Moneypenny launches Insolvency Support Line to help firms 'cut the noise'

Moneypenny has launched a new Insolvency Support Line product to help busy practitioners concentrate on insolvency proceedings, rather than answering hundreds of calls from worried suppliers and customers.

Leading provider of audit, tax, and consulting services, RSM UK, is among the first to use the dedicated Insolvency Support Line service, which has been designed to handle high call volumes following administration announcements and minimise disruption for time-poor in-house teams.

An average small business insolvency typically receives 50-60^[1] calls in the first two weeks following an announcement, while high profile insolvencies of well-known high-street brands can receive hundreds of calls during that time.

This new service ensures all calls are answered promptly and professionally with the help of a dedicated telephone number, a fully automated and customisable ‘Press 1...’ menu, and Moneypenny’s specialist finance receptionists, who are briefed with case requirements and frequently asked questions to keep callers informed. The service is available in 6 and 12-month contract options and takes just 48 hours to set up.

Louise Wilson, Moneypenny's Head of Finance Sector, said: “We’ve created this service to remove the burden of trying to manage the barrage of calls that typically follow administration announcements, so that accountancy and insolvency teams can concentrate on processing cases.

“It doesn’t make sense for firms’ specialists to be bogged down fielding calls from those worried about whether they’ll receive payment, or their goods, when it can be outsourced. With staff shortages affecting all sectors and insolvencies predicted to rise this year – this service offers a timely and flexible solution. Firms can build greater capacity into their operations, cut the noise and distraction of constantly ringing phones, and ensure all calls are answered professionally in-person.”

Matthew Foy, Associate Director at audit, tax, and consulting service provider, RSM UK said: “Call volumes can be overwhelming and hugely disruptive in the days following a public announcement. This service allows us to ensure that all caller questions are answered and that investor expectations are managed brilliantly. We can now dedicate more time and energy to completing the administration process itself, knowing that calls, no matter how difficult they may be, are in safe hands. A dedicated phone number also protects the wider caller experience as the switchboard isn’t faced with a deluge of calls.”

This launch builds on Moneypenny’s wider offering of specialist call handling and live chat support for hundreds of accountancy and financial businesses across the UK, including 8 of the Top 20 accounting firms. For more information about how Moneypenny will help your firm, please head here >

[1] Moneypenny’s own in-house data