Businesses can now track and chase late paying customers with ease – thanks to an innovative computer program from a Wiltshire software engineer.
Managed Follow Up automates the invoice-chasing procedure, saving large and small companies vital man hours and helping to tackle the estimated £15.7bn of late payments owed to UK SMEs.
It also provides an impartial evidence base of invoice reminders, should the non-payer ever be pursued through the courts.
The program is the brainchild of 34-year-old IT consultant Paul Harding, who was inspired to develop Managed Follow Up after seeing how even the largest companies were using spreadsheet-based software to chase invoices.
Paul said: “Spreadsheet-based systems are time consuming and it is easy for mistakes to be input or events to be overlooked.
“Managed Follow Up automates the process. The business simply enters the customer’s details, payment due date and the amount owed. Managed Follow Up then enters a dialogue with the customer, either online or by letter.
“The customer can respond at any time with a promise to pay or reason for non-payment, and responses are logged and replied to after an appropriate time.
“Because the process is automated, the log can prove customers were sent reminders, or disprove harassment claims, should the non-payment be pursued through the county court.”
Managed Follow Up has been designed to integrate with company software, as well as popular accountancy packages like Xero.
And small businesses can even use the service free of charge, by logging onto the website and selecting the email communication option.
Paul said: “It’s so simple, I’m surprised no-one has come up with it before.
“For a fee as little as £2.50 a business can engage with individuals or companies who have failed to pay them on time on a per correspondence basis, or from £6.50 for a full case that can Auto Follow Up.
“All correspondence is time stamped to protect the client from accusations of inventing invoices or harassment. We have also introduced unlimited email correspondence from just £10 a month.”
“At the end of the process, if a client has still not been paid they can contact a debt collection agency or pursue the matter through the county court, by logging on to www.moneyclaim.gov.uk”
To register a late payment with Managed Follow Up, log on to www.managedfollowup.co.uk For sales enquiries email email@example.com, call 020 3287 2586 or Skype managedfollowup
* Figures released last year by the Royal Bank of Scotland suggested that late payment effected nearly three quarters of SMEs, with invoices worth £15.7bn more than 120 days in arrears.