itsettled is an automated credit control and debt recovery platform designed to help UK small and medium-sized enterprises efficiently collect outstanding invoices, reduce financial risk, and enhance cash flow. By integrating seamlessly with popular accounting software like FreeAgent, QuickBooks, and Xero, itsettled streamlines the debt collection process, allowing businesses to focus on growth without the burden of manual follow-ups. The platform has successfully assisted over 1,600 UK businesses in recovering more than £420 million, demonstrating its effectiveness in addressing late payment challenges.
Key Features and Functionality:
- Automated Credit Control: itsettled automates the entire credit control process, sending timely and consistent communications to clients, which appear as if they come directly from your business, thereby maintaining professional relationships.
- Unlimited Invoices and Users: The platform supports an unlimited number of invoices and users, making it scalable for businesses of various sizes.
- Email Integration: Users can connect their email accounts to the platform, ensuring all communications are centralized and easily accessible.
- Credit Reports and Application Forms: itsettled provides access to credit reports and customizable credit application forms, enabling businesses to assess and manage client creditworthiness effectively.
- Invoice Checker: The platform includes an invoice checker feature to ensure accuracy and completeness before sending, reducing the likelihood of disputes.
- Partner Ecosystem and Access to Funding: itsettled offers a partner ecosystem and access to funding options, providing additional resources to support business growth.
- Accountancy Software Integration: The platform integrates with leading accountancy software, facilitating seamless data synchronization and management.
- Debt Collection Guarantee: itsettled offers a debt collection guarantee, ensuring that if the automated process does not result in payment, the case is escalated to their sister company, Credebt, at no additional cost.
Primary Value and Problem Solved:
itsettled addresses the prevalent issue of late payments that many UK SMEs face, which can significantly impact cash flow and business stability. By automating the credit control and debt recovery processes, itsettled reduces the time and effort businesses spend chasing overdue invoices, allowing them to focus on core operations. The platform's proven process, developed over 25 years, ensures timely payments while maintaining positive client relationships. Additionally, with a 93% success rate in debt recovery, itsettled provides businesses with confidence in their financial operations, ultimately supporting growth and reducing the risk of insolvency due to unpaid debts.
