Prompt Payment Solution (PPS)

LRC offer a unique fixed cost Prompt Payment Solution (PPS), that serves as a friendly reminder to your customer that their invoice is shortly (or currently) due for payment. Although not suitable for every type of customer, where you have accounts that repeatedly pay late, this service has proven to be just as effective as sending an LBA.

Again, it’s not for every customer, but it does provide a professional and courteous way of making sure invoices or bills are paid on time. Coming from a third party, we often find this reminder is not as easily ‘ignored’ as ones sent by yourself and sending out the message that your company are stringent on the paying of invoices (in accordance with your standard terms and conditions) is one way of making sure all future payments arrive on time.

You can choose to send a standard letter, or tailor each to your specific customers needs; and we can schedule letters to arrive on a number of given days before invoices are due (else on or after).

Are you aware of Reputational Risk?

Are you taking all appropriate steps to avoid your company gaining a reputation of being slow at chasing outstanding accounts. This can lead to an increase in debtor days. Others may capitalise upon this by also using your services with the intent of paying late or not paying at all. Our Prompt Payment Solution was partially devised to help combat the growth of reputational risk, especially within credit card, finance and education sectors.

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Collect your invoice payments on-time or reduce the delay
Reduce the amount of slow paying customers
Eliminate Reputational Risk
Low fixed costs
Tailored to your specific customers requirements