Debt Collection Processes
When it comes to commercial debt collection, it is imperative that businesses have tight systems in place, which clearly outline processes. These procedures should be adhered to, even before any sale is entered into. All employees must understand these policies, and keep detailed notes of all transactions with every client. On too many occasions we have dealt with cases where verbal agreements have not been recorded, and this has caused untold difficulties.
Each business will have its own internal procedures for the collection of commercial debts, but the key skill is determining when your internal systems have been exhausted, and you do not have the resources to collect outstanding invoices.
It is at this point however that many business owners make the wrong decision about how to move forward. Too many simply write off the debt, which has a negative impact on cash flow; others pay high upfront fees to unreliable firms to recover the debt, which can result in both the loss of the fees — and the debt.
Shrewd business owners pass over their outstanding invoices to an external company, as soon as the agreed payment date has passed, with no money forthcoming. This not only frees up their own staff and allows access to the skills and resources of the debt recovery firm, but the quicker debts are passed over, the quicker solutions can be put in place for the recovery of monies owed.
Finding the right Business Debt Collection Agency
Before employing the services of a debt collection agency, it is important to ask three key questions:
1. Do they have a proven track record?
2. Do you have to pay an upfront fee?
3. Do you feel you can work alongside them, and are they right for your business?
Amril are an experienced and successful business debt collection agency. We pride ourselves on our excellent track record, and we undertake your debt recovery with no upfront fee. We regard ourselves as ambassadors for your company and treat your clients with respect. Amril become an extension of your business — our collection services and solutions are tailored to your individual needs and to each individual debt.
You will be kept informed and updated throughout the process and no further action is taken without your agreement. When it comes to the legal route, this is only advised where we feel absolutely necessary and appropriate for the individual case. We have worked with business of all sizes and across sectors, both in the UK and internationally, and many of our clients now use us for all their debt recovery needs. Do have a look at our testimonials page.
We firmly believe that we are the best debt collection agency for your business, and we do not charge you an upfront fee. Our commercial debt collection services are tailored to your individual needs — we take the time to understand your business and know how important your clients are to you. You can call us today on 0333 355 0002 and we can discuss how to start the process of getting your money back where it belongs.