Benefits of Using a Good Debt Collection Agency
Working with a collection agency is something that too many businesses don’t like to think about until they are in a circumstance where it is necessary to do so. However, this is definitely one area where it pays to plan ahead and build a relationship with a collection agency that you can trust will deliver the best results for you, every time. Good collection agencies will want to fully understand your business and find the best way to collect that leaves you and the customer both satisfied, and your sales consistently paid off. There are many benefits to working with a good collection agency; here are just a few of the reasons why working with a professional agency will be a great benefit for your company.
- It will save money. Overall, this is the biggest issue people come to us at CMCS about: they are losing money to unpaid debts, and it’s also one of our biggest strengths. The ideal is always to recoup the funds without any excess costs to you, based on legal late payment charged and statutory interest. This is helpful on top of saving on costs of staff and your own time, which will be better spent elsewhere.
- It will save time. In addition to the money saved on hiring additional staff to focus on just collections, you will be freeing up time for your current staff that they would otherwise be spending chasing down delinquent accounts. They will instead be able to devote their full attention to retaining those customers who are providing you with consistent payments and regular patronage. If collections aren’t the main background of your staff, let the experts take over and let them get back to doing what they’re really good at, the jobs for which you originally hired their services.
- We’ll handle the lawyers. In cases of very difficult circumstances, we will work with any involved attorneys to handle cases that process beyond pre-legal collections. This would be a very time consuming process that would additionally detract from your business’ stated mission.
- Providing credit checks. We will help you to find credit checks on potential customers, often at a discount, to protect you from late payments in need of collections later down the line. Both prevention and reaction are equally important in keeping your business afloat, and you should consistently work towards having a more risk-averse business when it comes to late payments that could seriously jeopardize your business operations.
All businesses rely on their financial situation remaining consistent and providing the income for the goods and services they have provided. When the money you have been expecting isn’t coming through, it’s cause for alarm—unless you’re working with a good collection agency. Here at Central Mercantile Collection Services, we are here to help your business move from survival to flourishing. For more information on our services, call us today at 800-223-6259 to speak with one of our agents on how we can help your business succeed.
