Small Business Collections

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. […]

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 […]

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. […]

By Greg:

Is it me, or did this summer fly by?

I was blindsided the other day by my wife and daughter going school shopping.  I mean, already?  It never ceases to amaze me how quickly the summer goes by.  You can easily become overwhelmed by all the yardwork projects you haven’t started and all the fun family activities you talked about all winter but have not done yet.  Summer starts and you think you have all the time in the world to do these things.  Then, of course, reality sets in.

I have learned (that is, my wife has said to me a million times) that you must plan, or things will not get done.

We speak to business owners and other decision-makers all the time when it comes to debt collections and there is one question they ask repeatedly.

Are there any warning signs a customer is not going to pay?

And the answer is a definitive yes!

There are unquestionably signs that a customer is not going to pay and we have assembled these below. And while that is not always the case, our experts have found these are the more apparent signs of a customer not paying you in the future. You may have customers that are just disorganized at home which includes paying their bills but it’s important to keep an eye out for these warning signs.

If your business […]

Deciding to use a debt collection agency can be a big step for a business. Many business owners and other decision-makers have a number of questions they want answered before deciding to take that next step with an accounts receivable program.

They want to know that they made the best decision possible for their organization. Of course getting late and non-paying customers to the table is a top concern, there can be other concerns that a business of any size wants to address before taking the next step in debt collections.

Here are some common concerns a business may have regarding using a debt collection agency and how a reputable agency can assist in these areas.

Will we […]