A collections policy is an important part of your company’s credit management program. Along with an effective lien policy, a strong collections policy typically avoids moving to litigation. To increase the odds of having your invoices paid, and maintaining a positive long-term relationship with your clients, consider outsourcing your invoices to Madison Resources. We handle all collections from the first attempt until paid or the invoice is charged back and we do it with a soft approach while making sure your invoices are taken care of promptly.
How Can You Simplify Collections?
Lower Collections Costs
Recovering past-due funds is a detailed process. It’s best carried out by trained professionals specializing in collecting on unpaid invoices. Outsourcing your collections saves you the expense of hiring and training additional staff and other costs associated with the collection process. Taking advantage of our scalability means you avoid being under- or overstaffed while maintaining timely collections.
Reduced Delinquency Rates
Partnering with a back-office resource that includes invoice collections means gaining access to a full-time staff dedicated to recovering past-due funds for your business. Experts know the best practices for working hand in hand with our clients to ensure timely payments. They also have the experience and patience to handle adverse situations in a professional manner. It’s essential to know how to get delinquent accounts current before progressing to later stages of the collections process.
Faster Collection Time
The more time your staff spends collecting on delinquent accounts, means more accounts may fall through the cracks and become past due. By outsourcing, you gain external staff who dedicate all of their time to getting your accounts current as quickly as possible. The increased focus creates a shorter collections cycle.
Greater Collection Rates
Having an external staff dedicated to collecting on past-due invoices for your company increases your collection success rate. A higher rate improves your balance sheet and bottom line. Working with an outsourcing partner means making more client accounts current to maintain cashflow.
When staff spends time on the collections process, they have less time to focus on generating new revenue. Outsourcing your collections frees up time for you to focus on your business.
Outsource Your Collections to Madison Resources
Outsource your collections process to Madison Resources. We work on collecting outstanding balances so you can continue to bring in revenue. Partner with us today.