The decision to hire a collection agency is an important one, because if you get it right, you will not only improve your cash flow, but save time and staff resources that you can instead use to grow and service your business. But, when is the right time?
Here are some questions to help you determine that it is time to get some outside help:
- You and your staff are spending so much time chasing delinquent files attempting to recover bad debt that your sales and customer service are suffering
- You have more and more files that need research to find a better address or phone number.
- Your accounts receivable aging list is getting very top heavy, with many accounts over 90 or 180 days.
- You have taken files yourself to small claims court and received judgments from the court, but still have received no payments.
- Your cash flow is tight, and you are having trouble paying your own creditors.
If you can answer “yes” to any of the above, do not delay. Get some help today!
Now that you have decided to hire a collection agency, do you want help choosing the right one? We can help!
