IODM - Accountant Presentation


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IODM proudly present how our software can help accountants add value to their clients

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  • Debts impact cash flow Poor control of debt recovery outcome (outsourced) Costly, time consuming process AR staff may have a lack of understanding of the company’s financial situation Care-factor of AR staff (“not my money”) Reluctance to confront debtors Agro factor Debt recovery impacts client relationships Escalation procedures vary, ad-hoc, not effective Only considered “serious” when escalated to a Debt Recovery agency (the big stick) Barriers to use of technology? (internal)
  • Of the over 2 million businesses actively trading in Australia, around 96 per cent are small businesses, representing a high percentage of the $6 billion in outstanding business debts. The debt recovery industry alone earns a staggering $1.8 billion. Increased delays to invoice payments means debtors are simply using their suppliers to finance their operations. Average recovery fee of 20%
  • IODM - Accountant Presentation

    1. 1. New value-added service for you & your clients March 2013 Commercial in Confidence* 1
    2. 2. IODM Vision/what we do?• IODM founders recognised the need to reduce the costs of cash flow management and provide better debtor management solutions• IODM Cash Flow Management solution enables Enterprises (SMB’s) to better manage their recalcitrant debtors, improve accounts receivable processes and reduce banking costs such as overdrafts.• IODM has developed a ‘cloud based DIY Debt management application’ that customers can log on from any web enabled computer and generate genuine letters of demand to their debtors • IODM automatically schedules the letters notifications • IODM produces management reporting of debt management • Improves debtor behaviour • Reduces overdraft amounts and costs Commercial in Confidence* 2
    3. 3. IODM & Strategic PartnershipsIODM has a strategic partnership/Joint Venture with ‘Global Credit Solutions’ GCS is a global enterprise represented in over 100offices within 90 different countries. • Software development • World Wide debt collections • Customer support • 90 different countries • Marketing and sales • 100 offices • IT Support • 3000 staff • Strategic Partnerships • 50 years experience • Management • International locations • Know your Client • Know your customer • Debt collections * Commercial in Confidence • Skip tracing 3
    4. 4. Joint Venture – Global Strategic Alliance EUROP E North Greater America China Caribbea Middle East & n Africa South East Asia Latin America Australia & Oceania Melbourne (HQ)* 4
    5. 5. Joint Venture - Global Strategic Alliance* 5
    6. 6. The business issuesTake control of your debtors Gary Heywood – Partner Haines us ines Do ItWatts er ing b red the30 January 2012 a flound recove st s of ssfully the co succe na dd to can be ies ca e, debt ya genc owledg ecover rrect kn dd ebt r the co . fr ica )Ba d with … A e …… S o u t h Arm elf route on ( rs t You r H u p s F le u Debtor days hit highest level since 2001 – D&B Bad debts strike at BoQ’s bottom line – Financial Review * PUBLISHED: 09 Dec 2011 7
    7. 7. The business issues4.5m + Small businesses in the UK £1,500 Billion in business debts • 99% are SMBs • £60 Billion pounds referred to per annum collection industry in 2011 (Source FSB) 6
    8. 8. The business issues UK businesses are taking longer to pay their bills .• National payment terms @ 61.5 days during the June quarter 2012.• National payment terms @ 53.4 days during the June quarter 2011.• two-thirds of businesses took longer than the standard 30 day period to pay company accounts. Commercial in Confidence* 8
    9. 9. Economic Proposition to Members Case Study: “The Hidden costs” Traditional Debt Collection methods IODM Company A Company B Debt Amount £5,000 £5,000 Time frame 9 months 3 months Overdraft fees @11% £413 £138 Commission @ 25% £1,250 £0 IODM Cost £0 £300 Total Cost. £1,663 £438 By using IODM the debt is collected 6 months earlier than traditional methods and the user has a cost saving of £1,225* Commercial in Confidence 9
    10. 10. IODM Model, Faster paying debtors and simplified debt management, reduced costs, simpler…….better Subscription Law Firm Business invoices & based DIY, with Letter , discounted reminder notices sent Real muscle! court costs included! 45 days 21 days 14 days 7 days 7 to 28 days Accounts Negotiations or Receivable settlement Total debt recovery period reduced to less than 3 months compared to 9 months using conventional* 10 methods with IODM at a fraction of normal costs!
    11. 11. The IODM revolution in Cash flow management IODM Online GCS Legal If needed- Cloud based, DIY -Referred to enforcement agency- Automatically generates 3 debt collection letters -Phone Call for each debtor, but managed by Customer. -Legal Team- Subscription based, no commission, no -Know your employee contracts- Provides the real muscle without the cost * Commercial in Confidence 11
    12. 12. Personalised debt collection ‘Demand Letters’ DIYC/IODM Database Collection Letterhead Demand Letter One Your Company Details Legal wording Demand Letter Two Your Debtor details -Your Company Details -Your Debtor Details -Storage of Letters Generated -Responses from your Debtors Commercial in Confidence* 14
    13. 13. IODM Versus Traditional Debt CollectionTraditional Debt Collection IODM Revolution • Large sign on amounts • No sign on amount • Large commission fees • No Commissions • Usual contract required • No contracts • Charges based on success • Multiple communication delivery • Managed by Collection agency methods • No regard for customer • Automatic scheduling communication • Management reports • Extra costs for legal involvement • Managed by client • No discounts for court costs • Maintains customer communication * Commercial in Confidence 12
    14. 14. Traditional collection methods?
    15. 15. * IODM Letter 1 IODM Letter 2 IODM Revolution!14
    16. 16. IODM Cloud application workflow - 4 easy steps Commercial in Confidence* 15
