In the world of property management and operations, balancing financial efficiency with supplier relationships can be a complex, demanding task. At Future Group, we recognised these challenges early on and the impact they can have on growth. Enter Block Debt—a visionary solution for credit control and invoice management that has fundamentally enhanced our financial operations.
The Need for a Solution: Block Debt’s Mission
Before implementing Block Debt, we faced the common challenge of managing cash flow amidst the ongoing effort of chasing invoices. This scenario is one all too familiar to companies across industries, where late payments can strain supplier relationships and impact cash flow, stalling growth and progress. Block Debt was born from the industry’s recognition of this very problem. Founded on the concept of creating a supportive, flexible payment solution that respects supplier relationships, Block Debt has grown into a one-stop system designed to streamline and celebrate prompt payments while effectively recovering late ones.
Created by Matthew and his team, Block Debt is built on three pillars: Support, Recovery, and Celebration. They provide dedicated support to finance teams, enhance supplier confidence by encouraging timely payments, and acknowledge prompt payers across the industry. Their dedication to these principles aligns seamlessly with Future Group’s values and has significantly transformed our credit control process.
A Strategic Investment: Future Group’s Experience with Block Debt
Future Group started using Block Debt’s credit control services over eight months ago, and the results have been transformative. Outsourcing our credit control to Block Debt has enabled us to bypass the need to expand our in-house finance team. This strategic decision has kept our overheads low while ensuring our invoices are meticulously managed at every stage of their lifecycle.
“By choosing Block Debt, we’ve avoided the need to hire additional staff, which keeps our overheads low while ensuring that our invoices are carefully managed throughout their lifecycle,” said Jamie Willsdon, Director at Future Group.
Key Benefits of Block Debt for Future Group
- Reduced Payment Times
Block Debt’s professional approach has significantly reduced payment times, freeing up capital for Future Group. This capital can now be reinvested into our core business areas, allowing us to expand and develop while maintaining excellent supplier relationships. - Lowered Bad Debt Incidences
Block Debt’s system has drastically cut down our bad debt—a challenge that had previously been a major issue. With a streamlined process for managing late payments, Future Group can now focus on its primary objectives, knowing that its finances are in expert hands. - Increased Focus on Core Business
Having Block Debt manage our credit control has not only reduced administrative strain but also freed up valuable time and energy. This allows us to concentrate on what matters most: delivering high-quality services to our clients and advancing our initiatives like Future Decarbonise. - Celebrating Prompt Payers
Block Debt’s unique approach to celebrating prompt payers has also reinforced a culture of respect and recognition in the industry. By highlighting those who prioritise prompt payments, Block Debt has fostered a positive payment culture that benefits everyone involved.
Looking Ahead
Since working with Block Debt, Future Group has seen the benefits of a proactive approach to credit control, with more financial stability and an enhanced ability to invest in future projects. Block Debt’s commitment to supporting UK suppliers, recovering due payments, and celebrating those who pay promptly resonates with Future Group’s mission to innovate and lead.
In a world where cash flow management is critical, the partnership with Block Debt has been a game-changer for Future Group, enabling us to support growth while safeguarding the relationships that drive our business forward.
