“In this new wave of technology, you can’t do it all yourself, you just have to form wise alliances” – CS Helu
‘Collecting debts in the current financial environment can be an expensive and time consuming process. Thanks to innovative communications technologies developed here in Australia, there are tools available to automate most facets of the collections process. Using automated telephone and SMS based channels helps to lessen the hard labor cost needed to get in touch with all the outstanding debtors you might have whilst fulfilling your obligations under the Australian Consumer Credit Code.
Consider how much time and money you may have spent trying to reach your debtors—costs that take away from your overall profit. Continue reading →
“Being on par in terms of price and quality only gets you into the game. Service wins the game.’ – Tony Alessandra
If you want to make things happen the ability to motivate yourself and others is a crucial skill. Smart businesses use motivation to get results in their debt collecting. Motivation requires a delicate balance of communication, policy and incentives.
At the same time, if you want your customers to pay up consistently and on time, you have to have the ability and techniques to make them want to avoid the negative consequences if they do not pay debt on time. Continue reading →
“If you are a business owner, you will likely encounter overdue debt on a very routine basis. A huge number of customers – both individuals and other businesses – will inevitably forget, not bother, or refuse to pay their bills.
It’s easy enough to deal with the forgetful procrastinators with a couple of firmly worded overdue notices, but for those who still don’t pay, there is a time to turn things over to a debt collection agency.
When it becomes clear that a customer doesn’t intend to pay you out of their own free will, turning things over to another party probably isn’t a bad idea. For example, customers that flatly deny owing you money despite your records are very difficult to deal with without help. Continue reading →