Driving performance improvement

We are delighted to report that we have just successfully closed out a sales ledger improvement project for one of our clients. Our work with the client has generated significant improvements, with a reduction in queries and an increase in cash flow.

CFO comment: “The VERITAS team was nothing short of wonderful in bringing calmness, process and order into an exceptionally problematic sales ledger where the significant backlog of queries was not only impacting cash collection but also severely impacting customer confidence”.

During the course of our project, we worked with our client to achieve the following:

• The recruitment of a new Credit Manager to continue to drive through the improvements we recommended
• Our team supplied virtual credit control services to the client whilst they recruited their team
• Our work resulted in a comprehensive training programme and user manuals for the credit control team
• Month end management reporting pack to include:-
  • Aged profile of the sales ledger showing the month on month performance
  • A comprehensive query report and query resolution benchmarking
  • Weekly cash forecasts

CFO comment: “The VERITAS team put in place the new processes, control structure and reporting framework that ensured the ledger quickly returned to good order whilst developing the capability of the in-house credit control team.

The VERITAS team operated through a combination of on-site and off-site support and the results were mightily impressive.”

Jenny Oldfield, CEO of Veritas Commercial Services comments: “The Directors of the business fully supported the process improvement project delivered by our team. Their support enabled us to achieve the results seen in record time. It is fantastic to see our client continue to build on the improvements we developed with them and we look forward to seeing them continue to grow successfully in the future.”