Moneypenny Launches Insolvency Support Line to Help Firms "Cut the Noise" During Process | CFO Dive

ATLANTA (March 2023) – Outsourced communications provider Moneypenny has launched a new Insolvency Support Line, designed to help professionals concentrate on proceedings that typically trigger hundreds of calls from concerned suppliers and customers.

Intended to manage high call volumes following administrative announcements such as restructurings, the Insolvency Support Line aims to minimize disruptions for time-poor in-house teams, which often face elevated pressure during such periods. An average small business insolvency typically receives 50 to 60 calls in the first two weeks after an announcement, while more prominent brands and cases can receive hundreds of calls.

“The barrage of calls that typically follows administrative announcements takes teams away from the actual process,” said Eric Schurke, VP of Sales at Moneypenny North America. “It doesn’t make sense for a firm’s specialists to be bogged down fielding calls from vendors that are worried about receiving payment or orders when it can be outsourced. With staff shortages affecting all sectors and insolvencies predicted to rise, this is a timely and flexible solution that adds operational capacity, cuts the noise, and ensures calls are answered.”

Moneypenny’s service ensures all calls are answered promptly and professionally through a dedicated number, a fully automated and customizable menu, and specialized financial receptionists who are briefed on case requirements and frequently asked questions to keep callers informed. The launch builds on Moneypenny’s existing offering of specialist call handling, live chat, and outbound support for accounting and financial businesses.

Available in six- and 12-month contract options, the Insolvency Support Line can be set up in just 48 hours. The company provides call and live chat solutions to hundreds of financial services businesses and is trusted by many top US firms.