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Secure your cash collection

6 strategies credit professionals can implement to secure their cash collection in 2023 Credit professionals are not unused to overcoming challenges. An often-overlooked back-office function, lack of resource and investment can make delivering targets a daily battle. However, in 2023 what was already a hill has become a mountain. With economic insecurity driving an increased…

Business insolvencies hit a 13 year high

Business insolvencies hit a 13 year high in 2022 as government support measures which protected and supported businesses during the pandemic ended. According to official data the total number of company insolvencies registered in England and Wales reached 22,109 – the highest since the financial crash of 2009. Creditor’s voluntary liquidations were at their highest…

Barratt Smith Brown Announce Partnership in China

Barratt Smith Brown are excited to announce a new partnership with Inter Credit Group. The new reciprocal agreement will enable our clients to access high quality debt recovery solutions within China. In return Barratt Smith Brown will service all UK debt recovery for Inter Credit Group’s client base. Based in Qingdao, in Shandong, @Inter Credit…

UK Insolvencies Rise. Are your collections strategies recession ready?

In the second quarter of 2022 UK insolvencies hit a 13 year high – last beaten in 2009 in the middle of the global financial crisis. This is economic environment which demands highly proactive credit-control and collections activity to ensure you maintain cash-flow. Are your collections strategies recession ready? The number of company insolvencies in England and Wales hit a…

Understanding Energy Administrations

An overview of what is driving the current increase in UK energy administrations and what being caught in an energy administration means for consumers. The recent increase in wholesale global gas prices has had an impact on the cost of energy in many countries. The main factor driving these price increases has been the Russian…

Man looking at word outsourcing on wall.

Why should I outsource debt collection or credit-control?

4 key considerations to guarantee success when making the decision to outsource debt collection or credit-control. Whilst many larger businesses will use an outsourced partner to support their inhouse collections, some businesses still have concerns which prevent them making the decision to outsource debt collection or credit-control. Fear of potentially damaging those all-important customer relationships,…

Barratt Smith Brown Customer First Collections. Secure Your Cash Flow and Your Customer Relationships

How to Secure Your Cashflow and Your Customer Relationships

How customer-first collections can build customer loyalty and support cash collection At Barratt Smith Brown we believe collections not only play a critical role to secure cashflow but can also help build customer loyalty. Our customer-first collections strategy puts the customer at the heart of all our collections activity. By ensuring customers receive the right communication in…

How to optimise your debt collection rates.

There are 4 key factors that will give your business the best chance to optimise your debt collection rates. Consider these elements and you will support your organisation’s cash flow and minimise bad debt. Do not let your ledgers age There is a strong correlation between the age of invoice and its collectability. As a…

Barratt Smith Brown Become FCA Regulated

Mark Smith, Ashley Barratt and Richard Brown, owners of global debt recovery and credit management service provider, Barratt Smith Brown are pleased to announce they have successfully completed the FCA approval process and are now a FCA regulated company. Ashley Barratt, CEO of Barratt Smith Brown stated “Becoming an FCA regulated company is critical to…

Debt collection industry trends

6 Debt Collection Industry Trends for 2022

This article takes a look at the debt collection industry trends we predict will be seen as UK business gets back to normal post the Covid-19 pandemic. Credit-management teams across the globe will be hoping for an ease from the pressures of maintaining cash flow during the pandemic. However, post Covid-19 the business world has irrevocably…

Impact of Ukraine Crisis on Energy Prices

As the conflict continues there is growing concern over the impact of the Ukraine crisis on energy prices. With UK and European consumers already experiencing sky-rocketing prices since pandemic there are tangible concerns that the Ukraine crisis will drive them even higher and add to the emerging cost-of-living crisis Russia is the world’s largest natural gas exporter…

How customer-first collections can build customer loyalty

With growing understanding that future market share will be as much won on customer experience as on product and price, customer-first collections are not only socially responsible but will be critical to building customer loyalty and reducing churn. This article looks at what constitutes customer-first collections and why more businesses should be using this approach…

How do we change consumer perception of debt and debt collection?

These are very strange times for those in the business of consumer debt collection. Despite significant moves forward by the industry towards a more customer centric approach, it is not uncommon for any debt resolution activity to be met by consumers with either blind panic and fear or aggressive dismissal. The industry needs to address…

UK Debt Collection Industry Report: Key Trends for 2022

Outlined in this document are the key challenges facing businesses in 2022 and the credit and collections industry trends we believe will be seen as businesses position themselves to overcome them. UK Debt Collection Industry Report: Key Trends for 2022 Contents About Us Author About Barratt Smith Brown Introduction Challenging Economic Landscape Short to medium…

7 Steps To Developing A Customer Vulnerability Strategy

The FCA Finalised Guidance For Firm On The Fair Treatment of Vulnerable Customers identifies three areas which are essential for firms to consider when building a vulnerable strategy as outlined in the below diagram. For businesses which are just starting out building their customer vulnerability strategy, we have broken these down further in to 7…

