Proven working capital management in action
itsettled engages directly with businesses at any stage of their life cycle who need help. We work with mid-market and larger UK businesses — typically £10m plus, although we’re happy to talk to any business with a ledger in excess of £500k.
A selection of case studies
DSO was reduced from 100 to 62 days
£1,558,000 debt reduction
Case Study: Recruitment Sector
Credebt were asked by the Bank’s Invoice Finance Division to help a Recruitment business and engage directly with the business to get things back on track.
On a £45m turnover for the group they had an £8m ledger and £5.5m funds in use.
The 90-day plus column was over £2.2m and the DSO had drifted up to 100 days.
Following our initial visit and review, the business did not immediate engage with us. The business was under-staffed regarding Credit and Collections, and the resource they did have was poor and underperforming.
After a significant Bad Debt and staff changes (which we had advised were necessary), the business realised they required help and we were engaged to provide that help.
DSO was reduced from 100 to 64 days
99% recovered in 12 weeks
Case Study: Manufacturing Sector
Credebt were asked by the potential Funder to help the business achieve funding as they had failed 2 new business surveys 6 months apart.
The 90-day-plus column was over £1.2 million, the total overdue debt was over £2 million, and the DSO had drifted up to over 100 days.
Following our initial visit and review the business engaged us to turnaround the ledger profile and get them funding ready.
The business was under-staffed regarding Credit and Collections and the resource they did have was not managed effectively, leaving them demotivated and not achieving the results required.
The business had more than 15,000 outstanding invoices and many queries that needed addressing, some going back several years.
DSO was reduced from 120+ to 68 days
£2,800,000 debt reduction
Case Study: Healthcare Recruitment
Credebt were asked by the potential new Funder to improve the ledger profile and support Credit Sanctioning of the deal.
Their 120-day-plus column was over £1.5 million, the total overdue debt was over £3.3 million and the DSO had drifted up to over 105 days.
Following our initial visit and review the business engaged us to turnaround the ledger profile and get them ready for their new Funder.
The business was under-staffed regarding Credit and Collections and needed short-term Collections assistance whilst recruitment took place to make us redundant asap.
The business had more than 7,000 outstanding invoices and many queries that needed addressing, some going back several years.
Need help with recruitment? We save you money on recruitment consultants by:
• Sourcing relevant candidates on LinkedIn.
• Salary benchmarking and advising on salaries and bonus targets.
• Assisting with job descriptions.
• Helping with job specifications and adverts.
• Interviewing candidates.