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arswa

Accounts Receivable Solutions

We are experts in receivables management especially for small to medium sized businesses selling on credit business to business (B2B). Accounts Receivable Solutions also provides a comprehensive, hands-on Training Book for Receivables staff.  So either:

OUTSOURCE YOUR CREDIT CONTROL AND GET PAID PAINLESSLY

or

TRAIN YOUR CREDIT STAFF FOR EFFECTIVE AND EFFICIENT RESULTS

 

Find out how you can instantly improve your cash position without losing the confidence of your customers by linking to the following pages:

Let us:

  • Free up your time to grow the business
  • Increase your profits
  • Lower your costs
  • Improve your cash flow
  • Maintain and improve customer relations
  • Reduce your debtors and your debt to the bank

How?

  • Outsource the credit function to an Australian operator
  • We act like a member of your staff without being on the payroll
  • With no long term contractual obligations
  • Or if you have an in-house credit department, take advantage of our Credit Control Training to provide your staff with specialist training with proven methods and results

 

Get In Touch with Adrian Stead Now:

Email:  adrian@arswa.com.au

Use the Contact Form by clicking here

Phone: 0427 881 818

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Our Services

 

Geared towards SMEs selling on credit to other businesses and from as little as $70 per week, you will benefit immediately from having an experienced, WA outsource team looking after your interests.  We use assertive but non-aggressive methods with your customers and will not besmirch your good name or relations.We will communicate with you regularly to ensure you receive quality reports and that we receive up to date instructions from you.

And don’t forget, if you are not satisfied with our performance you may simply fire us at anytime.  The services which we provide are:

  • Credit Control
  • Credit Checking
  • Terms of Trade/PPSA
  • Account Opening Forms
  • Training
  • Club and Subscription Management

Credit Control 

Our most popular service delivering structured control of your receivables book. Customers are unaware that an external credit management specialist has been employed and we will do all of it away from your premises (unless you prefer otherwise).

We contact all your overdue debtors to encourage payment, ascertain any concerns which your customer may have and of which you are not aware, and arrange monies to go directly to you (not to us) promptly. All we need to know from you is that you have received the payment.

Slow payers are followed up regularly and our subtle techniques persuade them to mend their ways without you losing their business.

Our Credit Control saves you time, money and aggravation.

 

Terms of Trade/PPSA

  • We will assess your existing Terms of Trade
  • Compile new Terms which incorporate the PPSA requirements – written by an experienced legal practitioner
  • Explain to you in simple, easy to understand terms
  • Explain how the PPSA affects you
  • Provide training to your staff on how the PPSA works
  • Assist you in registering sales on the PPSR

 

Debtors Health Check

We conduct a thorough assessment of your existing debtor management practices. We pinpoint weaknesses in systems, poor collections performance or inadequate approval processes and recommend appropriate action.

You choose how you wish to proceed and we can either assist you to improve your processes or take on some – or even all – areas for you. We work with your staff to make their lives easier and improve your systems.

You can’t fix what you don’t know. Lets Accounts Receivable Solutions help you get back on track.

 

Credit Checking

We vet the worthiness of businesses wanting to purchase from you on credit terms. Checks are vital before new accounts are opened and also for existing customers looking to increase the volume of credit business with you. Checks can either be of an informal telephone nature or formal written requests.

Our credit checking is for B2B transactions only. It is not for checking individuals.

 

Account Opening Forms

 

 

Account opening forms contain the vital information you need to determine the amount of credit you may wish to grant and to obtain payment afterwards. Without them bad debt risk is high.

Accounts Receivable Solutions will sell the form to you for a one-off fee which includes a FREE licence to allow you to copy the forms for your future use without fear of breaching any copyright laws.

 

Club & Subscription Management

 

 

We are one of the few businesses that offer this service to small clubs, trade or business associations. Some businesses sell software packages but this involves time-consuming set up and new program learning. Associations are often not for profit and may rely on volunteers who have little time and no experience in collecting overdue payments. Accounts Receivable Solutions provide an alternative and can manage your subscriptions for you.

