WHAT STARTED IT
At my time at Deloitte & Touche with enterprise clients, the idea of bad debt seemed like bad karma. Of a promise made but not kept, of a word given but not honored.
After Accounts Receivable actions, or even collectors if one stoops that low, how does Finance tolerate tens of millions of dollars building up over three, four or five years in the bottom draw? How could this possibly be justified to the Board and what actions could be taken to to try remedy the inertia to righting the bad debt wrong.
And so Project Bad Debt was created that we run for you.
+ % Lowered Provision Reserve
x PE Multiple
Options to remedy
No cost, a shared upside model
No heavy lifting, our team executes for you
No impact on your existing business process
1. Identify the past 5 years charged off bad debt that is no longer being worked on (minimum $30 million required);
2. Edit or Approve our automated outreach and escalation messaging, settlement discounts and suggested payment plans;
3. We take it from there using our inhouse proprietary First Party overdue bad debt platform to communicate via texts and emails to negotiate options and find solutions to getting you paid and the client's financial fitness back on track.
THERE IS NO PROJECT COST.
AND YOU KEEP THE MAJORITY OF THE RECOVERY.
We fund the project & communication costs and you get to keep the majority of the recovery plus the value that is created.
Its a shared upside costing model.
NO IMPACT ON BACK OFFICE
Nothing to implement or effect your existing back office or process. Project Bad Debt is a defined stand alone 5 week project that we run with your oversight for intelligent First Party receivables using our proprietary automated platform.
Various options from settlement discounts, a counter offer methodology to incrementing stepped payment plans creates the space and options needed for them to solve the situation and get back to financial fitness.