DebtCase

• 

  Step 1: Link your Xero account

• 

  Step 2: Select an overdue invoice

• 

  Step 3: Select a Debt Collection Agency

• 

  Step 4: Upload supporting documentation and confirm

• 

  Step 5: Stay informed with real time, transparent updates

Background

As of September 2015, British SMEs unpaid invoices totalled £67 billion. That’s up 8% on the previous year and 14% of their annual turnover... imagine the total now with the uncertainty of Brexit looming.

Most SMEs don't know who to turn to about their overdue invoices, so a promise to pay goes unchallenged. Add to that our recent survey showed over 58% have written off at least one invoice, but only 27% have ever used a Debt Collection Agency (DCA) thinking it will take too much time and isn't worth the effort... amongst other things.

By putting the power back into the SMEs hands, DebtCase allows them to select a DCA who offers real-time transparent information, streamlining the whole process and making debt collection a viable option again.

How it Works

Step 1: Link your Xero account to DebtCase

Step 2: Select an overdue invoice from the list retrieved

Step 3: Select a DCA based on commission and fees

Step 4: Upload any supporting documentation (securely stored in S3) and hit confirm.

Once the agency accepts the debt (using our sister product DebtCase CRM) everything they do is reflected back in real time. This keeps the Xero user informed throughout the entire collection process, which in-turn helps them make better decisions on how far and how fast to pursue individual debtors.

Fees

If the agency selected add their fees on top of the debt, which is standard practice, and are successful in collecting it, the Xero user will receive the entire invoice amount. No charge from us for using the system.

The agency receive their commission from the debtor, not the Xero user, and as our fees come from the agency this potentially makes DebtCase free to use.

We call this a Win-Win-Win.

Future development

Ultimately we'll be launching an app version, for on-the-go notifications, but in the interim we'll be adding more parameters to the agency search (Distance and Success rates) and applying for Xero Marketplace approval.

After that we'll integrate with additional account packages (ie Sage, Quickbooks and MYOB) and look to team up with more DCAs, both in the UK and overseas, so we can offer this service to all SMEs.

We'll also be building an API so other third-party applications can offer DebtCase as part of their service.

Built With

• .net
• amazon-web-services