With the cost of customer acquisition growing and competition everywhere, you need to have your customers pay you on time and retain your slow paying customers.
Let’s ask a few hard questions:
- Do you have a growing business that extends credit to your customers?
- Is it more difficult to find the time to collect your past due accounts?
- Do you want to try to retain your customers and have them pay their past-due balance?
- Are your receivables growing along with your business?
Growing businesses that extend credit to their clients need to have a solid plan to manage those accounts as they enter your funnel. We can help you with this vital process. Most people dislike contacting their customers who are past due. It can be confrontational and personal, but it must be done! No 2 ways about it. You need to spend your time finding new and more profitable customers. Let me help you with your credit and collection in your business. I have worked at 4 different collection agencies and owned 3 collection agencies over the last 26 years. I can evaluate what you are currently doing and see where we can make changes to improve your receivables and reduce the cost of collections. I can help you keep your collections in-house and reduce the amount of bad debt you have each year saving you thousands annually. It may be as simple as establishing a new system to keep those accounts in check. Let us schedule a call and see if I can help you.
It could be as simple a few tweaks in what you are doing now all the way to establishing a new account receivable department and staff. I will work with your business until your staff is fully trained on all aspects of the collection of your receivables. We will establish your company with memberships to credit bureaus and other collection tools you will need. Your staff will know how to read credit applications, review credit reports, create collection letters that get a high response rate and develop effective telephone scripts (unique for your business and industry). We will review all facets of your business from the onboarding of a new client you are extending credit to all the way to establishing a policy of how you refer the cases to an outside collection agency. go over what you are doing now and find some ways to improve your bad debt. We will review your credit applications to make sure you are secure in collecting the debt in the event you need to send the account(s) to a collection agency or send to a lawyer for legal action.
I can take what internal process you currently have for your collection and improve your recovery rate.
We will establish new credit policy’s. We will write past due letters to try to keep the client and work with them. We know it can cost you hundreds or We will have your customers fill out credit applications with personal guarantees. We will check their references and other trade lines to establish your new clients are worthy for you to grant them terms. We will rewrite your collection letters.
We can start with a free in-person meeting or virtual meeting to discuss your business needs. Click on my calendar to Schedule Time With Me (lower right of your screen).