Our FTSE 250 IT infrastructure supplier asked us to recover outstanding invoices for £334,000, ranging from two to six months beyond terms. Our client’s services were vital to the buyer, but they had cash management issues due to a restructure of their finance operations and combining of its legal entities. In discussion with the debtor’s company secretary, we agreed that
BACS research finds the cost to UK’s smallest businesses was £6.7bn in 2018, versus £2.6bn in 2017, a massive growth of more than 150%. They estimate that the average cost to a small business is £9,000 a year to recover past due invoices. More than one-third of SME’s wait for payment over two months beyond terms. This cash flow constraint
Our 778 B2B clients come from 97 different trade sectors, and the number with or without credit insurance is similar, reflecting that we support six credit insurance underwriters. 83% of debts placed are for UK debtors, 17% for international debtors, covering 158 countries worldwide. We recovered three-quarters of all foreign monies collected from the UK, saving clients the extra cost
Collaborating with 103 universities, 52 colleges, and 5 student accommodation providers, STA recovered nearly £17M of unpaid tuition and accommodation fees from students in 143 countries worldwide in 2018. 86% of all international monies recovered came from STAs efforts in the UK, saving clients the added cost and time of using overseas agents. China, India, Nigeria, and the USA headed
Our university client referred a UK commercial debt for £176,000 comprising invoices up to 16 months past due. After five weeks negotiation, we recovered £198,000 being the £176,000 principal sum, £13,000 collection costs, and £9,000 interest. Our client received £185,000, being the principal sum and interest, and their debtor paid our collection costs. A great example of the Late Payment
STA International is delighted to announce that trade credit insurance underwriter Tokio Marine HCC (TMHCC) appoints us to support its policyholders recover overdue international invoices. Tokio Marine HCC is a leading specialty insurance group with offices in the United States, the United Kingdom, Spain and Ireland, transacting business in approximately 180 countries and underwriting more than 100 classes of speciality
The Summer season of University Discussion Forums take place in June, beginning in Birmingham on Tuesday 19th; Manchester on Thursday 21st; London on Tuesday 26th and Cheltenham on Thursday 28th. Now in their 11th year, 999 delegates from 84 Universities attended the 47 forums to date, sharing their experiences, knowledge, and challenges with others doing similar jobs in Higher Education.
STA is delighted to announce satisfying the British Standards Institute surveillance and retaining its ISO9001:2015 accreditation. It applies to debt collection, confidential credit control, and tracing. The assessment objective, scope, and criteria: The objective of the assessment was to conduct a surveillance assessment and look for positive evidence to verify that elements of the scope of certification and the requirements
The British Security Industry Association (BSIA) has appointed STA preferred supplier of debt collection services for its members. BSIA is the trade association for the professional security industry in the UK. Its members are responsible for more than 70% of privately provided UK security products and services (by turnover) including the manufacture, distribution and installation of electronic and physical security
Our ever-popular University Discussion Forums are back this autumn: with Birmingham added to the usual three locations of Cheltenham, London, and Manchester. Hosted at fine venues, credit controllers, treasury managers, SLC co-ordinators, and finance contacts in HEIs join us to debate the challenges of the day. Should you wish to learn more, or perhaps even attend, please look here for
When will the Protocol apply? The Protocol applies to ‘any business (including sole traders and public bodies) claiming payment of a debt from an individual (including a sole trader).’ It does not apply to business-to-business debts. Aims The Protocol’s aims are: • to encourage early engagement between the parties; • to enable the parties to resolve the matter without
The Chartered Institute of Credit Management has shortlisted STA International for the British Credit Awards. STA is a finalist in the Third Party Debt Collection Team of the Year for its work on behalf of its 92 University clients. The winner is announced on Tuesday 7 February at the spectacular awards ceremony at London’s Lancaster Hotel.
STA International achieves FCA authorisation to collect debt regulated under the Consumer Credit Act – reference number 705183. As an authorised firm STA must meet a number of ongoing requirements to ensure continued compliance with the FCA Handbook. Colin Thomas, Managing Director, said: “We always strive to have a professional and compliant approach to our business, and our authorisation will
STA International is pleased to announce a partnership with Finalysis, who provide a full range of treasury and banking services to Higher & Further Education Institutions. STA will now be able to offer Finalysis’s services to its existing client base, allowing clients to obtain advice on cost benefits/ savings and raising project finance. With £6M of cost benefits/ savings and