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Case Study : Mixam UK Ltd

"Within the first month of service TAK's credit control and debt recovery service had recovered debts which we had assumed would have to be written off. Their professionalism and dedication means that we can concentrate on growing the business knowing that TAK will ensure our invoices are paid promptly whilst maintaining a healthy relationship with them."

Mixam UK Limited began trading in September 2007. They provide a specialist printing service producing brochures, magazines, posters and flyers using the latest methods of production available. After a year of successful growth it became apparent to the Directors that their on growth had meant that other business processes had been neglected. In particular the sales ledger was not getting the attention it required, resulting in a high level of unpaid invoices. Some of these dated back nearly a year. In September 2008, having tried several alternate approaches, the Directors of Mixam decided to seek the services of a specialist collection agency. It was important for Mixam to find a service provider who could make a sustainable improvement to the aging debt position. To achieve this the chosen provider would need the ability to work as part of the team on an ongoing basis to ensure prompt payment whilst enhancing and maintaining a healthy customer relationship. After a thorough investigation of suppliers Mixam chose to work with TAK-Outsourcing based on the company's ability to match the present requirements, ability to scale for future growth and excellent references.

Solution

TAK-Outsourcing worked closely with Mixam to develop a credit control service which would reduce the administrative work carried out by Mixam staff to a minimum, retain and improve communication and relations with Mixam customers, and reduce outstanding debt and invoice queries. As part of the standard service TAK assigned a named, experienced credit control manager to Mixam enabling the development of a close working relationship both between TAK and Mixam, and TAK and Mixam clients. Initially a "catch-up" project was carried out to reduce aging debt as soon as possible, transitioning to a regular credit control service. TAK-Outsourcing worked as an extension to the Mixam business using Mixam's e-conomic online financials system, making and answering calls in the Mixam name and utilising Mixam email addresses. Where necessary debts were escalated to the TAK debt collection team and TAK's solicitor was used to issue request claims and judgements where necessary. Mixam gained the benefits of a large-scale professional credit control department without the related risk of direct employment and at a lower cost.

Benefits

After 3 months of service TAK-Outsourcing was able to reduce the outstanding debt by more than 60%. By operating a pro-active service a closer relationship was built with Mixam customers Accounts Payable departments meaning that queries were solved more quickly and invoices paid earlier. At the same time Mixam's confidence in the TAK service meant that they could concentrate more on core business.