How to Identify Vulnerable Customers in your Business

Frontline, customer facing staff play an important role in early identification of vulnerable customers, and this can make a huge difference in customer experience and outcomes. It is therefore critical that your customer facing staff can quickly identify signs of vulnerability in any interaction. One of the established best practices for identifying vulnerable customers, is…

Customers Vulnerability: What is a Vulnerable Customer

We all have preconceptions about what vulnerability looks like – whether it is someone with mental or physical disabilities, the elderly and frail or the young. In fact, we all have the potential to become vulnerable – vulnerability can affect anyone. The FCA define a vulnerable customer as “someone who, due to their personal circumstances,…

Utilities Administrations Recovery Services

Utilities Administrations Recovery Services

Barratt Smith Brown are the UK experts in Utilities Administrations Recovery Services. Handling over 75% of energy administrations since 2018 we have developed unique systems and processes to help administrators reduce ongoing costs and maximise recoveries. With extensive experience of working with Ofgem and suppliers of last resort, our comprehensive solution will handle final billing,…

Customers Vulnerability and Debt Collection : Industry overview

Although securing fair outcomes for vulnerable customers has long been a concern both the FCA’s and Ofcom, it has taken a global pandemic to really place it on the agenda of most unregulated businesses which are customer facing. This includes the debt collection and credit management industry, which although often touching customers when they are…

Why do so many energy suppliers go bust?

In 2016 In 2016 GB Energy ceased trading, transferring their 160,000 customers to Co-operative Energy. This was the first energy supplier exit in eight years. Since then, a total of 22 energy suppliers have gone bust affecting over 4 million domestic consumers, with Green Network Energy and Simplicity Energy joining the ever-growing list in January…

Top 6 Reasons to Outsource Debt Collection in 2021

As much as we would like to believe we live in a world where everyone pays an invoice as soon as it hits their desk, or at least on the first available payment run, the reality is actually very different. There will be very few businesses in Europe that do not have to engage in…

New London Head Office

Barratt Smith Brown & 4D Contact Launch New Head Office in London Global debt recovery and credit management service providers, Barratt Smith Brown and 4D Contact, are pleased to announce the opening of a new head office for both businesses in London, UK. Mark Smith, CEO of 4D Contact stated “As we continue to expand…

White-label Debt Collection

How law firms can improve lock up and drive increased revenues through white labelled debt collection and credit management White-label credit control or debt collection is when a debt collection or credit management agency delivers their services for a client or partner using the client’s name and brand. This gives the client’s customers the appearance…

Business Stream Case Study

Business Stream Case Study: How proactive credit-control was used to support customers during the Covid-19 crisis. A subsidiary of Scottish Water, Business Stream is one of the largest water BTB retailers in the UK operating in both Scotland and England’s highly competitive non-domestic water markets. With over 12 years’ experience of operating in…

Picture of touch screen with business growth on it

BARRATT SMITH BROWN MOVES INTO UK DEBT PURCHASE MARKET

Launching new partnership with Fortis Group Holdings Barratt Smith Brown are pleased to announce a new partnership with Fortis Group Holdings – an international hedge fund seeking new opportunities in the UK debt purchase arena. Barratt Smith Brown has an established reputation for providing market-leading, consumer and commercial debt collection support to its…

Picture of Ian Deacon

Barratt Smith Brown appoints new Director of Utilities Collections

Barratt Smith Brown have appointed Ian Deacon (Head of UKB Debt Strategy and Analytics at British Gas) into the newly created role of Director of Utilities Collections. The appointment demonstrates Barratt Smith Brown’s commitment to extending its existing portfolio of utilities clients and to establishing itself as the UK’s leading agency for outsourced utilities…

2021 Debt Collection Strategies

The Impact of Covid-19 on Debt Collection Strategies and Techniques In recent years there have been significant developments in debt collection strategies and techniques. The expansion of digital and technological transformation has provided many businesses with a deeper understanding of the effectiveness of historic debt collection strategies. This seismic shift in insight and understanding has…

2021 debt collection landscape

Overview of 2021 Debt Collection Landscape

Whilst many hoped that 2021 would mark an end to the Covid-19 pandemic and a return to normality, the reality both in the UK and globally is very different. The mutation of the virus into new, more transmissible strains has in fact seen the number of infections and hospitalisations soaring to levels far beyond…

CDS (Corporate Debt Solutions) Global changes name to Barratt Smith Brown

Ashley Barratt CEO at Barratt Smith Brown I am delighted to announce that as of 28th February 2020 CDS (Corporate Debt Solutions) Global will be changing our name to Barratt Smith Brown (www.thebsbco.com) to mark a new partnership between myself and Moreton Smith Receivables co-founder Mark Smith and ex Moreton Smith CRO, Richard Brown.…

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UK Debt Collection Industry Trends 2022

Download our eBook: Credit and Collections Strategies for 2021

Moving to “Customer First”
credit and collections post COVID-19