Remedy Credit Control Solutions Denise O’Gorman

Remedy Credit Control Solutions Denise O’Gorman CMII, Honours Business.

Remedy Credit Control Solutions was founded in January 2023 following months of research and preparation. It is owned by myself Denise O’Gorman I am based in Cork city, the business is designed to cater for all Irish and UK businesses.

I have set up the business structure as a self-employed sole trader. I work from my home office and have fully set up the business as of the 01.01.2023 this includes revenue registration, CRO name registration, insurance, accountant, solicitor, Sales, marketing and all the administration.

I have been a credit professional for over fifteen years which have included working various industries such as recruitment, construction, retail, travel and media intelligence in both Ireland and the UK. I hold an honours business degree and am also a member of the Credit Management Institute of Ireland (CMII) and the Association of Credit Directors and professionals. (AICDP).

On my return to Ireland from London in 2016 I observed the lack of correct credit management processes throughout Ireland and how it is affecting different industries within the Irish marketplace. This could be seen in the Irish economy and its failings as a lot of business were and still are experiencing cashflow difficulties. This has a lot to do with not having the correct procedures or processes in place to deal with the credit function and the order to cash management process which for many businesses provides a large part of their income. And delays in payments have proven to have adverse effects on a business.

I also did some research on the Irish market and found that there were hardly any credit professionals available to hire to give consultancy or provide services to businesses who were struggling or that wanted to keep ahead of their competitors by creating a suitable credit management policy and implementing it into the business. This is now a vital function within a business as a lot of businesses create sales by offering credit to their customers, but this also comes with a large risk if it is not done properly and monitored.

Business offerings

To provide for these gaps in the market I have set up the business offering the consultancy and services which I think are the most needed with Irish industries and which the business themselves and the Irish economy can benefit from. After extensive market research and discussions between myself and other business professionals within industry I decided to launch Remedy Credit Control Solutions. A list of the services and consultancy options are as follows:

The services available are:

Collections by Phone, email, letter and in person.

Reporting on all correspondence and highlighting any business issues

Promises to pay.

Disputes and dispute resolution

Refusals to pay.

Common feedback from customers, to highlight any internal issues.

Cash allocations and note inputting on accounts with remote access.

The service can be done as third party or as an internal part of the business.

Services are bespoken to each client and are tailored to suit business requirements.

Consultancy services which include:

Outsourced Credit control management and controls

Credit risk evaluations – credit terms – credit limits – credit vetting

Credit policy reviews – implementation

Order to cash management – New customers – ensuring prompt payment conditions.

Advising on difficult to recover debt and negotiating payments and payment plans.

These objectives will provide my clients with many benefits such as reduced days of sales outstanding, increased cashflow, increased profit, brand protection, improved customer experience and all at a cost-effective rate as I will be charging a flat rate and commission on the more aged and difficult debts to recover which removes the need for my client to hire extra staff and reducing the cost of paying for the employees PRSI, holidays, sick pay etc. The service is very efficient and effective. With a target driven service to ensure maximum debt recovery in an efficient timescale.

At present the business is in its preliminary stages, it is a few months old and still a seedling, but I am getting plenty of interest in the business and its offerings. I have been working hard on marketing and networking across Cork and Ireland. But still need to do and achieve a lot more as I am a new face on the business scene and need to become more established.

I plan to take on my first employees within the next twelve months and create employment in the Cork area. I will also be training credit controllers to the best practices and professionalism within the credit control function of a business. And will be creating my own training program for credit control teams and departments going forward and as the business grows.

For now, I am keeping busy running all the functions of a business myself from, marketing, sales, accounts, networking, administration etc.

It has proven to be very time consuming but very enjoyable and worthwhile as I have been meeting with a larger group of professionals through groups such as Network Cork, the BNI and Cork Chamber.

I have also made a lot of friends which is an added bonus!

More recently, I have also created a more professional LinkedIn and Facebook profile on the businesses accounts so that I can create an online presence for my business and ensure that it is well known and always kept in people’s minds to ensure future business and growth. My followers and connections are growing larger and larger every day, and this is a very positive outcome for me.

Also, I have been getting my name and the business name out there by attending community fundraisers and social events. This has recently included an event for Marymount hospice and This month I am completing the Jog 28K in February for Pieta house which aims to prevent suicide and treat people with suicidal tendencies with counselling and training.

I am delighted to receive this support package from Business Cork, and this is a very exciting time for myself and Remedy Credit Control Solutions.

Denise O’Gorman