IT Companies Debt Recovery
In a busy and fast-paced environment these companies may struggle to find the time, or have the necessary skills required to recover any monies owed from unpaid invoices. As with many companies maintaining good customer relationships is key to retaining clients and securing repeat work and this can put businesses in a difficult position. How do you get the money you are owed, for the work you have done and keep a healthy relationship with your client base?
IT companies are at the forefront of keeping lots of our business safe. With remote monitoring, disaster recovery and backup and anti-malware protection, IT companies are often the unsung heroes of businesses.
After riding to the rescue and working on things like recovering lost data and implementing a secure recovery plan, or performing remedial security work on your systems, many IT companies work on 30-day terms for the work completed.
Cash flow paramount
Just like any business, for IT companies cash flow is paramount to their survival. Poor cash flow is the number one reason that SMEs fail and ensuring that they are being paid on time is vital for their survival and ability to function efficiently as a business.
In a busy and fast-paced environment these companies may struggle to find the time, or have the necessary skills required to recover any monies owed from unpaid invoices. As with many companies maintaining good customer relationships is key to retaining clients and securing repeat work and this can put businesses in a difficult position. How do you get the money you are owed, for the work you have done and keep a healthy relationship with your client base? The answer is to use a reputable collection agency. An experienced collection agency will take the time to get to know your business and understand the importance of your clients.
What to look out for
There are a few things to look out for when choosing a collection agency to ensure you are working with experienced professionals:
• If a company is asking for a payment before they have actually done any work, avoid them. A reputable agency will only be asked to be paid on results.
• Will you have a dedicated account manager? It is important to have one point of contact who understands your case to talk to. It saves you time.
• Does the company understand that there is no ‘one size fits all’ approach to debt recovery? No two cases are the same and the debt recovery path should be tailored to your requirements.
• Are they approachable and personable? This approach will get you more results more quickly.
• Do they understand that your reputation needs to be at the centre of everything they do? A good agency will work hard to recover your money and also strive to protect your reputation.
• Will they work hard at protecting your client relationships? An experienced and professional agency will work ethically, understanding that the relationships you have built with clients must be protected.
• Will they provide comprehensive reporting about your debt recovery process? This is vital so that you understand where the process is up to, and more importantly where your money is!
Any open, honest and professional agency will provide all of this and more.
If you are an IT firm who has been putting up with late or non-payment of your invoices, it’s time to act.
IT Debt recovery experience
Daniels Silverman are experienced at recovering monies owed as well as protecting client relationships and your reputation.
It’s what we have been doing for over 20 years for our clients. Our expertly and ethically trained collectors can help you to restore your cash flow, free up your time to work on what you do best and inject some confidence into your forward planning goals for the business.
Get in touch today to speak to one of our Business development team who are waiting for your call.