One business is drawing on its own experiences to help others recover lost revenue, without having to pay costly legal fees.
The need to collect revenue owed to your business has never been more crucial, especially following the pandemic.
Every organisation has terms and conditions for a reason. But where do you turn when a contractual agreement is broken, resulting in a loss of revenue to your business?
Leading Alternative Dispute Resolution (ADR) service provider, PreAction tells NationalWorld there are other routes a business can take before resorting to legal action – which often produces more favourable results for both parties.
The Alternative Dispute Resolution process enables your business to resolve a dispute you may be having with another organisation or entity, without having to go to court.
As many as 64% of disputes have been settled without the need for litigation saving both time, resources and expense for both parties involved.
PreAction’s Settlement On Success (SOS) ethos enables a no-lose situation for clients, only taking a fee once a settlement has been achieved.
PreAction founder and director, Sean Heavisides found that the closure of his energy consultancy business during the pandemic highlighted the lack of action and urgency towards breached contracts and lost revenues, playing a vital role in the business becoming insolvent.
He said: “We wished we had looked at these things sooner. We reluctantly absorbed financial losses until it just wasn’t possible to do so anymore.”
Sean added: “If our previous practices had been tighter, the result would more than likely have been different. The pandemic served as a spotlight on the gaps in our processes.”
What our clients say
Great Annual Savings Group CEO Brad Groves said: “Until our interactions with PreAction, we had never quite found an effective way to mitigate the losses we had suffered.
“PreAction is now a valuable partner of ours. We could not recommend them highly enough to other organisations offering brokerage services but also for any contractual dispute issues they may experience.”
Calling on the expertise of their in-house counsel specialising in commercial disputes, PreAction continues to encourage engagement and communication with the parties involved.
The benefit of in-house counsel allows PreAction to deal with issues firsthand, successfully avoiding the additional cost and resource that court proceedings can bring.
Settling commercial disputes outside of court – What’s the verdict?
PreAction affirms that its services have never been more crucial and needed in the post-pandemic world.