Ledger management

Ledger Management is not well understood in New Zealand. The concept of employing an outside expert to manage the ledger is foreign to most businesses. Historically, this function has always been jealously guarded and nearly always done in-house, but why? Are there valid reasons why this should be done in-house and not contracted out?

A number of businesses outsource many functions these days. IT departments are outsourced to specialist firms with all the technical knowledge to make the system work, payroll and accounting services are also outsourced. So why don’t businesses outsource Ledger Management Services i.e. Credit Management Services?

When we talk about Ledger Management, we are talking about the front end credit functions of a business. Including opening of new accounts, processing and vetting statements, telephoning overdue accounts and all the day to day functions of dealing with customer queries and collecting accounts as they fall due.

There are an increasing number of businesses that have outsourced their Ledger Management functions with very successful results. The trend overseas, which we are just seeing in New Zealand, is for specialist firms being set up - for example CreditAdvice.co.nz, to look after the Ledger Management functions for medium to larger sized businesses.  Your customers won't even know we are not employees, we work from "your" premises as "your" Credit Manger under "your" control.

Some very good reasons to outsource your Ledger Management Services are as follows:

• Employ an "Expert" to collect your overdue accounts

• Passion! Employ someone who "enjoys" collecting money with a passion

• Free up "your time" to work on the parts of the business that you like working on and that produce your sales

• Peace of Mind. Do you worry about your debtors not paying?

• Improve your cash flow and get your accounts paid sooner

• By doing the above you will reduce your bad debts

• Employ a "part time expert" not a full time fill in

• No PAYE, Holiday Pay, Kiwi Saver or ACC to pay

• Someone who has "specialist knowledge" in this area

• Obtain measurable results

Why wait, call us today and we will come around and discuss your concerns to see if we can help or not.