Blog - Page 3 of 45 - American Profit Recovery

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|

Time is Money-the true cost of in-house collections

If your organization is burdened with negative cash flow, your ability to keep customers current in their financial obligations becomes mission critical. Approaches to achieving that and getting customers to pay you regularly differ.

Many organizations still rely on in-house debt collection teams as part of their accounts receivable program. While in theory, this may have moderate benefits, relying on internal resources for all your collection activity may ultimately be a negative. The obvious is the cost associated with maintaining those resources internally.

We always advise organizations to conduct proper due diligence with late-paying customers, including regular communication and procedures for following up on late payments. But at some point, those efforts can become ineffective.

If you run […]

David Greenwood2024-03-09T10:23:53-05:00March 11th, 2024|Categories: Accounts Receivables, Advice for Businesses|

6 reasons to build a career in debt collections

Building a career in the debt collection profession can offer so many rewards and benefits for people who are looking for a stable career with growth opportunities. By forging a career in debt collections, you have an opportunity to work in an industry that is not only financially rewarding but gives you tremendous opportunity to help people daily.

The debt collection industry has made dramatic changes in recent years. And all those advancements in the industry have been positive developments. Some may have a negative perception of the industry as a whole, but collectively, there has been an intense effort to improve the experience both of business and consumers have with debt collections.

If you’re ready to […]

David Greenwood2024-03-09T10:15:08-05:00March 9th, 2024|Categories: Team APR, What APR is up to|

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|

Here’s your accounts receivable checklist for the coming year

If your business is at a point where you know you can improve cash flow, there are many things that you can address internally that can advance your chances of better cash flow.

If you’re running a small business, you may be cleaning up your books anyway to hand them off to your CPA for tax season. So why not in the process, take a hard look at your accounts receivable process and make any necessary changes.

Here’s a checklist of must-haves to improve your internal accounts receivable processes for the New Year.

Keep up-to-date information on your customers

The management of your customer information is vital not only to your accounts receivables but also to other areas, such […]

David Greenwood2024-01-03T12:18:40-05:00January 9th, 2024|Categories: Accounts Receivables|

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|

Values and culture make this a great place to build a career

By Delaney:

For the employees at American Profit Recovery, it’s culture above all else! Here, we value positive attitudes, high integrity, and strong work ethics.

From the company as a whole, to the department you work in, right down to the individual team that you are on, you can feel our values pulsing through the veins of APR.

It starts with our hiring process. We recruit only the best, strongest candidates who exemplify these core qualities to make a perfect fit for our team. […]

David Greenwood2023-12-19T11:26:52-05:00December 19th, 2023|Categories: Team APR|

Entering my sixth year at American Profit Recovery

By Sabrine:

I am in awe that I am approaching my sixth year here at American Profit Recovery. As they say, time flies when you’re having fun.

It feels like it was just yesterday that I came in for my interview and met my manager, and contemplated whether or not I was going to give debt collections a try. Little did I know, collections was meant for me.

On a daily basis, I speak to consumers all around the nation and help them find ways to pay their just debts—as mentioned in our collector’s pledge. I get to go home knowing that I was able to relieve some stress off some consumers, as well as our clients for […]

David Greenwood2023-12-11T08:00:48-05:00December 11th, 2023|Categories: Uncategorized|

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|

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