Debt Collection
In today's world, bad debt costs UK businesses billions of pounds every year. According to OFWAT, UK Water companies wrote off £93 million of bad debt in 2004 and are currently owed £779 million.
Tight legislation restricts and prevents service disconnection, regardless of debt levels, making it particularly difficult to recover outstanding debt. It is therefore imperative that Utility companies effectively manage Debt recovery activity.
Through our debt recovery agency, First Revenue Assurance (FRA), we provide highly successful end-to-end outsourced debt recovery solutions that deliver significant improvements in debt recovery rates for our clients.
We manage hundreds of millions of pounds worth of debt for clients every year. Key to the success of our in-house agency is our offshore capability. Our team based in India are an integral part of our debt recovery capabilities, enabling us to recover debts that would ordinarily be uneconomical to pursue, delivering significantly improved debt recovery rates for our clients. Vertex employs 400 utility focused debt collection agents, with 110 of these being based in India.
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