BICB and AMPAC Debt Recovery recently meet to discuss the benefits of working more closely together to build greater awareness of each other’s services throughout the building and construction supply sector. This is timely, as the broader Australian economy has been impacted on several fronts recently by drought, bushfires and now COVID-19. It is expected that the effects on cash flow from declining revenues will accelerate in coming months. Cash flow management needs to be an integral element of a company’s overall COVID-19 risk assessment and action planning in the near term.
AMPAC Debt Recovery is a fully licensed, Australian owned and operated debt recovery agency, with a commitment to providing innovative solutions and advice to clients. AMPAC specialises in the building and construction sector with clients ranging from small businesses to large multi-national suppliers in the equipment hire, steel, timber, electrical, plumbing, excavation, concrete, brick, roofing and plasterboard markets, all of whom provide commercial credit to their customers.
AMPAC’s integration of core collection and related technologies are specifically designed to engage debtors in the recovery process, thereby reducing the time and costs normally associated with managing overdue debt. This includes the collection system, client reporting tools, telephony, debtor payment systems, client online interface (AMPAC Online) and business continuity capabilities.
Integrated technology means that AMPAC’s people have more time to spend working directly with clients and their debtors, thereby ensuring every matter receives the attention it requires.
AMPAC uses the latest in voice recording and payment management technology designed to give clients a clear advantage in the debt recovery process. All inbound and outbound telephone calls are recorded, which assists with compliance and provides verification in the event a matter is defended and goes to court
AMPAC’s clients also benefit from the use of paperless direct debiting from a debtors’ bank account or credit card. Paperless direct debiting means that AMPAC is able to establish an immediate one-off or recurring payment arrangement with a debtor in a PCI compliant environment.
AMPAC’s services include:
• Issuing email, SMS written and telephone demands
• Effectively handling inbound queries resulting from the demand process
• Establishing and managing both formal and informal payment arrangements
• Commencing legal action, carrying out enforcement and managing defended actions where necessary
• Reporting on the performance of matters and portfolios
• Reviewing and redrafting terms of trade and/or credit applications to improve recovery outcomes
• Real-time, online access to all matters via a secure portal
Where a client’s terms of trade incorporate a cost recovery clause, AMPAC’s collection system automatically calculates all recovery costs (including commission) and adds these to the debt amount from the date the debt is referred.