News Article

Credit Management

Leading waste management company champions ‘Smarter Receivables’

By CreditMan Friday, January 9, 2015

Reconomy, a leading provider of outsourced recycling services, have taken another positive step to embrace a modern receivables management regime with an innovative new technology solution, which pushes the boundaries of traditional credit practices and places Reconomy at the forefront of receivables management.

The company this week signed a deal with MoretonSmith, to implement what they are calling the ‘Smarter Receivables’ approach to credit management.

Reconomy will roll out MoretonSmith’s ero57 collection technology in early 2015, across its entire operation.

The solution will provide granular analysis of every interaction in Reconomy’s process and allow them to manage their processes at a by-customer level. It will also automate many tasks currently carried out manually, including targeted e-communications, and offer 24/7 online payment portals.

The company has stated its desire and focus to continue its ongoing efforts to improve cash flow efficiency, reduce costs and refine risk management in both the short and long-term.

Chris Price, finance director at Reconomy, stated that:

“The ero57 solution will enable Reconomy to make strong gains and efficiencies with customers, reducing the amount of time absorbed by the existing credit management approach.

“The advanced functionality of the ero57 solution will keep Reconomy at the forefront of receivables management with a progressive system that continues to evolve and grow with our business”.

ABOUT Reconomy:

Reconomy is the UK's market leader in outsourced waste management and recycling services. Their nationwide operations extend to every business sector, helping thousands of companies and other organisations to recycle, process or otherwise dispose of every category of waste in a responsible, eco-friendly and cost-efficient manner. Reconomy handle every conceivable waste disposal problem and through the Reconomy Portal their customers receive full visibility of their waste streams from creation to disposal, keeping them up-to-date and in control.

ABOUT ero57:

ero57 has been developed by the receivables technology division of London-based receivables experts, MoretonSmith. MoretonSmith are steeped in 20 years of comprehensive receivables management across the globe. This SaaS solution helps to deliver the company’s ‘Smarter Receivables’ approach, which seeks to strike the optimum balance of people, process and technology in order to better understand where and how payment behaviour can be influenced.