paying late, which covered our win fee commission entirely.

Invoice paid in full c. 60,000 pounds – no loss to client.

Cash flow concept.