At think outsource, you will benefit from our teams experience across multiple sectors and industries, supporting businesses from start up to multi-million pound organisations. At think we support our teams ambitions to gain further qualifications, accreditations and experience.
Read below how our current clients have found their experience with us…
Business dealing in contractor and permanent roles
Executive Search
- Using invoice finance to fund the business and an accountants firm to complete all other back office functions
- Came to think outsource in 2018 for outsourced credit control
- Within 3 months, the client no longer needed to borrow funds and is running constantly in credit
- Within 6 months, the client approached us to support them with a full bookkeeping service including financial reporting
Outcome of Outsourced Credit Control
International Shipment
- 200 + employees
- Ledger size of £750,000
- International chasing with different currencies working closely with client to ensure any queries dealt with quickly to avoid delays in payment
- Debtors days successfully maintained in line with terms and client expectations
- Client since 2014
Permanent Salaried Payroll
Cost Lawyers
- Intensive team training at take on with clients in house payroll software
- Meetings with key stakeholders and the wider team meant we were able to develop a great working rapport
- Engaged to complete the full payroll transaction (sign off required from client before payment is actioned).
- Think outsource were operational within 7 days accessing the software remotely.
Outsourced Credit Control
Sole Trader in the Plumbing Industry
- Owner managed business
- Ledger size £150,000
- We commence the chasing of invoices after 30 days
- Client since 2017
- After 2 years, banking was added to their services as we assisted with the evolving pace of the business
Outsourced Credit Control and Banking
UK and European Retail Sale
- 250 + employees
- Multilingual skills required – German, French, Italian, Spanish
- Ledger size in UK £2.5 million
- Ledger size in Europe €3.5 million
- Payment terms offered ranging from 7 to 90 days so flexibility required with timing of chasing outstanding invoices
- Client since 2017
- Addition of banking after 10 months of being with us due to how effective and efficient the team became
- Advisory improvements to query reporting, coupled with the managing this process. Weekly reports implemented, this assisted the directors to pro-actively manage the cash flow forecasting
Payroll
Start Up Recruitment
- Software implementation for this start up as no payroll system was in place
- Training given to our colleagues at the business for XERO
- Running weekly and monthly payroll
- Completing new starter set up, pay slips, HMRC requirements, updating of employees addresses, tax codes and rates
- Client retains the process of BACS payments to the employees
- Think outsource developed a great rapport with the temporary and permanent staff on this recruiters’ books. This made receiving timesheets and information seamless
- Contractors happy with the smooth process and opt to continue using this recruiter which generated repeat business
Credit Control
Engineering
- Company operating from 11 sites across the UK
- Group turnover of £37 million
- Issues with high levels of overdue debt and moderate levels of disputes
- Largest debtor is 60% of the ledger and had 90 day terms
- Implemented a bespoke dispute resolution reporting structure with the support of the Board
- Reduced debtor days to an average of 75 days injecting £3 million back into the company’s cashflow within the first 3 months
- Provide formal credit checking procedures
- Client since 2004
International Credit Control
Media Company
- Global media company with headquarters in Zurich with trading divisions in the Far East, US, EMEA and UAE
- Global turnover of £486 million
- Issues with language barriers leading to delays in cash collections and poor dispute resolution
- Implemented cash collection processes company wide
- Implementation of dispute ownership and resolution
- Collection of overdues using multi-lingual credit controllers in English, Spanish, Italian, French, German and Polish
- Bespoke reporting to the global management and stakeholders
Recruitment
Payroll and Credit Control
- Temporary recruiter based in South West specialising in IT Consultants and Engineers
- Annual turnover of £5.8m
- Company wanted to streamline invoicing and credit control processes to reduced overheads
- Managing the weekly contractors from compilation and checking of timesheets to preparation of payroll
- Reconciliation of self-billing invoicing
- Reconciliation of invoice finance facility (3rd party)
- Confidential credit control facility
Outcome of Outsourced Credit Control
People Management in the Construction Industry
- Turnover £500,000
- Debtors stretching terms to 90 days plus causing cashflow issues
- Intensive collections to put £000’s back into cashflow
- Think outsource brought debtors days down to consistently less than 60 days
- Client since 2008
Have a Question?
If you have a question about any of the packages we offer at Think Outsource – please don’t hesitate to get in touch with our helpful team.
Telephone: 0808 196 3730
Email: info@thinkoutsource.co.uk
Top Talent
Think you can join our team?
We are always looking for top talent within our industry. Think you have what it takes? Send in your CV and let us take a look.
Customer Feedback
WHAT OUR CLIENTS THINK
“We have always found that not only are all the people that we have dealt with been pleasant and professional but the service provided has always been of a high standard. By which I mean accounts consistently produced accurately and in timely manner. Any queries are dealt with quickly and efficiently. Credit control has always been done with gentle yet effective diplomacy and whenever we have had a change of bookkeeper it has been managed seamlessly. I have no hesitation in recommending the services.”