Businesses and individuals can benefit from outsourcing their debt collection to registered debt collectors.
Below we share just a few of these benefits.
The duty of a sales person is often not restricted to just sales – in many companies sales consultants only receive their full commission once the full amount of the sale is received. This forces sales consultants to spend some of their time working in an accounting role and chasing clients for payment.
Not only is this confusing for staff and clients, it may very well lead to the deterioration of your business’ relationship with its clients.
Additionally, every minute spent attempting to collect is a minute spent not generating future income.
Instead of wasting valuable time, outsource your debt collection to Able Tracers and Debt Collectors. Our team work tirelessly around the clock to ensure the debt owed to you or your business is paid.
The cost of acquiring new clients is often much higher than the cost of retaining existing ones.
Hiring a debt collection agency allows your business to distance itself from a negative role when your existing clients are reluctant to pay.
Often the first notice from a collection agency is enough to mobilise customers into action, while allowing their relationship with your business to remain pleasant and neutral.
In order to maintain cashflow, businesses often avoid settling their payables for as long as possible – in some cases, it may be until creditors demand payment in terms that are stronger than a monthly invoice.
Avoid bad debtors by outsourcing your debt collection. Not only will we send a Letter of Demand, but we will work through each matter to its fullest as we work on commission.
Often businesses with a high amount of receivables employ their own in-house collection personal. Collections staff are paid a set salary regardless of how much debt is recovered.
This can become problematic as businesses end up paying out far more than they actually receive – resulting in further indebtedness.
Able Tracers and Debt Collectors work on a commission basis – meaning if no debt is collected then no fee is charged. This saves your business on the expense of a paid employee.
When applying for credit, banks review balance sheets making it important to have as small an amount of dated receivables as possible, while at the same time extending credit to new and existing customers to fuel growth.
Implementing an early collection policy through a neutral third party collection agency will help keep your company in good financial health for future credit applications, while also maintaining good customer relationships.
The longer a debt is left unpaid, the less likely it is of ever collecting it, and collection from hereon can become costly. Contact us, to find out more about our debt collection services.
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