Small Business Collections Archives - Page 2 of 6

Debt collections-your mission critical part of business cash flow

A healthy debt collection process helps businesses of all sizes maintain positive cash flow which is critical for many reasons.

Cash flow is the backbone of any size business and positive cash flow keeps a business healthy and strong. It allows for consistent operations, a healthy bottom line, meeting the needs of your workforce and the confidence to know that you have the resources to grow if needed.

Your business must have positive cash flow!

Let’s go through some of the obvious and not so obvious reasons why debt collections is an integral part of your organization’s cash flow. […]

David Greenwood2024-03-12T10:48:35-04:00March 13th, 2024|Categories: Accounts Receivables, Small Business Collections|

5 ways to keep your customer when they are NOT paying

You want to keep your hard-earned customers. We thought so!

Sometimes as you well know, customers do not pay. But that does not mean you have to lose that customer. In many cases, something has prevented your customer from paying on time or meeting their financial obligations to your business.

While there are obviously disputes that need to be worked out, sometimes a customer just needs a little time and assistance to get caught up with your business.

If you want to keep your customers in good times and difficult situations, check out our 5 tips for keeping them when they have not paid you yet.

Open the lines of communication

If your business is not getting paid by your […]

David Greenwood2024-01-03T12:30:38-05:00January 12th, 2024|Categories: Accounts Receivables, Professional Services Collections, Small Business Collections|

6 critical areas you need to focus on to build more trust with customers

The relationships you build with customers are the lifeblood of your organization, no matter the size. In short, your business will not thrive without solid relationships with customers. It’s just that simple.

Building lasting and trusting relationships with consumers is one of the best ways to see continual growth in your organization. You should not think of your customers as transactional. You should be thinking about how you can serve them for the long term.

Building long-lasting customer relationships is more than just being nice and smiling. It’s about implementing strategies that allow you to build trust over the long haul.

If you’re looking for traditional and non-traditional ways to build lasting customer relationships, check out our tips […]

David Greenwood2024-01-03T12:04:11-05:00January 5th, 2024|Categories: Accounts Receivables, Advice for Businesses, Professional Services Collections, Small Business Collections|

8 proven ways to build your small business profits this coming year

If you’re like many owners and operators of small businesses, you’re looking at the year ahead and trying to figure out how next year can be better than before. While New Year’s resolutions might not work, getting the year off on the right track is time well spent for your small business.

From reviewing the processes and procedures your small business uses regularly, looking at cash flow, invoicing and how you use a debt collection agency, to just some basic goal setting, it’s important to review your small business goals annually.

If you are running a small business and are eager to boost your profits in the coming year, check out our tips for building your small […]

David Greenwood2024-01-03T09:27:09-05:00January 3rd, 2024|Categories: Accounts Receivables, Small Business Collections|

6 questions a business might ask before hiring a debt collection agency

When you’re in the process of hiring a debt collection agency for your organization, there are no doubt many questions on your mind. Hiring a new agency for your business can be a big step because of the important role they play in the overall health of your business.

Generally speaking, many businesses are concerned with how effective their debt collection efforts will be, how their customers will be treated, the protection of data and if the agency has a level of proficiency within their industry. For example, do they understand the intricacies of medical debt collections or debt collections for lawn care companies?

A reputable debt collection agency should have no problem answering some of these […]

David Greenwood2023-11-14T09:56:46-05:00November 17th, 2023|Categories: Accounts Receivables, Small Business Collections|

8 reasons why businesses rely on debt collection agencies

The debt collection industry is a vital part of the US economy. And for many businesses, it is a critical part of the overall accounts receivables process.

Many small businesses and larger organizations rely on the expertise and efforts of third-party collection agencies every day. And for good reason. Collection agencies are recovering substantial amounts of consumer debt and helping those businesses drastically improve much needed cash flow.

The economy is stronger because of collection agencies and businesses of all sizes continue to build a solid financial foundation by partnering with the right collection agency.

Want to know more about why businesses rely so much on professional debt collection agencies? Check out our thoughts here.

David Greenwood2023-12-19T12:26:41-05:00November 14th, 2023|Categories: Accounts Receivables, Small Business Collections|

Sending accounts to collections? Do these first

While many organizations hesitate to implement collection activity, there are an equal amount that may jump into it before they have done their due diligence.

Following solid and systematic accounts receivables processes can help lay the groundwork for successful debt collections when necessary. And it may just help you keep a hard earned customer.

If you want to manage your late invoices and your reputation at the same time, make sure you’re doing the following before proceeding with third party debt collection activity. […]

David Greenwood2023-10-18T09:39:41-04:00October 20th, 2023|Categories: Accounts Receivables, Advice for Businesses, Small Business Collections|

How a B2B Collection Agency Can Work Harmoniously with Clients and Customers

For any size business, maintaining healthy cash flow is essential for survival and growth. For many organizations, managing overdue invoices and recovering outstanding debts can be a challenging and time-consuming task. This is where Business-to-Business (B2B) collection agencies come into play. However, the relationship between a collection agency, its clients, and their customers can be delicate.

These relationships are delicate because in many cases, we are talking about large sums of money. Think about the business of manufacturing or other types of distribution businesses that are filling large orders for clients. When those are not paid or not paid on time, this can present a major challenge for that business.

Let’s explore how a B2B collection agency […]

David Greenwood2023-10-18T09:40:02-04:00October 18th, 2023|Categories: Accounts Receivables, Advice for Businesses, Small Business Collections|

Relating to people is how we get the job done

By Angela:

The past few weeks I have had the pleasure of meeting with many people as I add to my collection team. During this process I have had many conversations, and it was refreshing to remind myself just how much of a difference we are making in the economy.

Of course, I could sit here and talk about this to try and gain sales or to try and have you pay your bill but it’s the opposite.

I’m here because I want to be. Nine years in and I still love the impact I can make on our industry and our clients with their consumers being the top priority. In these interviews I have learned about candidates’ […]

David Greenwood2023-10-06T07:35:01-04:00October 6th, 2023|Categories: Small Business Collections, Team APR|

Don’t wait to collect that unpaid debt-7 reasons why your business is not be getting paid

Many organizations we encounter have waited far too long to implement a solid debt collection program. Because of this, many businesses suffer negative cash flow and these issues could have been prevented by being proactive with their collection activities.

One of the main reasons we see businesses of all sizes hesitate on collection activity is because many feel they will alienate their customers and damage their reputation. Because of this, many organizations lose out on money that is clearly owed to them.

If your business is still hesitating to implement a reputable debt collection program, see the reasons why hesitating can cost your organization untold amounts of money. […]

David Greenwood2023-10-09T08:54:01-04:00September 8th, 2023|Categories: Accounts Receivables, Advice for Businesses, Small Business Collections|

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