http://www.burtcollect.com/
This is a guide for Businesses for any business debt related topics from; cash flow, accounts receivables, credit policies, bankruptcy and more. How to identify that you need a commercial collection agency, or just simply a collection agency, collection state laws, federal collection laws and more.
12 steps to achieve excellence in debt collection and recoveryEXUS
The challenges Collection & Recovery departments face nowadays have forced them to become more inventive and efficient.
The 12 steps to achieve excellence in C&R embed business knowledge that EXUS has accumulated all these years through the cooperation with field experts.
Go through this presentation and evaluate how these “best practices” employed by top financial institutions in the world can be adopted by your organisation.
Ormita offers a way for businesses to collect bad debts over 120 days old by having debtors pay in goods or services instead of cash. The creditor receives advertising, products, or other goods from Ormita equal to the debt value, avoiding the costs of litigation. Debtors benefit by resolving debts with surplus stock instead of cash. Creditors avoid loss of value from unpaid bills or repossessing assets, while debtors resolve debts without borrowing cash. The process involves lodging the debt with Ormita, who contacts the debtor to arrange transferring goods in exchange for settling the debt.
The debt collection industry has changed significantly over the past ten years. The impact of technology on debt collection practices, industry consolidation
This document outlines a 4-step debt collection strategy that is polite yet persistent. It involves 1) reviewing accounts receivable and categorizing them, 2) focusing collection efforts on accounts just past due to collect "fast money", 3) sending polite emails to different categories reminding them of balances owed, and 4) following up categories in order of priority while assuming innocence and avoiding confrontation. The goal is to collect outstanding fees with minimal effort in the shortest time possible without upsetting clients.
The document provides tips and strategies for effective accounts receivable management and debt collection. It recommends verifying customer information, having clear terms of sale, following up with customers systematically, using positive communication, and educating oneself on best practices. It also lists sample forms that can be used and provides resources for additional information on credit and collections.
The document provides twenty ideas for becoming a more effective collector, including managing deductions more efficiently, developing policies for handling distressed debtors, relying more on subordinates, developing written collection policies, and measuring the right metrics like DSO and DDSO. It also suggests avoiding common mistakes, prioritizing accounts, eliminating payment delays, using lockboxes, collection automation software, and various collection tools and techniques.
12 steps to achieve excellence in debt collection and recoveryEXUS
The challenges Collection & Recovery departments face nowadays have forced them to become more inventive and efficient.
The 12 steps to achieve excellence in C&R embed business knowledge that EXUS has accumulated all these years through the cooperation with field experts.
Go through this presentation and evaluate how these “best practices” employed by top financial institutions in the world can be adopted by your organisation.
Ormita offers a way for businesses to collect bad debts over 120 days old by having debtors pay in goods or services instead of cash. The creditor receives advertising, products, or other goods from Ormita equal to the debt value, avoiding the costs of litigation. Debtors benefit by resolving debts with surplus stock instead of cash. Creditors avoid loss of value from unpaid bills or repossessing assets, while debtors resolve debts without borrowing cash. The process involves lodging the debt with Ormita, who contacts the debtor to arrange transferring goods in exchange for settling the debt.
The debt collection industry has changed significantly over the past ten years. The impact of technology on debt collection practices, industry consolidation
This document outlines a 4-step debt collection strategy that is polite yet persistent. It involves 1) reviewing accounts receivable and categorizing them, 2) focusing collection efforts on accounts just past due to collect "fast money", 3) sending polite emails to different categories reminding them of balances owed, and 4) following up categories in order of priority while assuming innocence and avoiding confrontation. The goal is to collect outstanding fees with minimal effort in the shortest time possible without upsetting clients.
The document provides tips and strategies for effective accounts receivable management and debt collection. It recommends verifying customer information, having clear terms of sale, following up with customers systematically, using positive communication, and educating oneself on best practices. It also lists sample forms that can be used and provides resources for additional information on credit and collections.
The document provides twenty ideas for becoming a more effective collector, including managing deductions more efficiently, developing policies for handling distressed debtors, relying more on subordinates, developing written collection policies, and measuring the right metrics like DSO and DDSO. It also suggests avoiding common mistakes, prioritizing accounts, eliminating payment delays, using lockboxes, collection automation software, and various collection tools and techniques.
The document analyzes the relationship between the number of days to collect a bill and the amount of the bill for different types of accounts at Quick Stab Collection Agency. It finds:
1) For residential accounts, there is a positive linear relationship where larger bills are associated with more days to collect payment.
2) For commercial accounts, there is a negative linear relationship where smaller bills are associated with more days to collect payment.
3) Overall, there is a strong linear relationship between bill amount and collection time for both residential and commercial customers.
The document provides tips for effectively collecting outstanding payments from debtors. It discusses getting on top of unpaid invoices early, using personal visits, phone calls and letters as collection methods. Tips include being prepared with customer details, addressing excuses, maintaining a friendly but firm approach, and getting commitments for payment. The goal is to resolve issues while maintaining good customer relationships.
