Blog - Page 13 of 45 - American Profit Recovery

3 effective ways to deal with your late paying customers

While there may be many unknowns when running a small or large business, one thing we know for sure is that late-paying customers and clients are part of operating any size business. If you have clients, there will be a percentage of them that will either pay late or in some cases not pay at all.

Before we get into some of our tips for dealing with customers that do not pay, we would love to offer you some sound advice as you navigate this part of your business. And before hiring a collection agency, you should get comfortable with a few things.

One of the first things that should come to mind is that this is […]

David Greenwood2021-07-03T17:23:06-04:00July 5th, 2021|Categories: Small Business Collections|

Effective debt collections acknowledges unique consumer challenges

As the light the end of the metaphorical-pandemic tunnel gets brighter, creditors may be questioning whether sending consumers to collections is appropriate. Considering the financial hardships people have endured throughout the pandemic, it is a legitimate concern. Many consumers were laid off, some were forced to work lesser hours, and other people’s jobs were eliminated permanently. Even though vaccines are being distributed, and some benefits have been received, it will take many consumers a while to get back to where they were financially before the pandemic.

Our message to creditors is simple. Absolutely send those consumers to collections. Why? Because it is not a punishment to do so.

Many consumers who fall behind in their bills are […]

David Greenwood2021-06-15T07:58:50-04:00June 15th, 2021|Categories: Small Business Collections|

5 ways to improve cash flow in your veterinary practice

Running a veterinarian practice can be so rewarding, especially if you love animals. In fact, we don’t know anybody in the field of veterinary medicine that doesn’t absolutely love helping family pets. After all, that’s why they got into this field.

However, running a practice is like operating any other type of business, because it is a business, and it needs to make money and have positive cash flow. No positive cash flow means you can’t help the pets and animals that you love.

We serve many in the field of veterinarian medicine and we work closely to help them build up their practice through effective collections and cash flow management. Our experts offer a few tips […]

David Greenwood2021-08-02T14:33:19-04:00June 4th, 2021|Categories: Veterinarian Collections|

Cash flow and customers-How fuel dealers build better cash flow

If you are in the oil delivery business or are a propane retailer, then you know the challenges of cash flow. In many areas of the country, your business can be seasonal and your ability to manage cash flow is very important to be able to get through the year.

We have been working with fuel dealers for many years here and understand some of the financial challenges that many in this industry face. Our experts here offer the following tips to help you manage cash flow and get customers to get current on their financial obligations to your business. […]

David Greenwood2021-06-02T09:36:10-04:00June 2nd, 2021|Categories: Fuel Dealer Collections|

Is your consulting firm losing cash flow? 4 tips to get back on track

If you are running a professional services firm or a consulting agency, we know that you are working closely with your clients and have far more interaction than other industries. This can include law firms, management consulting firms, marketing agencies, and others.

Because you are constantly working on behalf of these clients, you’ve also built a working relationship. This might not be like other industries we serve such as lawn care professionals where the lawn is serviced, and a bill is sent. In many cases, you may never see the customer. But as consultants, you see your clients all the time.

That’s why when they owe you money, it’s imperative that you handle it properly.

David Greenwood2021-05-25T10:46:59-04:00May 28th, 2021|Categories: Professional Services Collections|

Lowering the stress level in your small business

While running any type of small business can be stressful and cause business owners some type of anxiety, this past year during the coronavirus pandemic has caused more business owners and small business operators some of the hardest stress we have all seen in recent times.

We worry about small business cash flow, hiring, and firing, regulations, permitting, community relations and so much more. We worry about reputation, various crises in our business and we agonize about bringing home enough money for our families. And of course, every industry has its own unique challenges.

If you are running a small business, then you know it can be stressful. But it can also be a rewarding experience if […]

David Greenwood2021-05-25T10:12:40-04:00May 25th, 2021|Categories: Small Business Collections|

Culture in the Workplace-Vital to this Collection Agency

By Sabrine:

We have all heard others mention the significance of looking forward to work every morning, rather than dreading it. A positive work environment and culture is the very thing that can make or break an employee. Studies have shown that although employees make a decent salary at a company, they often quit for no reason other than the work culture.

If an employee is in a toxic work environment where they feel isolated, micromanaged, or ignored—it can easily cause burnout. This can affect a worker’s job performance as well as their attitude with customers they work with daily. It not only affects that employee, but it also leaves a negative mark on the company.

David Greenwood2021-05-19T07:54:18-04:00May 19th, 2021|Categories: Team APR|

How to send a debt to collections

Sending a customer to collections can be a big step for a small business. You have spent hours cultivating new customers in your community and you don’t want to lose any business. You have a great reputation for service among your current customers and most of them are paying you on time.

But there comes a time in any size business when customers are not going to pay, and you need to implement a strategy if you are going to recover that money. Depending on the type of business you are operating you may have a regular need for debt collections, or you may just have a few accounts that have been lagging in payments.

We are […]

David Greenwood2021-04-09T10:05:47-04:00April 13th, 2021|Categories: Advice for Businesses|

Debt collection ensures proper access to consumer credit

The debt collection industry is a necessary component of the US economy. Professional collectors provide a critical service to both small businesses as well as nationwide organizations in helping them secure late payments from customers. Without third-party assistance to secure back payments, many organizations would struggle on several levels.

While many consumers are not thrilled to be on the receiving end of a communication for late payment, what is important to understand is that completing their obligations to the business they secured services from is vital to the overall economy as well as the health of that business. They both work hand in hand.

Part of our economic machine here in this country is proper access to […]

David Greenwood2021-04-09T09:55:30-04:00April 9th, 2021|Categories: Advice for Businesses|

These 3 tips will help your business get paid faster

Every business wants to get paid faster.

In fact, a business or medical practice NEEDS to get paid sooner. Late payments can do all types of damage to a business. It hurts cash flow, delays your own payments on bills, and costs you money in the long run. Late-paying customers can create untold amounts of stress on a business and can even cause those consumers to go elsewhere because they have not paid you. Embarrassed and unwilling to come to the table, they go find another provider.

Over time, late and non-paying customers can take their toll on a business. So it is imperative your operation gets a firm grip on your receivables and has effective strategies […]

David Greenwood2021-04-01T16:15:58-04:00April 5th, 2021|Categories: Advice for Businesses|

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