Commercial Debt Recovery that puts the buyer-supplier relationship first
Ko-bolt specialises in getting our clients, suppliers, paid quickly whilst preserving relationships with their customer, the buyer. The process is firm, but fair. We aim to immediately open up a dialogue with the buyer across a variety of media to give them the tools they need to talk to us.
We then work with the buyer to expedite payment by offering expert advice and support on improving their cash flow so that they can pay quickly and the buyer-supplier relationship can be maintained. We like to think of it as debt resolution.
Our debt resolution service has no joining fee, annual fee or placement fees. What’s more, as per the Late Payment of Commercial Debts Regulations 2013, collection costs and interest are payable by the buyer. We add our costs to the account and when we collect them, there’s no cost to you. Any interest we recover is 100% yours.
Our service is always offered on a ‘no collection, no commission’ basis, so if you don’t get paid, neither do we – sound fair?
What is the true cost of bad debt to your business?
The average profit margin in the UK is 10% according to the office for national statistics. This means that a loss of £10,000 would result in you having to do £100,000 in additional turnover in order to offset the loss. For the average SME, this figure is simply unattainable.
Using the sliders in our bad debt calculator, you can see how much additional turnover is required to offset your bad debt.
Ko-bolt’s debt resolution service can help you to avoid bad debt while maintaining the buyer-supplier relationship. Get in touch with the team today to find out more.