 

Credit Control Training

Professional training in credit control is vital to ensure that staff engaged in the administration of your policies and procedures are skilled, knowledgeable and confident in carrying out the tasks.

Read more about Credit Control Training

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About

Accounts Receivable Solutions 

Founded in Melbourne in 2002 and in New Zealand in 1998 to help small to medium sized enterprises (SMEs) get paid without stress and without upsetting customers.

Our local outsource debtor management service means we act like a member of your staff without being on your payroll – and this can be from as little as $70 per week. So apart from paying you sooner, your customers are usually unaware of our involvement and all monies go directly to you. We don’t do factoring, just stop your need for it!

Our systems were developed from UK and US models and are uniquely customised for Australia. We have accounts software to service you effectively, improve efficiencies and lower your costs. As you know, getting paid and maintaining sound customer relations is not easy so see our services to find out how you can get paid painlessly.

Adrian Stead
B.Bus (Econ), B.A., Grad.Dip.Ed

Adrian is the Managing Director of Accounts Receivable Solutions (ARS) in Western Australia. For twelve years prior to establishing ARS in Perth he was Commercial Manager for a manufacturing company based in WA. Amongst the duties of his senior role was the management of the accounts receivable function and that experience has benefitted many clients of ARS.

Adrian also has extensive senior management experience in the banking and finance sectors in both Australia and UK. He is also a qualified teacher.

He is the author of eBooks:  ‘Success With Accounts Receivable’ and ‘The Personal Property Securities Act In Simple Terms’.

 

Robin Rainbow
F.F.A (UK), B.Sc (B.Admin)

Robin is the founder of ARS. He has extensive business experience on four continents as a corporate CEO and as a UN Development Programme business and industrial development consultant.

His career has involved him in journalism and as an accountant before he moved into commerce as a financial controller, finance director and then CEO.
He also has extensive business, restructuring and trade development experience.

Robin is author of ‘Get Paid Painlessly’, a B2B credit control book, whilst further publications, ‘Get Paid’ and ‘Start Your Own Business’ go to print in 2010.

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Your Franchise-like Business

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You Have Just Taken The First Step …

… to owning one of the best value-for-money, legitimate, businesses in the World.

Take command of your future by owning your own work-from-home business with Accounts Receivable Solutions.

We enable you to provide a range of outsource debtor management services, and credit control, to small to mid-sized businesses who cannot justify in-house staff.  You help them to get paid without stress or upsetting customers.  We also compile Terms & Conditions of Trade and you receive a good commission to help you quickly recover your modest investment.

We provide you with outsource debtor management and credit control systems similar to those used by large corporations to help smaller businesses get paid.  No debt collecting is involved.  Our systems have been developed from over 15 years B2B debtor management and practical commercial experience.

Prospects for Outsource Debtor Management are good in nearly all economic climates.  They are especially good when business confidence is low and cash flows are tight.  This is when Australia’s 600,000 businesses selling to other businesses (B2B) need to get paid on time.   Over 75% of these are small and cannot justify in-house debtor management staff and this is not confined solely to Australia.  All major economic countries face the same dilemma.  You help fix this crucial problem and earn a professional-level income.

 

When buying a franchise-like business from us you totally own it.

Forever.

I’ll repeat that so you are absolutely sure:  When buying a franchise business from us you totally own it.  Forever.

Generally, if you buy a franchise it comes with an expiry date, so all you are doing is renting!  With an Accounts Receivable Solutions business you can start right away – or when ready – with our easy to follow manuals and client finding methods.  Training, if required, is one-to-one via Skype, phone and email and an initial one-to-one get started meeting is available, regardless of where you are in the World!   (Available to those paying for the business fully at the outset).

And, of course, as it’s your business you are free to sell it if and whenever you wish – no commitment or financial responsibility to a franchisor.

