Direct Route Collections outlines the critical importance of securing debt payments during the coronavirus crisis.
With the COVID-19 pandemic still in full swing and new customers thin on the horizon, the need for builders’ merchants to ensure cashflow is flowing is more important than ever. For many of the trades they offer credit to, unpaid invoices that were due pre-pandemic will now be sitting in the overdue debt box.
But with many trades ceasing under lockdown, and some falling into financial difficulties too, securing payments is likely to prove challenging and time consuming.
This puts builders’ merchants in a tricky position. How to get debts paid without alienating a good customer…
An email chase service has been launched by Direct Route Collections, a business-to-business debt recovery specialist and a Builders Merchant Federation service member. The company says it has alrady been helping builders’ merchants with its free ‘no hidden catches’ service, which aims to help merchant firms retain their commercial customer and boost cashflow.
The entire process is automated and takes just minutes to complete. A one off, £1 registration fee – which goes straight to the NHS frontline appeal – then allows users to place as many debts as they like at any time: a few or dozens, from £100 with no upward limit.
This three-minute video explains how it works:
Speaking of the reaction from builders’ merchants to this initiative, Managing Director Michael Collins said: “With massively reduced footfall causing a significant drop in sales, builders’ merchants cannot rely on the government alone for financial assistance.
“Securing payment of debt is crucial. The good news is that the first 600 hundred email chases have resulted in 90% of the businesses using this service receiving positive responses of immediate payments, payment promises and instalment plan offers – from genuine customers that perhaps for the first time ever find themselves with an unforeseen cashflow difficulty that has been forced upon them. It was my intention when launching this service to provide easy to access and effective support with no strings attached.”
Debts can be placed immediately at www.directroute.co.uk/covid19support
If you would rather talk to a member of the team, email firstname.lastname@example.org or call 01274 223190