ThriveCFO is proud to announce that they are the first SA Based Accounting Firm that launches its very own, fully integrated debt management and collection service – Ultradebt (Pty) Ltd
Having spent the last 6+ years in the corporate world and implementing different debt collecting methods & processes for these organizations, it was evident that there was a big void for similar services in the SME space.
“By implementing different debt collecting methods in a corporate environment, it only made sense to adopt the same methods for our clients in ThriveCFO, as cash-flow is the most important part of every business, big or small.”
Managing Director – Ultradebt (Pty) Ltd
The Missing Link
Spending loads of time with their clients each month, forecasting and managing cash flow, the ThriveCFO team always had the sense that there was a missing link in order to really take their service full circle. Turns out that clients valued the transparency with which they help their clients forecast and plan for cash in advance, but if the customers never ended up paying, this was only an academic exercise.
Already having access to real-time data in the accounting software – the ThriveCFO team swears by Xero – they were perfectly poised to close the loop on the debtor’s management process, all the way from invoicing to collection.
Proactive vs Reactive
The ThriveCFO team has always considered themselves prudent in ensuring all their clients have a sufficiently proactive view of their cash requirements, well in advance. They now have the opportunity to also assist their clients in dealing with the reactive, cash collection process. Having immediate access to the accounts results in slow payers being identified well in advance and monitored, till they have settled their accounts. In the event that payments default, the Thrive team can immediately kick off the necessary collection procedures.
With the policy of no successful collection, no fee, clients are afforded to steer clear of any upfront legal or consulting fees. The team at ThriveCFO are well connected to their peers and regularly assists clients from other accounting firms. So it really does seem like they have a no-brainer here.
To find out more or to schedule a consultation, simply visit their website https://www.ultradebt.co.za