The business provides you with the following systems and these are available for you to use either in their entirety or you can elect to undertake just some of them.  Your choice:

1.  Outsource Credit Control is the ‘bread and butter’ of your business and is the art of persuading customers of your clients to pay without upsets.  Using our methods it is surprisingly easy and enjoyable (really it is!).  These are non-aggressive yet effective and, again, no debt collecting is involved as we simply don’t do debt collecting.  No money ever comes to you from paying customers, it goes directly to your clients.  Debtor management is a field requiring trained people and sound systems.  If a business lacks them, getting paid is stressful, time consuming or ineffective.  This is where you come in, to solve those problems.

2.  Terms & Conditions of Trade.  Our legal-process team compiles Terms of Trade to help protect clients’ goods and other property from being seized and sold by receivers if customers become insolvent.  They are the ‘ground rules’ by which your clients and their customers conduct their activities.  They help resolve disputes, limit liability to claims, enable the client to recover all debt collection and legal costs as well as providing solutions to other risks of being in business.

3.  Diagnostic Debtors Health Checks help larger companies assess the effectiveness of their debtor management systems by comparing them to best practice. It pinpoints weaknesses and helps them to improve effectiveness. The Diagnostic can both generate fees and gain long term clients for credit control or other services. As with all our services full instructions are provided.

4.  Club and Association Subscription Management.  Outsourcing of club and association subscription management relieves hard-pressed volunteers, or staff, from work they find hard to do in the time available.. Yours could be the only business in the area that provides subscription management for clubs and trade associations. This is profitable and enjoyable work that fits in with your other Accounts Receivable Solutions services.

5.  Account Opening Forms. Supplying Credit Application Forms can be surprisingly profitable by selling them to non-clients or using them for promotions. They help clients avoid bad debts and make credit control easier.  They generate income and provide a gateway to introduce other services and a database of potential future clients.

6.  Credit Checks vet the credit worthiness (or lack of it) of businesses requesting credit from other businesses. They are vital before new accounts are opened and for existing customers if purchases are large, or when they fall into arrears. Our credit checks are for B2B transactions rather than for individual.

7.  Invoice Scribe is an Outsource Invoicing Solution for smaller businesses who have problems with invoicing customers on time and accurately. It is ideal for those charging by time, quotation, time and travel, and other non-inventory businesses.  Late invoicing can also be a problem for small professional firms.  Late invoicing means late payment and Invoice Scribe helps fix it and is usually combined with credit control.

8.  Peace of Mind – a total debtor solution for tight run businesses or those lacking administration support, such as small firms and trades people. Peace of Mind frees clients from back-office tasks. and comprises:

  • Invoicing
  • Receipt Posting
  • Aged Debtors Reporting
  • Statements Issuing
  • Credit Control

With Peace of Mind, a client’s invoicing is accurate, up to date and customers pay on time.

9.  Credit Policy Reviews are currently being developed and will be a valuable service to larger companies. This ‘system’ is best suited to purchasers of Accounts Receivable Solutions businesses who have accountancy, business banking or similar experience. We can of course train you in the use of these reviews.

10. Personal Property Securities Act (PPSA) Registration Service.  (For Australian franchises).  We have a referral arrangement with a professional firm who specialize in Personal Properties Security Register (PPSR) lodgments for which you receive a commission. Businesses that do not have their goods, other property and money owed by debtors secured on the PPSR can lose the lot if a customer goes broke.

