Can you build a meaningful and thriving career at a collection agency?
We’re proud to say that, as in many of the past several years, we have earned the distinction of being one of the best places to work in the collection industry. It’s a recognition that we do not take for granted every year and work hard to achieve.
Maintaining an environment and a culture where people want to come to work and are excited about what the day brings them is truly one of the best parts of seeing this organization grow and thrive.
For over two decades, we have provided individuals from all walks of life with the opportunity to build and grow a career that they themselves can be proud of. But we didn’t do […]
Why Restoration Companies Struggle With Late Payments — And How to Protect Cash Flow
Restoration companies play a vital role in helping homeowners and businesses recover from a wide range of disasters. Those include water damage, fire, mold and the effects of weather.
However, despite providing that urgent and high-value service, many restoration contractors struggle with getting paid on time.
Because we handle debt collections for restoration companies we know that late payments, insurance delays and billing disputes can put a heavy strain on the cash flow and increase the stress of owners and managers.
Restoration companies continue to struggle with these issues, and what can be done to minimize them is essential for building a financially healthy restoration company.
Let’s explore why many restoration companies experience payment delays and how they […]
How to Have Awkward Payment Conversations Without Damaging Relationships
If you’re running any type of small business, which includes medical and dental practices, you’re going to have a percentage of customers or patients, who either pay late or do not pay at all. As a result, many professionals running small businesses find it necessary to have uncomfortable payment conversations.
It just comes with the territory.
And we get it as a collection agency for small businesses and other industries. You want to maintain trust and professionalism and retain goodwill with your customers. But you must protect your cash flow. And when your customers are delaying payment, ignoring invoices or challenging what they owe you, it can create strains on the relationship and of course financial pressure […]
Power KPIs are Transforming Debt Collection Performance
By Mike Hiller
Debt collections is evolving rapidly, and so are the Key Performance Indicators (KPIs) needed to drive success. Traditional KPIs like Recovery Rate, Right Party Contacts (RPCs), Fee Per Head (FPH), Call volume/Wrap/Pause time, Days Sales Outstanding (DSO), and liquidation rates have long focused on activity and basic financial outcomes.
While still relevant, these “old” KPIs do not fully capture the complexities of modern collections, where consumer experience, operational efficiency, regulatory compliance, and team culture play critical roles. […]
Why relying on dignity and respect is essential in today’s debt collections
The process of debt collections has changed and continues to change for the better in recent times. And the industry as a whole has taken notice.
Diplomacy, listening, dignity and respect are no longer optional in today’s debt collection process. They are embraced and expected. When embedded in the culture of collections consistently, they strengthen the results and in turn benefit both business and consumer.
Modern times are not only craving for a more level experience in debt collections but provide an opportunity for a business to improve cash flow and the consumer to navigate their way out of debt. […]
How can my small business improve cash flow this coming year?
Every year, busy professionals like you running and operating small businesses try to hit the reset button on a number of levels.
One critical item on the minds of most small- to medium-sized business owners is how to improve cash flow. For many, it seems to be an ongoing challenge.
For many small businesses, cash flow problems are not necessarily due to a lack of sales. Negative cash flow results from delayed payments, unclear processes, and inconsistent follow-up on late invoices.
When your accounts receivable systems lack structure, those unpaid invoices slowly accumulate and eventually hurt your business.
The good news is that many cash flow problems can be prevented by implementing the right systems. And as the new […]
Understanding the cash flow challenges of lawn care and landscaping companies
We have been serving as a collection agency for lawn care companies and other landscaping professionals for over two decades. And our team understands the unique challenges professionals in the green industry face in getting customers to pay and maintaining positive cash flow.
While every business faces challenges in getting consumers to pay on time, lawn care professionals and landscaping companies face unique industry-specific challenges.
And it’s important to understand these challenges to develop a system and strategy to get paid on time and communicate with those customers who are not paying you.
If you own and operate a lawn care or landscaping company, you’ll want to check out some of the reasons why you may be struggling […]
How can I get my patients to pay my dental practice on time?
We manage a considerable amount of debt collections for dental practices here.
And for good reason. There is a complex nature to dental and medical billing unlike other types of industries and many consumers can hold back payments for a whole host of reasons.
A mix of factors cause dental practices to place extra effort and resources into improving cash flow. And if your practice understands these challenges and implements solid accounting and collection procedures, you’ll see cash flow dramatically improve.
Let’s take a look at the unique challenges dental practices have in getting patients to pay and what you can do about it. […]
How Industrial-Organizational Psychology Transformed my Career in Debt Collections
By Mike Hiller:
If you’ve ever watched a slugger step up to the plate in the MLB and knock the cover off the ball, you know it’s not luck, its preparation, technique, and timing all coming together in one moment. Staking up enough moments gets you into the Hall of Fame.
For me, that’s what applying a Master’s degree in industrial-organizational psychology has felt like in my career in debt collections. It’s taken the background of fundamentals of human behavior, team dynamics, and organizational performance and turned them into a playbook for exceeding expectations, both personally and for the company and operations team I lead. […]
The debt collection industry has changed-and it’s better for everyone
The debt collection industry has changed dramatically in recent years. And those are positive changes that have made the experience for both consumers and businesses not only better, but far more effective and productive.
These changes are driven by a growing emphasis on respect, dignity, diplomacy and transparent conversations.
The collection agency of today is creating a far more positive experience for both consumers and clients.
Let’s take a look at how the collection industry has changed for the better and why it matters. […]
Don’t Wait Another 30 Days: How to Spot When Late Payments Are Hurting Your Business
It’s human nature. Many people wait far too long to ask for help or get the assistance they need to improve a challenging situation.
We also find this in business. Especially in small business. Many owners and operators attempt to resolve an ongoing challenge until it reaches a point where they can no longer “go it alone.”
This is especially true when it comes to managing cash flow and ensuring customers pay on time. And we’ve heard this story time and time again over the past two decades. A business invoices, calls and sends statements. But for a section of their client base, these prove ineffective. And it’s a clear sign that your business needs professional help.
How […]
