Don't let your outstanding payables hinder your growth

Pioneer Blog


How Businesses Benefit By Using A Commercial Collection Agency

05-17-2013

 

The goal of any business may be summed up in one word: profitability. Many factors contribute to the profitability of any company. Customer service must be excellent to stand out in this consumer-driven environment. Quality products are a must. Efficient processes are essential. However, the number one factor that contributes to profitability is simply getting paid for the services provided. A successful commercial collection agency can affect this number one factor in a dramatic way therefore enabling any business to achieve the all important goal of profitability.

The likelihood of a debt being collected drops drastically after the first 30 days. A service business who bills customers is at the mercy of the forgotten payment, mismanaged finances, or just plain "not going to pay" excuses. As the debt lingers, more excuses and more pressing needs crowd out the urgency to pay the bill. After the first 30 days, many customers no longer worry about making a payment simply because they understand that most businesses don't have the time nor money to continually chase them. A commercial debt collection service does.

Smart business managers know their strengths and weaknesses. Providing quality service is what has made them successful. Chasing down delinquent accounts detracts from what they are good at. They do not have the time nor energy for the tiresome legwork necessary to chase down their past due customers. Successful companies major on their strengths and outsource everything else. Collection specialists have the required knowledge and skills to locate and collect late payments. Hiring a professional commercial collection agency is simply smart business.

When customer service is a priority, every contact with a customer is important. This emphasis includes when collecting payment for services rendered. The wrong approach can not only cost a business the current payment, but also paint a poor picture of customer service and reduce the likelihood of any future business from that client. A professional debt collector is trained to deal with delicate situations in an understanding yet consistent manner. Quality customer service is still the focus leaving a positive lasting impression.

commercial debt collection agency increases the profitability of a business. The specialized knowledge these agencies possess reduces the time and effort it takes to collect payment. The professionalism displayed maintains the customer service focus even when dealing with difficult situations. The success of collecting the debt adds to the bottom line. When profitability is the goal, using an established commercial collection agency with a proven track record is the right answer and you can turn to us at Pioneer Capital Solutions Inc. to help you win the battle over unpaid commercial debts. 


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