The Late Payment Assassin's Blog

Accelerating your cash flow

Exporter Case Study - Credit Control In Latin America

Wednesday, 26 October 2016 21:04 by The Late Payment Assassin

Client Sector: Tech/Digital

Latin American Trading History: Our client provides connectivity and digital access in emerging markets across Latin America.

Business issue: As the majority of their business is within emerging markets, our client was struggling to manage the increasing levels of business. Invoices were falling overdue and without any in-house language skills they were unable to communicate effectively with clients particularly in Spanish speaking countries.

Solution: Outsourcing of Latin American (+ African and Middle Eastern) credit control to Octempo. Multi-lingual solutions, across time zones. 

Results:   Successful multi-lingual credit control continues to improve our client’s cash flow and minimise the value of any overdue invoices. It has also ensured our client has not had to write off any debts since we started working with them.

Hola America Latina!

Wednesday, 26 October 2016 20:48 by The Late Payment Assassin

With a market of 0.5bn people, Latin America presents a huge opportunity for UK exporters. Only 1.4% of British exports go to the region, leaving us lagging behind our US and German counterparts. There are some tempting reasons to re-consider Latin America:

• Brazil is the 5th largest country in the world and the 6th largest economy.

• Colombia is ranked as the 34th easiest country to do business.

• Analysts predict that Mexico’s economy will be the world’s 5th largest by 2050 (15th in 2015).

Although an attractive proposition, there are still language and cultural barriers to contend with. Octempo have been providing client branded outsourced Latin American language skills and credit control support for almost 10 years. We understand what it takes to build customer relationships and ensure you get paid on time, and our services enhance your customer relationships and efficiently convert your invoices into cash.

You can find more advice on how to break into the Latin American market visit guide to doing business in the region.

If you need help with anything from Argentinian Credit Control to collecting Brazilian Debts, contact Octempo today

Global Debt Has Risen To An All-Time High

Friday, 21 October 2016 15:17 by Shane P

Following a recent conference, the International Monetary Fund has warned that the world is currently struggling under an enormous amount of debt- somewhere in the region of $152 trillion. This worldwide debt is the result of businesses and countries continuing to borrow, and it is possible that such a large amount could trigger a global economic crisis.

The enormous figure of $152 trillion equates to 225% of the current world GDP, and this debt figure has never been so high, bringing into sharp focus just how far behind economic growth has been when compared to the extent of borrowing in recent years.

Such unprecedented levels of debt are so high due to the lack of economic growth over the past ten years, according to the IMF. The world now finds itself in a worse position that it was back before the 2008-2009 economic crisis, and so we may be on the brink of a devastating global recession.

The IMF has called on governments around the world to quickly take action to rectify this situation and to prevent the economic crisis of ten years ago repeating itself. They have also stated that the private sector is responsible for two-thirds of the outstanding debt, and have highlighted the importance of fiscal actors in building a more stable environment.

Europe have been singled out as having an impaired banking system, whilst the rapid growth of China’s private sector is also proving to have a detrimental impact on the debt. As for the UK, they have reduced any private sector debts but government debts have then rise- and this is the same case in the United States.

If you’re looking to outsource your international debt recovery in such uncertain times, then please contact our dedicated Octempo team for more information on the services that we provide!


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Why You Should Outsource Your Credit Control

Monday, 17 October 2016 10:06 by Shane P

At Octempo, we are the experts when it comes to international credit control and debt recovery, and have spent over 10 years assisting exporters with optimising their cash flow. We pride ourselves on the effectiveness of our customer relationships, and feel that this is key in delivering a professional, reliable service.

Our international debt recovery and credit control services are second to none, and we utilise our excellent customer service skills to provide efficient results. The multi-lingual team we have at our disposal ensures that we have no issues establishing concrete relationships with overseas corporations, as well as improving the dependability of payments.

Effective international credit control requires an expert approach in order to achieve speedy results, and this means that it can be difficult to keep it in-house. No matter how large or small your business is, there are a range of benefits that go hand-in-hand with outsourcing your credit control, and we’re here at Octempo to run you through some of the main ones:

·        As previously mentioned, credit control requires expert attention due to how complex the field is. This means that outsourcing your credit control to a qualified company, such as Octempo, will ultimately improve the quality of the service that you are providing. With professionals on the case, your credit control process will become much more efficient and reliable.

·        Choosing to outsource will also save you a lot of money, as it will improve your cash cycle and also means that you won’t have to fork out for any new members of staff. Keeping your credit control in-house obviously means that you will have to pay someone a salary to do it for you, and it is much wiser to save some money by outsourcing.

·        If you don’t have to worry about your credit control anymore, then this means that you’ll suddenly have a lot more time on your hands. Choosing to outsource will mean that you save a lot of time on trying to get to grips with your credit control, as well as preventing you from having to train any members of staff- which could have a detrimental effect on your business.

·        Outsourcing your credit control means that you won’t have any extra personnel issues to manage, meaning that you can now use this extra time more productively in other areas of your business.

At Octempo, we are the experts in international credit control, so please don’t hesitate to contact our dedicated team for any further information on the services that we provide.


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