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Advice for Businesses

I don’t think my business can afford to use a collection agency-Now what?

Hold on… not so fast!

Before your business decides it’s not a good idea to use a collection agency or you simply cannot afford it, we have a few pieces of advice you should consider before shutting the door on getting third-party help. There is much more to consider before you decide not to use a collection agency to improve your cash flow.

If you have customers that continue to pay late, customers that don’t pay at all or both, check out our reasons to seriously consider getting help from a reputable collection agency. […]

2022-09-15T07:46:45-04:00September 14th, 2022|Categories: Accounts Receivables, Advice for Businesses, Small Business Collections|

Reasons why now is a good time to review your accounts receivables

Your accounts receivables never sleep and it’s always a great time to review your procedures and make any adjustments necessary. After all, the health of your business depends on it.

And as we approach the last quarter of 2022, it’s a smart idea to take a pause and conduct a thorough review of all your accounts receivable procedures including how you handle late and non-paying customers. The economy is changing rapidly as well as the job market and other external factors that we all need to keep a pulse on as we approach 2023.

You may feel you have a handle on your accounts receivables, but if you take a step back, you may find otherwise.

As […]

2022-09-12T09:31:17-04:00September 12th, 2022|Categories: Accounts Receivables, Advice for Businesses|

The Many Hats of a Collections Specialist

By Delaney:

One thing I did not consider when applying as a Collections Specialist is just how many ‘hats’ I’d come to wear in this role.

We work with a variety of clients – dental offices, lawncare services, banks, veterinarians, restoration companies, and medical laboratories – just to name a few. The longer I have been with American Profit Recovery, the more I have grown familiar with the assortment of different industries that we recover funds for. I have learned general practices and billing procedures for these varying industries, which allows me to better understand and help their customers. […]

2022-09-08T08:31:37-04:00September 8th, 2022|Categories: Advice for Businesses, Small Business Collections, Team APR|

Do not put off hiring a collection agency this year

Our economy is changing, and you need to be ready!

If your business has thought about hiring a collection agency to improve cash flow, but has never made a firm decision, you’ll want to listen up. Economic conditions are changing rapidly, and your ability to weather the shifting conditions could rely on just a few basic principles and techniques in your business. If you don’t get ahead of the moving economic landscape that is taking shape in our country, you will look back and wish you decided much sooner.

As the economy continues to change, here are several issues your organization needs to consider to stay healthy and maintain positive cashflow. […]

4 little known benefits of using a debt collection agency

When running any type of business, you are obviously dealing with clients and customers who ultimately need to pay you for your goods and services. But we all know that there are a certain percentage of your customer’s over time that will drag out payments, not pay you at all, or run into circumstances where they lose the ability to meet their financial obligations.

Many businesses have the best of payment terms and expectations, but there are always circumstances that arise with certain customers that you’ll need to address when it comes to getting paid on time.

Most people understand the basic concept of a collection agency. Customers do not pay, and your business sends those accounts […]

2022-07-19T11:16:30-04:00July 19th, 2022|Categories: Accounts Receivables, Advice for Businesses|

Is your accounts receivable program ready for a new economy?

Consumers as well as the business community have been through a lot during the two-plus years of dealing with the COVID-19 pandemic. Many businesses had to drastically alter the way they conducted business and many as you know all too well were forced to shut down completely temporarily.

Consumers either lost their jobs, had their hours cut back depending on the industry they worked in, or decided to take on new careers. Consumers were also left with a whole host of other challenges including finding the products and services they use frequently and of course meeting their financial obligations.

The effects of the pandemic continue to cause challenges for consumers and the US economy as well as […]

2022-06-16T09:25:10-04:00June 20th, 2022|Categories: Accounts Receivables, Advice for Businesses|

The best debt collection agencies-what do they have in common?

Choosing a third-party collection agency Is a big step for some businesses. The business needs the cash flow, and is frustrated customers are paying late or in some cases not paying at all, but need a solution. Many businesses have tried various tactics and strategies using internal resources, but there comes a time when you need to seek outside help for collections.

That company is going to be representing you whether in written form or through phone communications with your customers so it’s important that you as a business choose wisely.

If your organization is currently looking to hire a debt collection agency, there are several things the best agencies in the industry do and do well. […]

2022-07-05T10:43:35-04:00May 31st, 2022|Categories: Advice for Businesses, Small Business Collections|

Top 5 reasons your customers are not paying you on time

Did you ever wonder why your customers are not paying you on time? It’s one of the more frustrating aspects of running any size business. Customers contact your business, you provide the service that you promised and then in some cases, you’re left to chase that customer for the money they owe you.

And because you have other customers to serve, and a whole host of other obligations to run your business adequately, you and your staff now must expend time and other resources to get that customer to pay.

Your accounts receivable process is just part of running a business of any size. Customers are going to pay on time, some are going to pay late, […]

Ask yourself these 5 questions before starting collection activity

Before sending any customer to a debt collection agency, it’s important for a business of any size to conduct its due diligence to try and resolve that matter. Having an established relationship with a reputable collection agency is an important part of your overall accounts receivable program. But it is critical for your business to understand how a customer got to the point of collection activity before implementation.

You and your staff should be able to answer the following questions before a customer is put into collections. And this is also a great guide for your business as you clean up your accounts receivable systems. […]

What our debt collection team wants you to know

We have assembled a fantastic group of professionals here and we believe we have some of the best debt collectors in the country. And it didn’t happen by accident. We have been able to put together this team for several reasons and because of this, both the businesses we serve and the consumers we speak with every day benefit from this well-trained and dedicated team.

The job of a debt collector not only requires ongoing and professional training as well as knowledge of current laws but it is also beneficial when the collector truly cares about the outcome of the current situation they are working on. And that must include making sure the consumer is set […]

2022-02-18T10:45:35-05:00February 21st, 2022|Categories: Accounts Receivables, Advice for Businesses, Team APR|
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