When it comes to collections, we know why it happens. You want to save money. You don’t want the majority of those slow pay accounts to be eaten up in agency fees. Just get the staff on it, right? They spend a little time on it each day, get the money back, no problem! –Actually, this is a big problem in the making. Consider these two perspectives on collections:
Internal Man Hours:
- Training: Your staff are experts in their area of focus, but asking them to step into a collections role is a highly specialized, highly regulated field. The training alone your staff needs just to avoid a lawsuit is significant.
- Alienation: Putting your team in the position of collecting AND servicing the customer is a dangerous line to tow. Blurring that line could cause irrevocable damage to an already tenuous relationship.
- Time = Money: Taking employees out of their professional rhythm is a literal drain on profits. They can become distracted or overwhelmed by the additional tasks, and not only are they less effective in retrieving those unpaid funds, they are not working toward their main duties for your company!
External Man Power:
- Expertise: Third party collections is an art and a science! Knowing the ins and outs of the law, as well as the industry-leading methods for guaranteed results is our calling.
- Customer Service: The ultimate goal is to collect the money AND keep the client. That’s why separation between your staff and the client, as well as enlisting a third party with non-alienation expertise, is such a successful formula.
- Cost Savings: Our unique approach to collections allows us to charge a fixed fee, typically less than 10%. This allows you to leave the accounts receivable management to the experts while resting easy on the total investment.
It’s amazing what you can accomplish when your business is economically able to focus on its primary objectives, while having the peace of mind knowing that your slow pay accounts are being handled. Consider the results that External Man Power can add to your company this year.
TekCollect provides the most advanced accounts receivable, collections, and client retention services available. To learn more about us, visit our website and follow us on Facebook and Twitter.