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Published
14 August 2023
Read time
2 minutes

TMF Group launches new collection receivables service

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TMF Group, a leading provider of compliance and administrative services, today announced the launch of a new collection receivables service, to allow companies to manage their cash flows and strengthen their financial health to withstand economic challenges.

The new offering expands the range of services provided by TMF Group’s accounting and tax service portfolio and is available in the 86 jurisdictions where the company has a direct presence.

The bespoke service will help clients increase efficiencies, improve collection success rate and redirect their internal resources.  It will also simplify the process of collecting payments, empowering businesses to focus on their core operations while minimising the risk of late or missed payments.

Key features and benefits

  • Collection calls and reminders: streamlined collection process through automated payment reminders to clients, in reducing the need for manual follow-up calls provided by our trained collection professionals. This feature ensures prompt payments, helping businesses maintain a healthy cash flow.
  • Central coordination: the service follows a centrally coordinated approach with a single point of contact to the customer, consisting of both local and international subject matter expertise.
  • Integration with preferred ERP system: not only will the collection receivable service help organisations mitigate the risks of extending credit to clients, but it is also fully customisable and can be integrated with any ERP system.

It is not a secret that many companies are currently facing some financial headwinds such as high rates of inflation in certain markets. This has forced CFOs around the world to design strategies to tackle these challenges, to maintain a healthy cash flow and keep costs down. We want to support our clients in achieving these goals. With this in mind, the service will enable TMF Group to manage the entire order-to-cash process for clients.

Mark Rosson TMF Group’s Global Head of Accounting and Tax and Human Resources and Payroll

The new collection receivable service helps our clients to reduce their days sales outstanding. Benefits include improved cash flow, optimised working capital and reduced bad debt risk. These advantages contribute to the company’s financial health, profitability and long-term sustainability. Improving cash flow is essential for a company’s financial health as it ensures liquidity and operational stability, with the goal to strengthen its position, withstand economic challenges, and position itself for long-term success.

Hugo Staman TMF Group’s Head of Collection

Note: this service is only available in jurisdictions where its provision complies with local laws and regulations.

Media Contacts

TMF Group:
Antoni van Huissteden, Chief Marketing Officer
antoni.van.huissteden@tmf-group.com 
T: +31 6 15 82 10 03

 



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