Canadian Accounts Receivables Management Services |
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First and foremost we guarantee the credit worthiness of your customers and virtually become your credit and collection department for all sales that you make on credit terms. It's a fact of life that you must extend credit to your customers. But deciding who to give it to, and how much, can be risky business. You want information. You want it accurate. And you want it fast. Most likely, Accord already has the information you're looking for. Your decision is made - just like that. In fact, well over 90% of your credit requests are turned around within twenty-four hours. But for those times when you need to make an immediate decision, Accord can usually give you the answer you need within minutes. Either way you get risk-free credit protection, guaranteed. Domestically, our main areas of expertise are apparel, textiles, footwear and other "soft goods" industries. Internationally, we handle a wide variety of industries in more than 60 other countries around the globe. Finally, our sophisticated accounts receivable ledgering system keeps information flowing smoothly to you. FactView incorporates state of the art Internet access and security.
CANADIAN DOMESTIC ACCOUNTS RECEIVABLES MANAGEMENT Accord is the largest and oldest business of its kind in Canada, with full service offices in both Toronto and Montreal. That means an abundance of current credit information that we can put to work for you. For decades, we've been providing risk-free accounts receivable credit guarantees to our domestic clients, while relieving them of credit investigations, record- keeping problems and collection hassles. We're here to eliminate risks, preserve your capital, protect your line of credit at the bank, and save time and money. With Accord, you always know whom you are dealing with. You can rest assured, confident that we are taking care of your business and your customers. As one of our long-term clients likes to say, with Accord, we "just ship and sleep". We train our credit and collection staff to be professional and courteous and we have ample bilingual capability. We ledger your accounts receivable and send statements to your customers. We reconcile your customers' payments and also notify you of any claims or disputes. Not only are cash reports sent to you daily, but through our Internet product FactView, a summary of all customer transactions is readily available on-line. CANADIAN EXPORTS TO THE U.S. RECEIVABLES MANAGEMENT Accord has handled U.S. receivables for many years. Our clients trust us to do it well. And we've earned a reputation for doing it better, faster, and often cheaper than they can do it for themselves. If you're a Canadian company selling to the U.S., we can help. Managing and staffing a receivables department for your U.S. sales may seem like a good idea, but it can really be a waste of your valuable assets. Business is different down there. If you don't know the territory, getting the kind of reliable information you need to make the right credit decisions can be difficult at best. And what about collections? You could do all of this yourself, but outsourcing starts to sound like a better idea. Accord provides a comprehensive package of services for U.S. receivables. We guarantee the financial ability of your U.S. customers to pay. Our credit approvals are for 100% of the amount given - and there are no deductibles. We also take care of your customer collections. Your customers' cheques are sent to our U.S. branch, which allows for faster cheque clearing and eliminates postage hassles for your U.S. customers. And all of your U.S. transactions are immediately accessible to you through our secure online product, FactView. Aside from handling your credit coverage and collections, we'll also take care of sending your customer statements. How easy is that? INTERNATIONAL EXPORT ACCOUNTS RECEIVABLES If you're a Canadian company shipping abroad, Accord makes it easy. Managing your credit and collection services in other countries seems difficult. There's the language barrier, currency exchange, and cultural and business differences - not to mention the time zones. And to be competitive in other countries, it's important to sell on the same terms as you would here at home. Letters of credit for repeat business are cumbersome and impractical. Open account delivery is best for your customers. We're here to help. Accord has been in the export service business since 1983, and we're the oldest Canadian member of Factors Chain International, the world's largest association of its kind. This powerful alliance helps Accord to reliably service your receivables nearly anywhere you ship. Our international credit department only handles overseas business. And we're linked by EDI to over 230 A/R service providers in more than 65 countries around the globe, who have in-depth knowledge of local businesses and business practices. Accord's export services are an efficient and effective way to ship repeat orders. Paperwork is minimized, your customers' bank lines remain open and everything goes a whole lot smoother. That means expanded sales, greater control and increased productivity. Your overseas customers are happy. And you're protected. EXPORTEASE ExportEase is a turnkey service that gives Canadian exporters all inclusive receivables insurance, reporting and management at a bottom-line price. It's a totally unique and powerful package, combining EDC's (Export Development Canada's) proven ability to provide superior insurance coverage and Accord's proven ability to manage receivables. Here's how it works. You sign up with Accord for the service. EDC insures 90% of your receivables against non-payment by your U.S. and international buyers, and Accord handles all the administration involved in keeping your account in good standing-from credit checks to collecting your money. Accord does all the work -- and we take all the risk. If it should ever happen that we make a mistake and EDC denies a loss claim, you still get paid! Plus, the entire service costs only a little bit more than straight credit insurance. That's the kind of double protection that can mean a world of difference to your business. ACCOUNTS RECEIVABLES MANAGEMENT TESTIMONIALS Is Accord right for me? If you are an importer, manufacturer or distributor, with annual sales volumes between $500,000 and $50 million, and selling to commercial businesses, then Accord is the right company for your needs. Our clients represent a wide variety of industries. Many of our Canadian and U.S.-based clients are involved in the apparel, footwear, and home furnishings industries, while our international clients cover a broad range of industry groups.
