Accounts Receivables

A business like yours likely has one goal when hiring a collection agency: to collect money from customers who pay late or have not paid at all.

You may also want to work with a collection agency because you do not have the internal resources or the time to chase past-due invoices, and it is time-consuming.

But another goal your business should remember is how a collection agency can help you retain your customers. Just because a customer hasn’t paid you, pays late or there’s a dispute, there are still ways to keep that customer.

There are also significant benefits to ensuring that you can keep your customers and the relationship intact after the debt collection process.

Check out […]

If you operate any type of business, you’ll have people who do not pay you.

Late and non-paying consumers are not exclusive to any size business, either. Large organizations and small businesses struggle to get customers to pay sometimes. That’s part of being in business.

However, not every reason for non-payment is the same. Many consumers have legitimate reasons for not paying their bills and struggle to meet their own financial obligations.

And at the same time, you may have consumers that can pay but won’t.

Let’s take a look at some of the legitimate reasons people are not paying you, and some not so reasonable reasons why you haven’t received payment. […]

Late and non-paying customers can be emotionally draining for your small business. Whether you’re operating a lawn care company, veterinarian practice, heating and air conditioning business, or any other small operation, having customers who don’t pay on time is just part of being in business.

While large organizations have their share of the same challenge, your small business can feel the pain of customers not paying far deeper. And if you’re a small business operating in a smaller community and you get to know many of your customers, this challenge is even more difficult.

Many small businesses come to us for help with their receivables and we can feel the emotions brewing inside them. They’re frustrated, baffled […]

We see it all too often. Businesses have a pile of outstanding invoices. They are not getting paid, and the business waits far too long to get serious about getting those customers to keep up with their payments.

Maybe they don’t have the systems in place to get late customers to pay or they may not want to upset their customers by implementing collection activity. But waiting too long to bring your customers to the table is a recipe for negative cash flow. Which can have long-lasting consequences.

Implementing early intervention is a far better strategy that is helping small businesses get paid.

Implementing systematic follow-ups and debt collection activity early in a delinquency is vital to the […]

Utilizing a reputable collection agency for your all business or larger organization is one of the best ways to dramatically improve cash flow.

And, it’s also a strategic tool in retaining your customers even if they do owe you money.

Professionally trained debt collectors understand how to listen, show empathy, understand individual situations and take the time to solve problems with consumers. If your customers are facing financial difficulty, a debt collector can actually help your customer navigate the complexities of being in debt.

Want to know more about how a collection agency can actually help your business keep customers? Check out some of the reasons below. […]

If you’re running any type of business, negative cash flow does not just happen. There are always red flags of negative cash flow that give you an indication of a problem within your organization.

Negative cash flow can rapidly disrupt a small business’s operations. Many businesses struggle to keep a consistent client base and have slim margins, which means it’s important to keep a close eye on cash flow.

Check out our tips on recognizing the red flags of negative cash flow and when to seek professional resources to correct the situation. […]