This document discusses managing technical debt in software development. It defines technical debt as increasing complexity in a system from changes without maintaining structure. There are different types of common technical debts, such as developer effectiveness, observability, scalability, fault tolerance, architectural flexibility, and security. The document provides examples of questions to evaluate debts in each area. It advocates strategically taking on some debt by making APIs extensible and having sufficient testing. Overall, it recommends measuring and monitoring debt levels, and scheduling regular time to refactor and improve code quality.
The document lists training courses on bad debt collection and taxation held in Saigon, Vietnam in February 2014 by Peligotraining.com. The courses ranged from half day to 3 days, with prices ranging from $100 to $500. All courses were on the same topic, held in the same location, and booked through Peligotraining.com.
This short document promotes creating presentations using Haiku Deck, a tool for making slideshows. It encourages the reader to get started making their own Haiku Deck presentation and sharing it on SlideShare. In just one sentence, it pitches the idea of using Haiku Deck to easily create engaging slideshows.
5 ideas to overcome delinquent payments without offending your customersrumadison
Do you have any past due accounts that are hard to collect on? The City of Decatur, Georgia, ran across this problem too while trying to collect occupational taxes owed by local attorneys. This presentation was made by the City to participants at the Transforming Local Government conference in Denver, Colorado, on Apr. 23, 2014. It shares insights on using performance measurements to identify problems like this and make process improvements to close the revenue gap.
Eliminating the opportunity for a patient to skip payment should be a top priority. Any hours spent collecting bills will erode and possibly even eliminate their profit margin. Let us help you create a strategy to overcome nonpayment.
Reduce Time to Value: Focus First on Configuration Management DebtChris Sterling
The value of software is only potential value until it is in users’ hands. There can be many roadblocks to software getting into those hands. These roadblocks tend to revolve around elaborate deployment pipelines stemming from Configuration Management Debt:
* Over-burdened release engineering and operations teams
* High coupling with centrally managed architecture element/component
* Source control practices that impact delivery velocity
* Too many variations/versions of the software supported in production
* Poor integration processes across architecture components and scaled team delivery
* Too many hand-offs between teams in order to release software to users
* Code changes feel too risky and takes too long to validate before releasing into production
* Poor documentation practices
In organizations that have effective configuration management practices it is common to see deployment pipelines that have a smaller number of hand-offs between teams, architectures that tend to be more malleable, and efficient validation processes. By focusing on reducing Configuration Management Debt it is simpler to identify aspects of the integration and release management process that need to be tackled in order to get working software in the hands of users sooner while reducing the bottlenecks in the organizational processes and practices.
In this session we will discuss specific approaches and examples on how reducing Configuration Management Debt leads to reducing other forms of software debt including:
* Smaller number of hand-offs: Platform Experience Debt
* Malleable architectures: Design Debt
* Efficient validation processes: Quality Debt
* More testable software: Technical Debt
This document summarizes a study on debt recovery techniques, problems, and prospects at BASIC Bank LTD's Shantinagar branch. The study investigated causes of non-performing loans through a survey. It found that major causes included economic downturns reducing business profits and consumer buying. It recommended that banks carefully assess borrowers' repayment abilities, monitor loan use closely, and address insider lending to minimize bad loans.
SATTA MATKA SATTA FAST RESULT KALYAN TOP MATKA RESULT KALYAN SATTA MATKA FAST RESULT MILAN RATAN RAJDHANI MAIN BAZAR MATKA FAST TIPS RESULT MATKA CHART JODI CHART PANEL CHART FREE FIX GAME SATTAMATKA ! MATKA MOBI SATTA 143 spboss.in TOP NO1 RESULT FULL RATE MATKA ONLINE GAME PLAY BY APP SPBOSS
Digital Marketing with a Focus on Sustainabilitysssourabhsharma
Digital Marketing best practices including influencer marketing, content creators, and omnichannel marketing for Sustainable Brands at the Sustainable Cosmetics Summit 2024 in New York
[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This presentation is a curated compilation of PowerPoint diagrams and templates designed to illustrate 20 different digital transformation frameworks and models. These frameworks are based on recent industry trends and best practices, ensuring that the content remains relevant and up-to-date.
Key highlights include Microsoft's Digital Transformation Framework, which focuses on driving innovation and efficiency, and McKinsey's Ten Guiding Principles, which provide strategic insights for successful digital transformation. Additionally, Forrester's framework emphasizes enhancing customer experiences and modernizing IT infrastructure, while IDC's MaturityScape helps assess and develop organizational digital maturity. MIT's framework explores cutting-edge strategies for achieving digital success.
These materials are perfect for enhancing your business or classroom presentations, offering visual aids to supplement your insights. Please note that while comprehensive, these slides are intended as supplementary resources and may not be complete for standalone instructional purposes.