    17. 17. IODM - Step one - Registration IODM - Step two (after company details and Plan selected) Upload Debtors Clients can be uploaded singularly or bulk loading using a simple spreadsheet (supplied). All Clients are stored into IODM database Commercial in Confidence* 16
    18. 18. IODM – Step three - Select which clients to notify IODM - Step four - Send notifications Clients will have a copy of the letters of demand. All letters are tracked and Stored in IODM database and sent by our legal team Commercial in Confidence* 17
    19. 19. Manage & report on clients Commercial in Confidence* 18
    20. 20. Testimonials‘Just a short note to thank you for your efforts over the past months.Since using IODM, I have reduced my outstanding debtors, improved my cash flow,and identified which clients are on my watch list. I find the system easy to use, andthe letters really work. I pay one simple monthly amount and IODM support isalways there if needed. Pleased with your professionalism and results, I have nohesitation to recommending IODM to anyone’.Robert Morgan – Morgan Constructions & Shop Fitters‘I am a builder in the trade for many years and have often had difficulty in gettingpaid for my work. I have used debt collectors in the past, but they were costly anddid not provide good customer service. I starting using IODM and found that theyare far cheaper, just as effective and provide me with great debt managementreports. My debts are collected at a fraction of the normal debt collection costs. Ifyou want better debt management, cheaper costs and improved cash flow then useIODM’.Mark Reidy – Reidy Constructions Commercial in Confidence * 19
    21. 21. Benefits of you partnering with IODM?• IODM offers you a value added service & distinctive software offering to all your clients.• IODM is a unique offering that will facilitate you to offer increased business value to your client base• Your company now has a product offering that provides your customers with real value• SMB’s see you providing a product/service that greatly assists their cash flow• IODM is a Cost effective offering which gets consistent proven results• Creates better loyalty from customers• Creates an acquisition and retention loyalty offering• Possible new revenue stream for you• Able to roll out internationally with you if opportunity if required* 21
    22. 22. Benefits of you partnering with IODM ?
    23. 23. Why should your clients use IODM?• Businesses that have debt management issues now have a unique solution to these significant business issues • Your trusted in the industry, Your new branded offered solution provides assurance to your clients that our IODM software delivers whats needed. • Significant discounts can be provided to your clients, using your branded IODM solution • Your clients fall into three categories: • Clients who have no debt management issues ( Cash economy ) - They do not need IODM • Clients who are currently using a debt collection service, now have a more cost effective solution • Clients that have debt management issues but do not currently use a debt management solution* 22
    24. 24. IODM Benefits Prevention Strengthen Cash Flow Management Procedures Better control of debtor management Mitigate exposure to bad debt write offs Introduce better payment cycles to clients Value Add Service to the clients Cost effective alternative Commercial in Confidence 23*
    25. 25. Your flow chart Client IODM Web site Report Generated for Report Generated for IODM Registration you you IODM Web Application* 24
    26. 26. IODM Compliance• IODM uses National Australia Bank (NAB) payment gateway for all UK & international Credit Card processing, NAB Transact• IODM complies to NAB approved PCI SAQ A• IODM Data servers are located in Germany and comply to EU privacy and data security laws• IODM uses SSL encryption* 25
    27. 27. IODM principal owners Paul Howell - Director (UK) Paul is a seasoned and successful leader with 20 years track record of producing, presenting and managing the implementation of innovative business solutions. Highly motivated with a proven ability to develop people and commercialise all aspects of a business. Highly successful in implementing business process improvements, defining company direction, achieving goals, change and optimising business procedures. Senior positions in Barclays Bank plc. and Woolwich building society and running a successful business for 10 years in financial services sector. Damian Arena - Director (Aus) Damian has an accounting background and his prior roles have been as the CEO of LP Gas 1, to which he expanded the company from a one shop outlet in Victoria to the largest LP Gas installer in the Southern Hemisphere within a 3 year window. Subsequently this company was sold to a publicly listed company on ASX. He has also been the CEO of the Noodle Box Group to which he was involved in growing the franchise chain across Australia. In both instances he invested funds into the ventures and had a shareholding. Damian has been an investor and executive in growth companies for a number of years, such as Consolidated Collections, Bodizone, Flip Technologies and Tiger Technologies achieving corporate growth through a mixture of direct sales, franchising and channel partnering via his vast network in Australia and overseas. Chris Rogers - Technical Director (Aus) Chris has over 30 years in the consulting IT industry. He has consulted at some of the largest European enterprises in the world. He has a very sound understanding of customer profiling, marketing segmentation and permission marketing. He has developed a multimillion dollar professional services consultancy business in APAC from 2007 to 2009 and has also previously sold a high value IP in a trade sale to USA Nasdaq listed company in 2000* 0845 4594638 26 sales@
    28. 28. Thank You For further details please contact: Paul Howell - Director (UK) E: M: +44 (0) 7956 520381 T: +44 (0) 845 459 4638 F: +44 (0) 1277 231311 W: Damian Arena - Director (Aus) E: M: +61 (0) 419 106 176 T: +61 (0) 3 9098 8689 Chris Rogers - Technical Director (Aus) E: M: +61 (0) 439 198 115 T: +61 (0) 3 9098 8689* W: 27