I was recently reading an article that was talking about the definition of insanity; doing the same thing over and over and expecting a different result. While the article was discussing exercise and dieting, the same can be said for working your accounts receivable.
Are you calling the same people over and over, or sending statements over and over, only to get the same result time after time? Maybe you get that customer on the phone once or twice; they may even make a promise to pay you. Generally the next month though, you see the same person on your aging sheet, only to call them or send them another statement. Usually at this point they won’t even answer your calls or respond to your statements. Why keep doing the same thing and continue to get the same result?
Working in Customer Service we have heard every reason to keep working the accounts and not turn them over to your collection agency. There is a special circumstance; your business is in a small town; they are your neighbor; they promised to pay once they got their next check; the owner of the company is just too nice to turn someone into ‘collections’ (I told you we have heard it all!) Remember, the reason you signed up with APR, you wanted to get paid … AND keep your customer. That is what we are here for. Tier I is designed for exactly that. We are here to give that nudge to your customer to get them to not only pay you but also to continue do business with you.
If you need help to break the ‘insanity’ submit those accounts to Tier I and let us help you and your business.