Why should I use a Collection Agency?
- Receiving timely payments on accounts receivable is critical to any business that is concerned
with continued growth and stability.
- Professional collection firms are several times more effective in collecting overdue
receivables than are most in-house collection staffs.
- Using an outside collection agency allows your staff to focus on other critical areas instead
of the collection process, which is beneficial from both public relations and liability standpoints.
- Because out-sourcing is the most cost-effective and simplest collection option, more
companies than ever are using a collection agency.
Which Collection Agency should I use?
- Be sure to call some of the references an agency provides, especially those similar
to your company. Ask them about the level of service, return, and overall satisfaction.
- Consider professional affiliations and memberships.
- Look at the collection agency's fee structure. Most good agencies are contingency only;
there are no other charges or fees.
- If you're already using a collection agency, consider using an additional agency
along with your present one. Utilizing more than one collection agency gives the client
a basis to determine rate of return and success.