Our Services include the following
We are a preferred supplier to the British Franchise Association
Call Mike Segall now on 01544 294224 to find out more information about our services.
Money Collectors recover profits and cash flow from duplicated payments
Duplicated payments are a bigger problem than most companies realise. Studies by the Accounts Payable Association have shown that two thirds of UK finance professionals have received duplicate invoices, with a third ending up paying them, while other studies suggest duplicate payments make up approximately 1% of all invoices paid.
Accidentally paying the same invoice twice may not be a huge issue if it is an isolated event, but if it is a common occurrence over many years, it could cost businesses hundreds of thousands of pounds, which is still recoverable.
At a time when the financial impacts of Covid-19 have made all businesses review their expenditure, duplicated payments are not a mistake they can afford to make. Action needs to be taken sooner rather than later, or companies risk continuing to make costly overpayments.
How do duplicated payments happen?
Companies use trusted suppliers, but duplicated payments continue to be made leading to loss of revenue. So why are you receiving duplicate invoices and then paying suppliers twice?
Here are the top 5 reasons
How Can Money Collectors Help?
Duplicate Payment Recovery Service
At a time when organisations all have challenges of time and staffing to address this issue today, we can deliver much needed cash back into the business, by delivering this review for you.
Our Duplicate Payment Recovery Service, identifies duplicate invoices that have been submitted for payment using risk scoring software to identify the highest risk items, enabling finance teams to commence recovery of duplicated payments that they potentially did not even know were lost. This on average can equate to between £150,000 and £250,000 for a £10m annual spend over 5 years. This also ensures an accurate ledger position and improved cash flow for our clients.
Many companies do not automatically refund the duplicate payments until asked and your duplicate payment will not show on your statement or ledger as they move your overpayments to a suspense account.
Built using innovative technology, the Duplicate Payment Recovery Service utilises a standard workflow with appropriate checks and balances to ensure that each potential duplication is validated, recorded, and actioned appropriately. We carry this out for companies remotely on a completely no recovery no fee basis.
Call to action: Telephone 01544 294224 or e mail firstname.lastname@example.org
We will look at your debts and suggest a best no collection no fee solution
Call us now 01544 294224
Why use a professional debt collection agency?
Reputable collection agencies have professional staff and know how to handle cases. Thanks to our many years of experience, we know how to start discussions and how to encourage the debtor to pay.
The results we achieve do not come from nowhere. We have a passion for debt collection and we radiate it. This results in a good and efficient collection process.
Speed & time saving
By being informed, and staying informed, we know what our rights and obligations are within the collection process and we know how to increase the pressure. In addition, the money is credited to your account within 1 (working) day after it is received by us.
Managing debtors often costs a lot of time and money. By outsourcing it to Money Collectors, you are assured of a good and clear accounts receivable policy and you can spend your precious time on other important matters.
Money Collectors stands for quality. By using the latest technologies, we know how to get your outstanding claims paid. By continuing to innovate, we constantly come up with new methods and solutions.
At Money Collectors we advise you not to let the invoice lie. It is important to act as soon as possible. An invoice that is paid too late will otherwise cost you money, and that would be a shame. That is why we recommend a maximum of 45 days past due. If you have still not succeeded, it is important that Money Collectors comes into play.
Call us now to learn the truth 01544 294224
As a commission only service we are driven by results and this incentivises us to succeed
Malcolm Tullett Director Risk and Safety Plus Limited
If there was anyone I’d use to get me paid, it’s Mike. Absolutely the stand-out expert in this field. And a very loveable character to boot
Emma Boardman Communications Director
Mike has chaired and run a Business Focus Group, that I have been a member of for some time. He is always quick to offer advice and his support to any venture opportunity. He provides sound reasoning when it comes to business problems and always contributes to business discussions. Mike is a personable, larger than life character who excels in building his networks.
Steve Bradbury Owner Contemporary Art
Mike is a hard-working individual who strives to make hard work a pleasure for all concerned. He also has an extensive and varied network which he is keen to share.
David Edelman Director Three C’s Limited
Mike is a straightforward and very professional businessman. He is even better as a networker, meeting him over dinner added him to my shortlist of 'Excellent UK connections'.
Geert Conard Director IT Consult Services Belgium
"I'm so sorry for the delay" and "I'm really sorry. Can we pay by card immediately?" This is what two clients were saying to us with hours of our passing their debts to Money Collectors. Mike sent the letters out at 7am and by lunchtime both had paid in full including all collection costs and interest.
We strongly recommend Money Collectors to anyone serious about getting paid in full
Brian Larholm Managing Director IT Zero Limited
Call us now 01544 294224
Mike Segall Founder Money Collectors
Mike Segall FCICM the Founder of Money Collectors has almost 40 years experience in debt and credit collection. He is a Fellow of the Chartered Institute of Credit Management and has assembled a talented team of professionals to work with him and you. We cover the UK, Europe and the Rest of The World through a network of associated agencies. We will give you free advice on any debt or credit issues and help you find the best solution.