article thumbnail

Can a collection agency help me keep my customers?

American Profit Recovery

Utilizing a reputable collection agency for your all business or larger organization is one of the best ways to dramatically improve cash flow. Want to know more about how a collection agency can actually help your business keep customers? The post Can a collection agency help me keep my customers?

article thumbnail

Why your business should think about retaining customers when hiring a collection agency

American Profit Recovery

A business like yours likely has one goal when hiring a collection agency: to collect money from customers who pay late or have not paid at all. You may also want to work with a collection agency because you do not have the internal resources or the time to chase past-due invoices, and it is time-consuming.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

6 clear signs you need to hire a debt collection agency

American Profit Recovery

If you have ever heard yourself saying these phrases below, it’s time to get serious about debt collections and seek out a third-party collection agency. And that’s hiring a professional debt collection agency. I’m always chasing late invoices instead of trying to grow my business Sound familiar?

article thumbnail

Why Cybersecurity Matters for Collection Agencies

Nexa Collect

For collection agencies, failing to protect sensitive debtor data can be disastrous. Here’s what agencies must know about cybersecurity and why it matters: Compliance Isn’t Optional Collection agencies are regulated by laws such as the Fair Debt Collection Practices Act (FDCPA) and the Gramm-Leach-Bliley Act (GLBA).

article thumbnail

How Collection Agencies Minimize Effort and Maximize Results with the Right Software

Navigating collections in the dynamic financial landscape presents multifaceted challenges. BEAM offers a comprehensive solution with specialized modules to streamline debt collection effortlessly. Finding the right software can save time and money.

article thumbnail

Collection Agency Closure Checklist: Legal, Financial, & Operational Steps

Nexa Collect

You can certainly shut down your collection agency, but it’s important to do so in a well-planned manner. Numerous collection agencies have been forced to close their doors, primarily due to the high costs associated with adhering to stringent government regulations or a lack of sufficient business to sustain operations.

article thumbnail

Don’t Leave Money on the Table: How to Work with a Collection Agency for Improved Cash Flow

American Profit Recovery

Hiring a collection agency for your business can be an extremely smart move and a strategic advantage in improving your cash flow. However, effective debt collections happen when you have the proper documentation in front of you. Being organized and proactive can make a big difference in the amount of money you collect.