PRMS Ltd provides Ethical Debt Recovery™ & Business Debt Prevention™ services to businesses all over the UK and the rest of the World.
PRMS Ltd is the market leader in Ethical Debt Recovery ™ & Business Debt Prevention™. We look after and support your company with all your processes and structures, all the way from short-term one-off Ethical Debt Recovery™ matters to complete long-term Business Debt Prevention™ projects, for businesses providing Professional Services & SMEs with a turnover up to £50 million . Our goal is to provide integrated, sustainable and profitable solutions for every challenge your business may face.
PRMS Limited was founded in 2002 in order to bring quality cost-effective debt recovery, credit control & cash flow management consultancy to the UK and beyond.
Here is our story so far .....
Back in 2002, PRMS Ltd was launched on an unsuspecting public who had not been aware of the possibility of integrating Ethical Debt Recovery™ & Credit Control services into their business. When we started in 2002 this was 6 years before the financial crash and most businesses were getting paid by their debtors, somewhat later than expected but payment was eventually received.
During that time most businesses were confident in the fact that their businesses were going to grow, but as with all things in life, change was afoot. The Internet had started to show its teeth and Google had started to become an essential verb instead of an obscure noun.
Facebook & Twitter now meant that social media introduced a completely different dynamic to meeting your fellow business people for cheese & wine at the local Chamber of Commerce.
In fact, the biggest change was a thing called Networking. You actually went out to meet with other businesses and dropped your British Reserve and actively sought out alliances and in some cases even won new business. At that point EVERYONE became an entrepreneur; few could spell it but it sounded foreign & exciting and like nouvelle cuisine in the 80’s it became the buzzword on everyone’s lips.
During this time PRMS was finding its feet as a business and developing a varied portfolio of cases and an expanding client base covering a number of disciplines. We decided to concentrate initially on the SMEs as we felt that they required our assistance more urgently.
What we found was a sector of business that had effectively been left to their own devices and many of the new wave entrepreneurs knew how to sell but were unaware that the sale was not a sale until the invoice had been paid.
Eventually news began to travel and after considerable amounts of networking as well as extended forays into social networking on Twitter & LinkedIn we were starting to make headway. At some stage we had to face up to the fact that our business of choice did not have a good reputation.
This was nothing new to us and we were prepared for the resistance that we would obviously face from a business community who understood that “cash was king” but weren’t too happy about implementing that philosophy into their business.
Ethical Debt Recovery was an entirely new concept. Some people called it an oxymoron (we didn’t take it personally) some people felt it was a misnomer but there were others who got the concept straight away and they in turn became clients.
Post-2008 the business landscape looks very different now. We have seen the rise of invoice factoring & invoice discounting as a means of combatting the scourge of late payments and whilst it is a “quick fix” it doesn’t go as far as implementing good Credit Control & Ethical Debt Recovery Systems within your own business.
We have strived to make the whole process of procuring our services as easy as possible and we hope that you continue with us on our journey and you avail yourself of our services whenever the need arises.