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Credit control app launched at opportune time | AccountingWEB
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Credit control app launched at opportune time

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A Scottish credit control app has emerged offering an integrated approach to pursuing payment. 

2nd Sep 2022
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Hamilton-based debt-recovery specialist Darcey Quigley & Co has moved into the software arena with a three-pronged credit control app called Know-it.

Claiming to break new ground, Know-it founder and CEO Lynne Darcey Quigley said it “brings together all credit control functions into one place”. The first element of the service, Check-it, presents an online credit score compiled from company monitoring data at Graydon UK along with Companies House and information on insolvencies and unsecured debtors. 

The Chase-it module automates reminder emails, letters and text messages to get late-paying customers to agree to pay up. If those tools fail, the user has the option to contact the debt recovery team at Darcey Quigley & Co to collect unpaid invoices for them (aka Collect-it).

Integration with data sources

As well as integrating with credit data sources such as Companies House and Gaydon UK, Know-it plugs into the four main cloud accounting ledger systems (Xero, QuickBooks, Sage and FreeAgent).

The program is currently available on a free 30-day trial, after which the subscription is £49.99/month. This will entitle the user to five credit reports per month, up to 1,000 chasing emails and 10 text messages. The Collect-it option is priced separately.

Ahead of its launch this summer, the company recruited former RBS managing director of business banking Scotland Gordon Merrylees as chief commercial officer in 2021. 

Merrylees was keen to promote data showing that small businesses could not only reduce debtor days and improve cashflow, but boost productivity using apps such as Know-It.

Opportune time

Rival app developers Chaser and Satago might query the ground-breaking nature of the Know-it app, but there’s no question that it reaches the market at an opportune time.

Darcey Quigley commented: “It was not our intention to launch the Know-it platform during the global economic struggle. Yet there is a timely opening for the platform to provide an additional layer of support for vulnerable businesses at a time when they need it most.

“Support from automated and effective credit management systems has traditionally been out of reach until now. We hope this pioneering technology will provide businesses with the comprehensive and holistic solution they need to work smarter at a time when businesses are now turning to technology to help mitigate current financial challenges.” 

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By Hugo Fair
02nd Sep 2022 14:15

This isn't really a "debt-recovery specialist moving into the software arena" is it?

It's a company trying to generate new business 'leads' which thinks it can achieve that by promoting a simple piece of software (which will direct users back to the supplier for all their 'needs').

Fair enough if the software is free (a bit like putting up with the stream of adverts from a free platform) ... but £600 p.a. (for ungenerous limited use)!
Is it April 1st?

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