Cash is King during COVID-19. Poor cash flow can cause a significant number of financial issues but in a pandemic it can destroy your business. The good news is, strengthening your cash flow in a volatile environment can improve your overall cash position. Cash flow is about both bringing in more cash and spending less … Read more
In today’s business climate, managing cash flow efficiently is more important than ever. One aspect that can dramatically affect a company’s financial health is how effectively it manages debt collection. Outsourcing this critical function to a debt collection agency can offer numerous advantages that go beyond simply recovering outstanding debts. Enhanced Recovery Rates Debt collection … Read more
No matter what kind of business you run, the current pandemic is probably testing your leadership skills. Whether your business has gone online, or is still physically open, you are handling new expectations, rules, and staff concerns. Research shows that one of the qualities that most helps leaders remain effective in a crisis is mindfulness. … Read more
Negotiations are a large part of any collections business, and empathy is at the heart of every negotiation. Empathy means being able to see and understand someone else’s point of view and needs. So, while I may want to collect as much of the money owed to my client as possible, I also need to … Read more
During this difficult time, protecting your health and the health of your family is the most important task. Of course, the health of your business is critical as well. The Covid-19 crisis will end. When it does, you want your business to be in as good a shape as possible. Keeping your business running and … Read more
As a collection agency, we obviously think that we’re in the best position possible to help you collect on unpaid invoices. But, we are sometimes asked for alternatives. We don’t take it personally, we know people like options. Here are four other ways you could potentially deal with unpaid invoices. Invoice Factoring With invoice factoring … Read more
You’ve probably heard that there’s a statute of limitations on debt. Whether you owe money or are owed money, you’re probably eager to know if your debt can still be collected on. In both cases the answer is … it depends. What Does a Statute of Limitations Mean If you watch a lot of police … Read more
If you aren’t vigilant as a business owner, small business loans and debts can pile up very quickly. This can cause big problems that affect different areas of your life: from anxiety and stress to the business’ eventual shutdown. Even if you haven’t gone through it yourself, this scenario might sound familiar. This is because … Read more
Part of being a collection agent is being a negotiator. I’ve mentioned before how important I think negotiation strategies are for everyone. Recently, I was talking to a friend about some unfortunate medical bills he was facing. I asked if he had tried negotiating with the hospital and he looked at me like I was … Read more
Let’s be honest. Most of us are very good at making new year’s resolutions, we’re just not very good at keeping them. People tend to keep resolutions until about January 15th, but by the time January 31st rolls around, they’ve generally moved on, or rather back. Goals are hard to keep. The new year is … Read more