The Next Step …

For your investment you receive:

  1. A ‘Get Going’ Package
    • Sent to you immediately upon payment, which includes three Operating Manuals (business setup, system details, sales and marketing),  the Credit Control ‘How to’ Desktop Guide packed with informative material and a ‘Hands-on’ Skills Training book.  Plus a USB with operating and promotional materials.
  2. Access to Training 
    • The extent of training (if required) and the fee to be charged will be dependent upon your background and knowledge. A quotation will be provided based on your needs and the training is normally undertaken by Skype, email and phone after you have read the manuals.   Ongoing support is provided to help you run and expand your business, year after year..
  3. Terms and Conditions of Trade
    • It is surprising how many businesses have inadequate Terms of Trade. Some even have no Terms of Trade at all!  Sales of Terms of Trade can reap you good income so that you recoup your investment in a short period of time. Referrals of clients can earn you over $500 for each client that acquires our documentation.
  4. Client Training
    • Are you an educator? Do you know how to present training packages? Want to learn?  There are opportunities for you to provide training to those Companies that have their own Receivables staff and need for them to be more efficient.  Accounts Receivable Solutions provides such training and you can be part of that also.

So …

Take command of your career and future by owning an Accounts Receivable Solutions business. 

Contact Adrian Stead via the Contact Page on this website.  Or see more by clicking here.

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Terms of Trade

and

The Personal Property Securities Act

The Personal Property Securities Act 2009 (PPSA) came into full effect on 1 February 2014.  Now, all businesses that supply goods to their customers or distributors, on the basis that they retain title until payment is made, are at risk if they do not appropriately register their sales on the Personal Property Securities Register (PPSR).

The PPSA replaces over 70 pieces of regionalised law in relation to “security interests” in “personal property”. Personal property is not just consumer property; it is all forms of property other than land and certain statutory licences. Commercial equipment and stock are common examples of personal property.

Businesses that do not have possession of their personal property (e.g. stock and equipment supplied or hired to customers) must:

  • Have a security agreement in place that satisfies the requirements of the PPSA; and
  • Register their security interest on the PPS Register.

Businesses that do not take these and other steps may not have the ability to seize or otherwise deal with their personal property upon a debtor’s default.

Your business will be affected by the PPSA.

The PPSA will affect a variety of industries, including:

  • Manufacturers, distributors and suppliers that supply goods;
  • Accountants, insolvency practitioners and business advisers;
  • Transport and logistics companies that provide transport or warehouse services and freight forwarders and carriers;
  • Leasing companies that lease vehicles, equipment or other goods; and
  • Factoring businesses.

The PPSA requires some very significant changes to the way your business operates and it is important that you are ready and understand how the PPSA may affect your business.

To provide you with an example of the operation of the PPSA, if a manufacturer were to supply goods to a business under usual 30 day trading terms and that business were to later become insolvent, the manufacturer’s security interest would become void. This applies even though the manufacturer may have title (i.e. ownership) in the goods.

Your Terms of Trade

As a business owner you need to ask yourself:

  • Are my Terms and Conditions of Trade up to date?
  • Do they incorporate adequate provision for the protection afforded by PPSA?
  • Do I understand the ramifications of PPSA and how I could be adversely affected?

If the answer to any of these questions is “No”, then Accounts Receivable Solutions can help you.  We will:

  • Assess your existing Terms of Trade;
  • Compile new Terms which incorporate the PPSA requirements – written by an experienced legal practitioner;
  • Explain to you in simple, easy to understand terms how the PPSA affects you;
  • Provide training to your staff on how the PPSA works;
  • Assist you in registering sales on the PPSR

You cannot afford to operate with inadequate Terms of Trade.

See our Contact Page to make further enquiries, and please view the video below.

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Please Contact Us Regarding:

Outsource Credit Control
Terms of Trade and PPSA
Training eBook
Franchise-like Business

Check box if you consent to the storage and use of your personal information? (Data is not knowingly shared with any 3rd-parties)*

Name

Accounts Receivable Solutions (WA)
Tel: 0427 881 818
Email: adrian@arswa.com.au

 

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Credit Risks

Credit Risks Covered

Most businesses need to sell at least some goods or services on credit. The risk of a bad debt begins immediately your goods are delivered or your professional services are provided to your customer. Good credit control and sound debtor management are vital to reduce bad debt risk. The risk of loss increases rapidly with time…

Bad debtors are rarely classed as criminals but they have the same effect. For every $5,000 lost through bad debts, most businesses have to increase their sales by $30,000 to $50,000 just to recover that loss.Lack of effective credit control substantially increases the risk of not being paid and costs you money every day that accounts are allowed to continue unpaid.