Jaytex Group is a leading supplier of branded apparel products throughout Canada, and has been an Accord client for more than 25 years. Their brands include North Forty Four, Tommy Bahama, Kenneth Cole, Ben Sherman and J Lo to name a few. "However", says Eric Grundy, their president, "about ten years ago we switched our business to another service provider. Our company was growing, and we were enticed by a lower rate. Soon after leaving Accord, it was evident that the service level and the attention to detail of the competitor just wasn't the same." "In addition, we came to appreciate that Accord's reporting was simple and easy to understand. After a relatively short absence, we went back to Accord and we've been there ever since. I might also add that we've been dealing with the same management people at Accord over our 25 year association -- a testament to their consistency and professionalism."
The demand from Asian suppliers has seen a sharp increase in the need for accounts receivable coverage. Credit Service providers like Accord are now present in many emerging markets, like mainland China, and we're linked by a common data system used for international transactions. We work together with overseas service providers and their clients to provide them with credit coverage on Canadian and US buyers. A short time ago, Bank of Communications, the fifth largest bank in mainland China needed our help. They had the chance to get the business of a very large manufacturer of LCD televisions and computer monitors selling into North America. Accord already had the operational framework in place to handle the business. As a member of FCI for over twenty years, we had a hand in the development of the various systems and procedures, so we were thoroughly familiar and seasoned in using them. Accord was able to provide credit guarantees over US$18million on a major North American electronics retailer. "Accord was instrumental in helping us get this account. In addition, Accord does an excellent job collecting on our behalf, maintaining our account clearly, and remitting the funds collected to us on a timely basis." TECHNOLOGY Fast, safe, secure management of your information is critical to Accord's entire business. Simple, fast and easy to use, FactView our online client access system is accessible 24/7 and fully backed by trained, knowledgeable, bilingual technical support. Access the information you need - when, and how, you need it. Our extensive infrastructure and monitoring processes maximize our ability to track data internally as well as to and from your customers, so information is current, complete and protected, while our flexible systems and skilled technical resources allow us to meet your customized integration and reporting requests. We make it easy. Our comprehensive EDI system uses ANSI, EDIFACT or your own proprietary formats to interface with your software packages. When you input credit requests you can receive automatic credit decisions and immediate decision notification. Choose to receive your reports by fax, email or print. FactView also allows third party recipient selection for your reports. And we do more. The FactView Toolkit allows you to sort and filter transactions to help manage your business. Need more? We're here for you. ACCOUNTS RECEIVABLES MANAGEMENT NEWS We are committed to serving our clients, our staff, our community and our industry fully, with respect and understanding. It has made us what we are today, and is the foundation that allows us to grow and meet new challenges in a changing world. Here are some recent highlights: Accord changes its corporate name from Accord Business Credit Inc. to Accord Financial Ltd. Click here to see the attached press release. Accord once again renewed its support for TEAM HARRY ROSEN in for Harry's Spring Run-off to Fight Prostate Cancer. Proceeds of this charity event are for the benefit of the Princess Margaret Hospital Foundation. Mark Perna, president of Accord Financial Ltd., wrote the Canadian chapter on factoring for the World Factoring Yearbook. The article covers the Canadian factoring landscape as well as the industry environment for the year in review. The World Factoring Yearbook is published by BCR Publishing in the U.K. in association with Factors Chain International. As an industry leader, Accord management has written the majority of these yearly summaries for Canada since the inception of the publication. Mark Perna, president of Accord Financial Ltd., wrote an article entitled "Factoring in Canada" that appeared in the July/August 2007 Canadian Apparel magazine. |
