What is Accounts Receivable Services?

Hennessey Capital can play the role of a client’s credit department. We utilize several online resources and our vast history of the factoring business to assess credit on behalf of our clients. We can establish credit limits prior to the actual sale to the customer so our clients can manage sales levels and control bad debt.

Why Accounts Receivable Services?

Hennessey Capital understands the demands of running a business. Managing accounts receivable is critical to business success, yet can be time consuming and labor intensive. Hennessey Capital offers account receivable management service that couples know-how and technology to make you’re A/R run flawlessly.

Invoice Validation

Many times businesses ship products or provide service to their customers but never know if the customer is satisfied with the product or service until weeks or months later when invoices remain unpaid. We will validate receipt of product and confirmation of service to make sure shipments are correct and that customers are satisfied with the service. Some customers find it easier to voice concerns to a third-party vs. directly to the business who sold them the product or service.

Invoice Collection

Invoice collection can be a service that is completely outsource to Hennessey Capital. We become an extension of your receivable department. We are active in addressing delayed payments since we know that cash is king for our clients. We tend to be the squeaky wheel and usually can help increase receivable turn around for many of our clients. Since we are a relationship based company, we know that customers are sacred. Our approach to invoice collection is that of customer service not a collection agency. The better the repertoire we have with our client’s customers, the easier it is to solve potential collection issues.

Lockbox

A tool used by many large corporations is a cash management account or lockbox. A lockbox is used as a way to expedite the application of cash into a depository account. Many companies do not have the time to gather checks via the mail, complete deposit slips and make a daily check run. A cash management account is an efficient way to address these issues. Checks are sent to a bank PO Box; funds are deposited immediately into an account and applied against a line of credit or specific invoices. With the efficiency of the internet, cash management accounts can be tracked online.

In addition to a cash management account, we suggest that our clients discuss electronic payments with their customers. It creates additional efficiency for our clients and eliminates the issue of checks lost in the mail.

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