Advice for Businesses Archives - Page 4 of 20

Do not put off hiring a collection agency this year

Our economy is changing, and you need to be ready!

If your business has thought about hiring a collection agency to improve cash flow, but has never made a firm decision, you’ll want to listen up. Economic conditions are changing rapidly, and your ability to weather the shifting conditions could rely on just a few basic principles and techniques in your business. If you don’t get ahead of the moving economic landscape that is taking shape in our country, you will look back and wish you decided much sooner.

As the economy continues to change, here are several issues your organization needs to consider to stay healthy and maintain positive cashflow. […]

David Greenwood2022-07-26T07:36:16-04:00July 21st, 2022|Categories: Accounts Receivables, Advice for Businesses, Small Business Collections|

4 little known benefits of using a debt collection agency

When running any type of business, you are obviously dealing with clients and customers who ultimately need to pay you for your goods and services. But we all know that there are a certain percentage of your customer’s over time that will drag out payments, not pay you at all, or run into circumstances where they lose the ability to meet their financial obligations.

Many businesses have the best of payment terms and expectations, but there are always circumstances that arise with certain customers that you’ll need to address when it comes to getting paid on time.

Most people understand the basic concept of a collection agency. Customers do not pay, and your business sends those accounts […]

David Greenwood2022-07-19T11:16:30-04:00July 19th, 2022|Categories: Accounts Receivables, Advice for Businesses|

Is your accounts receivable program ready for a new economy?

Consumers as well as the business community have been through a lot during the two-plus years of dealing with the COVID-19 pandemic. Many businesses had to drastically alter the way they conducted business and many as you know all too well were forced to shut down completely temporarily.

Consumers either lost their jobs, had their hours cut back depending on the industry they worked in, or decided to take on new careers. Consumers were also left with a whole host of other challenges including finding the products and services they use frequently and of course meeting their financial obligations.

The effects of the pandemic continue to cause challenges for consumers and the US economy as well as […]

David Greenwood2022-06-16T09:25:10-04:00June 20th, 2022|Categories: Accounts Receivables, Advice for Businesses|

The best debt collection agencies-what do they have in common?

Choosing a third-party collection agency Is a big step for some businesses. The business needs the cash flow, and is frustrated customers are paying late or in some cases not paying at all, but need a solution. Many businesses have tried various tactics and strategies using internal resources, but there comes a time when you need to seek outside help for collections.

That company is going to be representing you whether in written form or through phone communications with your customers so it’s important that you as a business choose wisely.

If your organization is currently looking to hire a debt collection agency, there are several things the best agencies in the industry do and do well. […]

David Greenwood2022-07-05T10:43:35-04:00May 31st, 2022|Categories: Advice for Businesses, Small Business Collections|

Top 5 reasons your customers are not paying you on time

Did you ever wonder why your customers are not paying you on time? It’s one of the more frustrating aspects of running any size business. Customers contact your business, you provide the service that you promised and then in some cases, you’re left to chase that customer for the money they owe you.

And because you have other customers to serve, and a whole host of other obligations to run your business adequately, you and your staff now must expend time and other resources to get that customer to pay.

Your accounts receivable process is just part of running a business of any size. Customers are going to pay on time, some are going to pay late, […]

David Greenwood2022-03-15T09:51:27-04:00March 4th, 2022|Categories: Accounts Receivables, Advice for Businesses, Small Business Collections|

Ask yourself these 5 questions before starting collection activity

Before sending any customer to a debt collection agency, it’s important for a business of any size to conduct its due diligence to try and resolve that matter. Having an established relationship with a reputable collection agency is an important part of your overall accounts receivable program. But it is critical for your business to understand how a customer got to the point of collection activity before implementation.

You and your staff should be able to answer the following questions before a customer is put into collections. And this is also a great guide for your business as you clean up your accounts receivable systems. […]

David Greenwood2022-03-15T09:52:58-04:00March 2nd, 2022|Categories: Accounts Receivables, Advice for Businesses, Small Business Collections|

What our debt collection team wants you to know

We have assembled a fantastic group of professionals here and we believe we have some of the best debt collectors in the country. And it didn’t happen by accident. We have been able to put together this team for several reasons and because of this, both the businesses we serve and the consumers we speak with every day benefit from this well-trained and dedicated team.

The job of a debt collector not only requires ongoing and professional training as well as knowledge of current laws but it is also beneficial when the collector truly cares about the outcome of the current situation they are working on. And that must include making sure the consumer is set […]

David Greenwood2022-02-18T10:45:35-05:00February 21st, 2022|Categories: Accounts Receivables, Advice for Businesses, Team APR|

What are your plans for improving the customer experience in 2022?

There is one thing we have spent an enormous amount of time on here in American Profit Recovery and that is making sure all clients have an enjoyable and productive experience with our team. People compliment us every day when they call our front desk because they can tell the person answering the phone is smiling. You can hear it in their voice.

It doesn’t matter if you come to us for commercial debt collections or medical collections, we want to make sure that your journey with our team Is one that impresses you and resolves your cashflow challenges. Our people are committed to helping your business and they do it with a smile on their […]

David Greenwood2021-12-21T13:14:37-05:00December 27th, 2021|Categories: Advice for Businesses|

Debt collections in 2022-important factors to be aware of

Improving your cash flow and understanding how debt collections fit into your business should be an important part of how you operate in 2022. If you continue to struggle with customers not paying you and you feel you have an ongoing need for debt collections, you’ll want to consider how collection activity around your accounts receivable process will fit into the coming year.

This past year has seen numerous changes for businesses. From a change in customer behavior, the way we work as a result of the pandemic as well as fluid changes in regulations posed on businesses, it’s always a good idea to stay up to date on how to keep cash flow positive, […]

David Greenwood2021-12-21T13:04:13-05:00December 21st, 2021|Categories: Advice for Businesses, Collection Industry News|

Businesses must focus more on debt collections in 2022

It should be no secret to anyone owning or running a business. It is slowly getting more expensive to operate a profitable business and it is not getting any less costly. Costs associated with just about everything on your expense sheet have gone up during the past 12 months.

And as you’ve also seen, the pandemic caused many people to spend more money. We have seen this mostly in the form of home improvements as well as other items to make working and living at home more enjoyable. While statistics have shown that people have saved more recently, they have also been willing to purchase more.

Financial stress is a real thing, especially for those operating a […]

David Greenwood2021-12-08T07:51:51-05:00December 8th, 2021|Categories: Accounts Receivables, Advice for Businesses, Small Business Collections|

Connect with Us!

Sign up to Receive Updates

Michigan Office

Massachusetts Office