An Oswestry law firm is highlighting the need for businesses to have proper procedures in place to help reduce bad debts and improve their cash flow.
Liam Holyhead, Lanyon Bowdler’s new debt recovery manager, said it was essential that firms safeguard their interests by performing their due diligence correctly – ensuring they stay on top of their finances and keeping the business on track.
Prior to joining Lanyon Bowdler, Liam worked in housing and leasehold management, specialising in anti-social behaviour, service charge recovery and disrepair, and then debt recovery.
He said: “I am delighted to have joined Lanyon Bowdler and really enjoy my new role. It is always a great feeling when you’re able to achieve a good result for the client, especially when posed with a particularly difficult set of circumstances that involve some problem solving.
“With that in mind, I thoroughly enjoy working within a role that challenges me every day, and enables me to learn, grow and develop as a lawyer and a manager.
“The world has changed substantially since the Covid-19 Pandemic almost four years ago and it’s evident that almost everyone has felt the crunch of the cost of living crisis and rising interest rates.
“In this climate, I would urge businesses to consider their credit control processes and whether they are performing correct due diligence procedures in order to help reduce bad debts and improve their cash flow.
“Having a robust credit control department can aid in mitigating risk to businesses as this greatly assists in getting payments in promptly on a more regular basis.
“My future plans for the department are centred on the development of our staff and ensuring we can continue to provide the best service to our clients. Personally, I am really looking forward to continuing my development with the firm.”
Andrew Pegg, head of Lanyon Bowdler’s dispute resolution team, said: “We are delighted to welcome Liam to the firm – he has already made a significant contribution in the short time he has been here, and we wish him well in his future career with us.”
Liam Holyhead.
