There are some frightening figures out there relating to cash flow and the problems that small businesses encounter with late payment from clients. These late payments can have serious knock-on effects for the small business owner, meaning that they can be left in a situation where they are unable to pay their suppliers and so the spiral of stress and uncertainty continues.
We’re well and truly in the scary season of Halloween, but that shouldn’t mean that everything gives you a fright! There are some frightening figures out there relating to cash flow and the problems that small businesses encounter with late payment from clients. These late payments can have serious knock-on effects for the small business owner, meaning that they can be left in a situation where they are unable to pay their suppliers and so the spiral of stress and uncertainty continues.
The time, energy and money that can be wasted by businesses chasing after late payments or unpaid debts can be enough to bring a business to its knees. Unfortunately, engaging the services of a reputable company to do this on your behalf still seems to be the stuff of nightmares for some companies. Debt collection has had a poor reputation in the past, with the attitudes and methods of some companies leaving a lot to be desired. However, the industry has changed and there have been great steps taken by a lot of businesses to ensure that their hard-won reputations as ethical and supportive partners of businesses remains untarnished.
Engaging the services of a reputable agency makes sound business sense. It frees up time for people to focus on the effective running of the business and allows for more efficient financial planning. A reputable agency should never ask for frightening fees up front and should provide diligent and robust services to deal with any situation imaginable in a professional and manner. Even the most established business owners struggle to chase outstanding payments as the process can be time consuming, expensive and difficult when you’re inexperienced. By allowing professional debt collectors to be the experts on your behalf means that they can focus on resolving overdue collections whilst you concentrate on keeping your business running smoothly. Let the DCA look after the tricks and deliver you the treats.
A credible debt collection company will have years of experience in negotiation to bring positive conclusions and it’s important to find a company that will listen to your requirements and take the appropriate action. Your agency should strive for you and your clients to maintain a good ongoing relationship and continue trading, we don’t see why customer retention shouldn’t continue once the overdue accounts are resolved. It is important to ensure that communication remains open and fair between both parties.
Paid on results and no scary upfront fees
Reputable debt collection agencies are only paid on their results so there are no hair-raising hidden fees or scary outcomes to be afraid of. Adhering to a strict code of conduct and following the specific procedures, DCAs want the best for their clients and understand that your money is more important to you than anybody else. The methodology is not to give the debtor a fright by confronting them but to work professionally on behalf of their client to achieve results amicably and maintain the creditor/debtor relationship for future trade.
For a fang-tastic debt recovery service with years of experience in the industry, give Daniels Silverman a call.
We put the reputation of our clients at the centre of all that we do, meaning that we will endeavour to do all that is possible to recover the money and protect your brand. With experience in collecting debts, performing credit checks and offering credit control services to a range business of all sizes across the UK and globally, you can be assured that we will approach the recovery with diligence and sensitivity, expertly and ethically working on your behalf.
Find out more by visiting our website and starting a webchat, or give one of our business development team a call on 0800 953 3631