The Risk of Bad Debt

At 60 days (about the Australian payment time). Risk = 15%
At 90 days risk of losing your money is around 25%
After 180 days the chance of you never getting paid exceeds 50%
After that, the prospects of seeing your money are slim and get worse with every passing week.

Do you have specific and effective credit management processes?

  • Do you issue invoices and statements on time?
  • Is someone in your business responsible for following up overdue accounts?
  • Are the right people talking to your customers about unpaid accounts?

If you answer “No” to any of these questions then you need to consider outsourcing your accounts receivable

What about Factoring?

The selling of your debtor ledger to a financial organisation will certainly get you paid but at a much lesser rate than the face value of the invoices outstanding. You may have to sign over all future invoices too so that you may not receive the full worth for your products or services.

Before you even consider factoring your debts you should be looking at a sound credit management system such as offered by Accounts Receivable Solutions. After all you’ve performed your service or sold the product at a given price, surely you deserve to receive the full amount rightfully owing to you.

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Outsourcing Your Receivables

When we speak of outsourcing many people immediately think “India” or “Philippines” and are put off straight away.  Nothing wrong with those places of course but not everyone’s preference when dealing with an Accounts issue unless you live in those countries.  Local outsourcing has however been a business tool for over a century and continues to be attractive to forward thinking businesses.

So right from the outset let’s get one thing straight: 

Early forms of outsourcing were staff recruitment and insurance broking.  Employment agencies, brokers, advertising agencies and market research firms are so well established they are no longer even regarded as outsource providers, yet, simply, they are just that.

Administration outsourcing is growing too.  Activities such as payroll which is used by 54% of US firms and by an estimated 25% of Australian businesses is now outsourced.

Credit control began to be outsourced in USA and then spread to UK in the early nineties. It was originally factoring companies that had the lion’s share of the market.   Now smaller firms benefit from professional outsource credit control and debtor management, so if looking after debtors is too hard for your Company – maybe not having the staff or the time – then you should seriously look at outsourcing it.

At the 2001 Outsourcing World Summit, the top three reasons for outsourcing work were:

  1.  To allow businesses to concentrate on their core business – 36%
  2.  To reduce costs – 36%
  3.  To improve the quality of the work outsourced – 13%

Why You Should Outsource

Outsourcing is ideal for tightly run, short staffed businesses and can be cheaper than managing debtors in-house. Good outsourcers act like staff, yet without being on the payroll. Apart from paying you sooner, your debtors would not even know an outsource specialist is involved because everything can be done in your name.  At Accounts Receivable Solutions we announce ourselves as the Credit Controller for [Your Company] and have an electronic signature for Your Company which are used on emails.

And importantly at Accounts Receivable Solutions we don’t have debtor payments coming to us.  It all goes directly to you.

If you are a small businesses or professional firm, debtor management outsourcing can put you at the top of payment queues, which means getting paid before others, rather than getting paid late – often after all the rest. But getting paid promptly is today essential and is likely to remain so for a long time, so businesses are looking closely at outsourcing their credit control.

There are of course alternatives for businesses that are short-staffed, such as asking spouses or friends to do credit control. But this is not a good idea as they will be far less experienced and effective as a full-time Receivables specialist.  Plus the fact that many find the task of asking for money stressful.  So should inexperienced staff who probably dislike doing it be forced to do so?

Being so ‘raw’ at the job means they will take longer to perform the task on a regular basis and their time is probably costlier to you than the actual charge-out rate to an outsource company.  By using their time to grow your business instead of asking for customers for money they are ridding themselves of a non-earning task.

Whatever course of action you decide upon you should never go easy on asking customers to pay. Looking after debtors is of vital importance because doing so can go as long way to saving a business from going broke.