Collections for Clients in the Early Stages of Delinquency
Accounts with less than 120 days past due are classified into the early stages of delinquency. In these cases, the debt collection strategy needs to be well-thought-out and immediate, right from the first day that balance is outstanding, in order to increase the likelihood of collecting payment. Apart from using appropriate tools and learning about […]
Key Aspects of Efficient Collections
In order to map out an efficient debt collection strategy that directs your efforts towards effective contact and high recovery rates, you must take into account a series of key and integral factors within your company. There is more to debt collection than meets the eye. It is a process that involves a large number […]
Bulk SMS and Voice Broadcasting in Debt Collection Strategies
Text and voice messages are tools that prove ideal for collections departments because they allow to interact with customers directly and much more economically. Technology helps to reach audiences in effective ways and branch out into new communication strategies. Therefore, it is a profitable investment for accounts receivable management firms, contact centers, and any other […]
Why Is the Collections Department Important to Companies?
Debt collection and debt recovery are activities that require well-thought-out processes in order to achieve successful results and encourage the liquidity and solvency of businesses. Whether companies run an in-house department to collect their receivables or they outsource this task to a third party, such as an agency, they must develop a custom collection strategy […]