Top 5 Challenges of Commercial Collections and How to Manage Them
There are various challenging aspects to handling the financial side of business transactions, be it the rendering of services or provision of goods; one must deal with customers and payment woes in all cases. A rising issue most businesses face is the mounting accounts receivable resulting from unpaid accounts and elusive customers, making debt recovery harder and the revenue stream thinner.
Getting Ghosted by Payments? Here’s How to Handle Delinquent Accounts In 2024
Do you often find yourself treading water in the sea of financial responsibilities? But confused about how and where to start. In 2023, you were stuck chasing down overdue payments, the same old tactics feeling dusty and ineffective. It is a constant battle, leaving you stressed and your cash flow stagnant. But hold on 2024 rewrites the rules!
Top 8 Tips for the Recovery of Bad Debt from Commercial Delinquent Accounts
When navigating debt recovery, there are many instances where handling commercial delinquents often stands out as one of the most formidable challenges. They are marked as bad debt recovery accounts. The practice of not paying the debt on time is quite common and for consumers or clients to fall behind on payments, causing stress and uncertainty for business.
5 Cyber Security Measures Every Debt Collection Agency Must Take
With the rapid increase in data breaches occurring daily, so much so that a cyber-attack occurs once every 39 seconds, cyber security measures have become necessary, especially for debt collection agencies. Since these agencies hold such treasured data of their valuable customers, including creditors and debtors, they must ensure proper cyber security measures in their operations and everyday routines.
Importance of Debt Recovery in B2B Collections
In the ever-growing world of b2b collections, compared to consumer debt recovery, the commercial sector has received the most attention since it tends to have its complications. With businesses expanding and rising inflation, keeping track of commercial collections can take time. Therefore, many companies are gravitating towards online AR management platforms that provide ease of access and maximum debt recovery, such as CollectCo, which offers expertise to the b2b collections with first and third-party collections.
Improve Small Business Debt Collection with Accounts Receivable
Whether you’re a business just starting or have some experience under your portfolio in the debt collection market, outstanding invoices can negatively affect your business’s cash flow and revenue. This issue makes you wonder how to improve small business debt collection with accounts receivable.