One of the best pieces of client feedback we have received was, “I was sceptical at first – I needn’t have been. My company uses the toolkit everyday and it has helped us avoid some business decisions that would have put us in a vulnerable position. Worth every penny of the £79.95 annual subscription.”
And that is really our Business Support Toolkit in a nutshell. £79.95 + VAT not only gives you peace of mind, but provides several other services that can help grow and protect your business. Here are 10 reasons why you shouldn’t be without our Business Support Toolkit.
- Understand your suppliers - Can you trust your supplier not to let you down? Can they deliver or are they a smaller outfit than you have been lead to believe? Make sure that you have a full understanding of the size of the business and whether they meet with your expectations. We can tell you how long they have been trading, their turnover and assets and who is ultimately responsible for that business. Remember, your suppliers are helping you to deliver a service or product to your customer – don’t put your customer relationship at risk.
- Understand your competitors – You know what they say, ‘keep your friends
close butyour enemies closer’ – well that works in business too. It’s good practice to keep your eye on the competition, their size and any other businesses that they are associated with.
- Understand your customers – Your customers are the life blood of your business, so you need to make sure that it keeps on moving. Our Company Information portal can tell you exactly who you are dealing with – giving you up to date insights on trading history, the average time that it takes a company to pay their invoices and how much credit would be a safe amount to provide. Our unique Financial Health Rating gives you an instant snapshot into any company’s financial stability. (Tip - by selecting to monitor this business, we can give you the heads up if their financial outlook changes, meaning you can respond quickly by getting your invoices in and paid).
- Reach new prospects – who doesn’t want to engage with new customers? Also included in your subscription (and to quote one of our clients – ‘worth the £79.95 per year alone’) is the ability to build bespoke marketing lists for email, telephone or mail campaigns. Build by SIC code, industry or keyword and then add any filters you may require (location, turnover, assets, age or financial stability) and hey presto, a fully GDPR compliant marketing list will be delivered to your dashboard (Yes, all subscribers have a unique dashboard making searches and downloading orders easy and more efficient – we should really make this point number 11 but we don’t like odd numbers)
- Fulfil AML regulations – Companies working in the financial sector have an obligation to run some level of anti money laundering checks. And even if you don’t work in the financial sector, its good practice to ID check your customers for large or unique transactions. Our Business Support Toolkit can do this for you – running ID checks, standard AML screening or a more enhanced report. This service is only available to Business Support Toolkit subscribers and has a small additional charge is applied (up to £5.95 per search). We do the legwork for you, making sure that you are applying due diligence in who you are dealing with.
- Access resources – We hear from many businesses that spend time completing tasks that they are not fully equipped for – meaning that their core business can get ignored and suffer in the longer term. Business Support Toolkit subscribers have access to a Resource Toolkit which includes support services such as credit control, debt recovery support, legal counsel advice and actions, call centre facilities and branded mail campaigns. Outsourcing these elements to another business – permanently or ad hoc – means you can focus on your product, service and customers.
- Keep an eye on new entrants to market – You’ve dominated your regional market in a particular field but what’s this? A new startup? A pretender to your throne, wanting a slice of the action with your customer base and driving up supplier costs. They may plan to undercut you on price (fewer overheads, you see) – so you should keep your eye on these fresh out of the box companies. Another good reason to keep your eye on new entrants is that you can be the first to introduce your business, product or service to them. Win, win ...
- Keep data compliant and accurate – Did you know that the Information Commissioner’s Office recommends that you screen your data for compliance every 28 days? That’s a laborious task but in this age of data protection, absolutely mandatory. If only there was a service whereby you could upload your data to a portal for address validation checks, live telephone matching, mortality records and GDPR compliancy. We feel very smug telling you that we’ll do all this for you – all included in your annual £79.95 subscription. Yes sireee.
- Expand your portfolio with new acquisitions – So, you’re doing well and looking to expand your company? Perhaps you are looking for merger opportunities or need to invest in some pre-loved kit? Get in early with companies that may be ripe for a conversation with our New Acquisition Reporting. We’ll tell you which companies are in a distressed state and might welcome some investment or a chat about any mutually advantageous opportunities.
- Check director and shareholder structures – Who exactly are you dealing with? Do they have a solid track record in business? Or could they leave you high and dry – moving on quickly without settling up what they owe? We give an extremely thorough insight into directors and shareholders and other companies that they have been or are associated with. This simple check can give you so much insight – and perhaps save you from financial risk.