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| Kate Commarato | 
Everyone
plans for the future. Wouldn't it be great to have a lower DSO
the next time year end rolls around? Let your collections department
become a profit center! Never thought that part of your company
could end up growing your bottom line? Well think again! Outsourcing
your troublesome receivables and committing to a relationship with
an ethical collection agency is a value added service most people
overlook. If you have an dedicated credit and collections
department, chances are your people are over worked. Day in and day
out they are dealing with many of the same accounts. 80% of their
time may be taken up by 20% of your accounts. Countless numbers of
calls and streams of paperwork are sent to these overdue accounts.
Many employee hours are spent updating notes on accounts that are
quite frankly a waste of your employee’s time. Consider the
increased efficiency of a department that spends it’s time
collecting from fresher, more collectable accounts. How can you
accomplish that? Outsource the problems; unload the time guzzling
accounts to an agency specifically set up to deal with complicated
accounts. This will allow your employee’s to work wisely. Your
company will benefit from the increased cash flow and you will
benefit from the lower stress levels.
Save
your money, leave the up-front expenses to Delta
Recovery Systems . You don’t pay us unless we are successful.
In addition to State of the Art technology that we invest in on a
regular basis, we must also invest in our people to keep them
trained in the most current, best collection practices. So why not
tap into a resource that already exists? You don’t have to spend
the money on technology and training; we have done it for you.
Don’t set you’re your people up to fail, give them the ability
to succeed and you'll be a winner too! Change the system and you
will be in the much better shape next January!
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NO!
Not THAT door! 
Long,
long ago in a land far away (New Jersey) a young partner of a fairly
new collection agency was still doing personal visits on commercial
accounts. He and his partner had been trying to get in touch with a
plumbing contractor, a BIG plumbing contractor, who owed close to 6
figures to their client. Deciding that it would be a smart thing to
go directly to the debtor’s place of business, our valiant
collectors hoped in the car and drove a considerable distance the
debtors address in a depressed area of a city. Not being one to shy
away from a challenge, ONE of the collectors proceeded to go to
visit the debtor. The other one thought it would be best to stay
with the car to make sure we still had a car when we got through
with our business. The building was an old city tenement. For those
of you who have never experienced such a building, the first thing
you see is a storefront. Our collector entered the storefront and
found a couple of pieces of furniture, but no one in sight. He
called out to see if anyone was in the office, no answer. Now the
back of this first space had a door centered in the wall. This is
not at all unusual. Hearing movement beyond that door, our collector
knocked, got no response, and entered. He found another more or less
empty room similar in size to the first. There were perhaps four
desks, not looking recently used. As before, another door in the
center of the rear wall and more sounds coming from behind it. Again
our collector figured, I’ve come this far, can’t turn around
now. He walked to the door and the sounds stopped. He placed his
hand on the doorknob, turned it and opened the door. DOGS!!! Big,
toothy, ugly dogs. Our collector turned and ran before those dogs
had a chance to move. Through the second door with barking hounds
behind, through the first door, onto the street and with a running
dive, made it through the passenger side window (thankfully it was
open) and he and his partner sped away. Unbitten.
The
moral of the story is “I ain’t doing that no more!” The
running collector was CEO of Delta Recovery Systems, David Ward in
the early 1980’s !
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Accounts
receivable collection provides the fuel that drives a successful
business. Here are some questions to ponder for 2006:
The easiest way to increase your cash flow is to pay close attention to your aging receivables. Collecting past due receivables may eliminate the need for borrowing. Every business must write off some bad debt, a professional collection agency can keep those write offs to a minimum. Every day that your money is past due translates to dollars lost. Let us take the steps needed to properly deal with your receivables. Then and only then – write off what you must. |
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