Celebrating our 200th client – Ship-Elec (Electrical Wholesalers)
Dartford-based wholesaler of electrical goods, Ship-Elec (Electrical Wholesalers) Ltd, became Hilton-Baird Collection Services’ 200th client when they instructed us to recover an unpaid invoice valued at £11,000.
The UK’s award-winning commercial debt collection agency only recently expanded its debt collection services to the SME and corporate markets and has since enjoyed great success at helping businesses of all sizes with their debt recovery requirements.
This milestone comes with late payment still a significant problem in the UK, with businesses finding it a challenge to get paid on time nationwide. Hilton-Baird Collection Services’ most recent Late Payment Survey found the average invoice was being paid 17 days beyond agreed terms at the end of 2011. As a result, Ship-Elec are one of many businesses now turning to a specialist commercial debt collection agency to help them recover what’s they’re owed.
With the invoice over a year old, the Hilton-Baird team had to call on its extensive expertise and wide-ranging debt recovery methods to bring the right result. This proved effective with the full invoice value and £500 of statutory interest recovered within just three weeks of instruction. This led to the client handing over two further invoices for collection; Hilton-Baird has now collected over £20,000 in just one month.
Erika Meager, Finance Director at Ship-Elec, said: “We were desperate to get this invoice paid which represented a considerable sum for a business of our size. Increasingly, chasing the payment was taking up more and more of our time and money. Having sought the help of Hilton-Baird Collection Services we were impressed by their techniques and how quickly the debt was recovered. To other SMEs experiencing the same problems, we would encourage them to seek professional assistance rather than consume precious business resource.”
Alex Hilton-Baird, Managing Director of Hilton-Baird Collection Services, explained: “It’s a great achievement for us to have assisted 200 businesses in the UK with their debt collection requirements in such a short space of time. This reflects the strength of our team and our desire to help SMEs.
“Late payment is a crippling problem for businesses both large and small. Although we’re seeing increasing numbers trying to do something about it, many just don’t have the resource to chase late paying customers without putting the rest of their ledger at risk. As a result, we urge businesses to consider the expertise a debt collection agency can provide to enable them to focus on what they do best.”
To become our next success story contact us on 0800 9774848 or collections@hiltonbaird.co.uk. Alternatively get a quick quote to find out what we’d charge should we successfully recover your unpaid invoices.
