Advice for Businesses Archives - American Profit Recovery

Cash flow basics for a changing economy

Cash flow is the lifeblood of any business, and your small business can be vulnerable to cash flow issues. And economic conditions can be a major driver, whether it be negative or positive cash flow.

Without a steady flow of cash, your small business could struggle to meet your own financial obligations, attend to basic expenses, meet payroll, invest in growth and so much more.

If you are worried about cash flow in your small business this year, it is time to revisit some ways that can affect positive cash flow. While using a debt collection agency is one strategy, many more factors affect positive cash flow.

Economic conditions are going to affect your cash flow

Our changing economy […]

David Greenwood2023-04-03T08:10:32-04:00April 3rd, 2023|Categories: Accounts Receivables, Advice for Businesses, Small Business Collections|

5 things your business should never do when trying to collect a debt

One of the more frustrating parts of running any type of business is when customers pay late or do not pay at all. We’re confident you would agree with that statement.

As a debt collection agency that works with small business and large organizations, we hear the disappointments regularly from people just like you we are consulting with.

When we conduct our free consultations for debt collections, it’s one of the first things we hear. Business owners, and others that are part of the accounts receivables process continue to experience the aggravations of getting certain customers to pay.

While there are endless reasons why customers become delinquent on their financial obligations to your business, business owners tell […]

David Greenwood2023-03-30T08:16:03-04:00March 30th, 2023|Categories: Accounts Receivables, Advice for Businesses, Small Business Collections|

Ready for more on-time payments this year? Do these now

A New Year is upon us and hopefully a new season of busy activity for all you small business operators.

Whether you are a lawn care or landscaping professional, contractor, a plumber or electrician or any small business that gets busy during the spring and summer months, it’s time to review your accounts receivable process before you get too busy.

Yes we’ve spoken about this before but have you really taken the time to button things up and improve your procedures?

If not, carve out some time before you get busy and make these happen.

Why? Because one of the biggest reasons small businesses suffer from cash flow problems is the time between service and actual payment.

Want to get […]

David Greenwood2023-02-27T08:52:30-05:00February 27th, 2023|Categories: Accounts Receivables, Advice for Businesses, Small Business Collections|

It’s important to have a career where we can help others

By Delaney:

“Thank you for helping me today.”

“Thank you for reaching out and for being understanding and compassionate.”

“Thank you so much for hearing me out, you don’t get that often.”

These are just a few of the many compliments we hear daily at American Profit Recovery. […]

David Greenwood2023-02-22T10:00:38-05:00February 22nd, 2023|Categories: Advice for Businesses, Team APR|

Questions to ask a commercial collection agency before hiring

A commercial collection agency is an agency that works to resolve debt between two businesses. Commonly known as B2B debt collections, it’s the process of mediating financial disputes and overdue invoices owed to a commercial client.

In many cases, these invoices and balances due can add up to a substantial amount of money. If, for example you are in manufacturing or distribution and you extend credit in the form of pallets of products, you’ll want to know how quickly you can get paid for those orders.

Because these invoices can represent large sums of money for an organization, many companies rely on the expertise of a commercial collection agency to improve cash flow.

If you are an organization […]

David Greenwood2023-02-17T09:28:53-05:00February 9th, 2023|Categories: Accounts Receivables, Advice for Businesses|

Keeping the lines of communication as open as possible when collecting debt

By Brian L.

The saying goes, “actions speak louder than words” when it comes to showing who you are or what you are capable of accomplishing. In the debt collection industry, words are what speak louder than actions. Your choice of words will determine what actions follow.

With conversations being made over the phone, the opportunity is there to build a relationship with a consumer so that both parties can come to an understanding, reaching a resolution that may have been a long time in the making. […]

David Greenwood2023-01-15T12:21:18-05:00January 5th, 2023|Categories: Advice for Businesses, Team APR|

4 proven ways to make debt collections easier for your business

Just about every business we encounter wants to make the process of getting paid on time much easier. Getting late-paying customers to the table and small business debt collections can become an area where many organizations just do not have the available resources.

Take, for example, the lawn care company that works from sunrise to sunset and deals with a labor shortage. Implementing an easier method to collect payments becomes mission-critical for that business.

If your business has been struggling with cash flow and getting your customers to pay on time, check out these four tips our debt collection experts have come up with to make getting paid on time easier for any size organization.

David Greenwood2022-12-29T16:00:59-05:00January 3rd, 2023|Categories: Accounts Receivables, Advice for Businesses, Small Business Collections|

What happens when debt collectors are nice to consumers?

Consumers and the business community should be comforted knowing there has been a consistent industry-wide effort in collections to humanize the process. More and more collection agencies understand the value and critical nature of tactful and respectful communications with consumers.

Why is this important for the public to understand?

Any business transaction should be conducted by interested parties that can come together. The process of debt collections should be no different.

So what happens when consumers are treated with the dignity and respect they deserve? […]

David Greenwood2022-12-29T15:52:15-05:00December 29th, 2022|Categories: Advice for Businesses, Advice for Consumers, Team APR|

4 more myths about debt collections DEBUNKED

Have you ever wanted to know the real story behind the debt collection industry? Want to get the inside scoop on how things really are in the world of debt collections? We got you covered here!

There are untold amounts of myths regarding collection agencies and how they operate. And even more myths about how they interact and work with consumers. So we thought we would share a little bit of inside baseball when it comes to debt collections and debunk many of the myths that people share.

Think you know everything about the debt collection industry? Our team dispels four more myths about debt collections below. […]

David Greenwood2022-12-21T10:01:54-05:00December 23rd, 2022|Categories: Accounts Receivables, Advice for Businesses, Advice for Consumers|

Celebrating the holidays American Profit Recovery style

The team here at American Profit Recovery always takes time to ring in the holiday season. Working in the debt collection industry is fast-paced, and sometimes challenging and it is important for this organization to ensure the entire team gets a chance to experience everything this season has to offer.

It has been a long tradition here to have many opportunities to celebrate the holidays. It is important as an organization to have this as part of our culture and values.

Over the past month, the team has celebrated this season and a year’s worth of individual and team accomplishments. […]

David Greenwood2022-12-21T10:02:18-05:00December 21st, 2022|Categories: Advice for Businesses, Team APR|

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