Accounts Receivable Collections – Part 3

Now more than ever you must follow a better path in collecting your accounts receivables effectively. That means actually getting your money.

I have written before about the most effective system to use to support your internal collection efforts. If followed, this system will yield great results. I have further revealed to you the name and telephone number of the best collection agency currently in business as they get it and they do it: International Recovery Services, Inc. (Call Jared Schultz at 1-800-868-9298.)

Since then we have experienced a banking industry meltdown. Our economy is well chilled and revenues for most businesses are declining rapidly as everyone is scared and that equates to less spending. It also means some of your customers are on the financial ropes. Even if they have been paying well for years they are now faced with severe, unprecedented problems.

Collecting your receivables in a declining market is far more important than collecting in an up market. Your revenues are probably down and more of your clients are about to slow pay or not pay at all, so you will need the cash. Now more than ever, fast action is required. You need to utilize an effective accounts receivable collection program as soon as possible. You must also engage an effective commercial collection agency if you are a business-to-business supplier to get you your cash as quickly and completely as possible.

I can only restate what I have stated before regarding this matter: After years of working in the turnaround and workout industry, solving difficult business problems and building profitable business organizations, I have found a unique and valuable resource, a collection agency that actually collects. They achieve 70% recapture of lost receivables. Yes, that’s 70%. (Of course, this applies to current receivables.) Hard to believe but it’s true. Either you have an agency and should replace it as this one is better, or you do not use one and should as the times are different than ever before.

Give this company your uncollected receivables as soon as possible. I recommend this when the receivable goes 30 days old, fifteen days later, after you have billed, attempted to collect and failed. Waiting longer results in a lower recapture percentage.

Call them now.