5 Reasons to Hire a Collection Agency to Manage Your Accounts Receivable
Collecting money from your clients/patients/customers can be challenging. No one wants to pick up the phone and bug someone about payment that should have to come in two months ago.
Still, many companies are reluctant to hire an agency to manage their debt recovery. Here are five reasons to reconsider:
- Spend less. A collection agency can often get your money for you for less money than hiring your own staff.
- Collect more. A trained team of collectors can improve your success rate, systematically managing your overdue accounts to bring in payment.
- Stay up to date. Federal regulations and laws surrounding collection are confusing and constantly changing. Our job is to make sure we know what we can legally and ethically do, and what we cannot. We can avoid legal tangles that might tie up your staff and keep them from collecting.
- Focused team. Your team members may have other aspects of their job. Our team is at your service, trained and dedicated to getting your accounts receivable so your cash flow continues.
- Technology. You may use different types of technology to help you collect on unpaid accounts. But some forms of technology aren’t financially viable for companies with only a handful of debtors. This is what we do, which means we invest in the best technology to effectively manage and reduce your outstanding A/R.
If hiring a collection agency still isn’t the right choice for your company, you can at least benefit from our experience. Get our free ebook: 7 Top Secrets — How to Avoid Costly A/R Mistakes and Get Paid Fast.