Frameworks/Models included:
Microsoft’s Digital Transformation Framework
McKinsey’s Ten Guiding Principles of Digital Transformation
Forrester’s Digital Transformation Framework
IDC’s Digital Transformation MaturityScape
MIT’s Digital Transformation Framework
Gartner’s Digital Transformation Framework
Accenture’s Digital Strategy & Enterprise Frameworks
Deloitte’s Digital Industrial Transformation Framework
Capgemini’s Digital Transformation Framework
PwC’s Digital Transformation Framework
Cisco’s Digital Transformation Framework
Cognizant’s Digital Transformation Framework
DXC Technology’s Digital Transformation Framework
The BCG Strategy Palette
McKinsey’s Digital Transformation Framework
Digital Transformation Compass
Four Levels of Digital Maturity
Design Thinking Framework
Business Model Canvas
Customer Journey Map
Industrial Tech SW: Category Renewal and CreationChristian Dahlen
Every industrial revolution has created a new set of categories and a new set of players.
Multiple new technologies have emerged, but Samsara and C3.ai are only two companies which have gone public so far.
Manufacturing startups constitute the largest pipeline share of unicorns and IPO candidates in the SF Bay Area, and software startups dominate in Germany.
Part 2 Deep Dive: Navigating the 2024 Slowdownjeffkluth1
Introduction
The global retail industry has weathered numerous storms, with the financial crisis of 2008 serving as a poignant reminder of the sector's resilience and adaptability. However, as we navigate the complex landscape of 2024, retailers face a unique set of challenges that demand innovative strategies and a fundamental shift in mindset. This white paper contrasts the impact of the 2008 recession on the retail sector with the current headwinds retailers are grappling with, while offering a comprehensive roadmap for success in this new paradigm.
The document analyzes the relationship between the number of days to collect a bill and the amount of the bill for different types of accounts at Quick Stab Collection Agency. It finds:
1) For residential accounts, there is a positive linear relationship where larger bills are associated with more days to collect payment.
2) For commercial accounts, there is a negative linear relationship where smaller bills are associated with more days to collect payment.
3) Overall, there is a strong linear relationship between bill amount and collection time for both residential and commercial customers.
The document provides tips for effectively collecting outstanding payments from debtors. It discusses getting on top of unpaid invoices early, using personal visits, phone calls and letters as collection methods. Tips include being prepared with customer details, addressing excuses, maintaining a friendly but firm approach, and getting commitments for payment. The goal is to resolve issues while maintaining good customer relationships.
This document discusses managing technical debt in software development. It defines technical debt as increasing complexity in a system from changes without maintaining structure. There are different types of common technical debts, such as developer effectiveness, observability, scalability, fault tolerance, architectural flexibility, and security. The document provides examples of questions to evaluate debts in each area. It advocates strategically taking on some debt by making APIs extensible and having sufficient testing. Overall, it recommends measuring and monitoring debt levels, and scheduling regular time to refactor and improve code quality.
The document lists training courses on bad debt collection and taxation held in Saigon, Vietnam in February 2014 by Peligotraining.com. The courses ranged from half day to 3 days, with prices ranging from $100 to $500. All courses were on the same topic, held in the same location, and booked through Peligotraining.com.
This short document promotes creating presentations using Haiku Deck, a tool for making slideshows. It encourages the reader to get started making their own Haiku Deck presentation and sharing it on SlideShare. In just one sentence, it pitches the idea of using Haiku Deck to easily create engaging slideshows.
5 ideas to overcome delinquent payments without offending your customersrumadison
Do you have any past due accounts that are hard to collect on? The City of Decatur, Georgia, ran across this problem too while trying to collect occupational taxes owed by local attorneys. This presentation was made by the City to participants at the Transforming Local Government conference in Denver, Colorado, on Apr. 23, 2014. It shares insights on using performance measurements to identify problems like this and make process improvements to close the revenue gap.
Eliminating the opportunity for a patient to skip payment should be a top priority. Any hours spent collecting bills will erode and possibly even eliminate their profit margin. Let us help you create a strategy to overcome nonpayment.
Reduce Time to Value: Focus First on Configuration Management DebtChris Sterling
The value of software is only potential value until it is in users’ hands. There can be many roadblocks to software getting into those hands. These roadblocks tend to revolve around elaborate deployment pipelines stemming from Configuration Management Debt:
* Over-burdened release engineering and operations teams
* High coupling with centrally managed architecture element/component
* Source control practices that impact delivery velocity
* Too many variations/versions of the software supported in production
* Poor integration processes across architecture components and scaled team delivery
* Too many hand-offs between teams in order to release software to users
* Code changes feel too risky and takes too long to validate before releasing into production
* Poor documentation practices
In organizations that have effective configuration management practices it is common to see deployment pipelines that have a smaller number of hand-offs between teams, architectures that tend to be more malleable, and efficient validation processes. By focusing on reducing Configuration Management Debt it is simpler to identify aspects of the integration and release management process that need to be tackled in order to get working software in the hands of users sooner while reducing the bottlenecks in the organizational processes and practices.
In this session we will discuss specific approaches and examples on how reducing Configuration Management Debt leads to reducing other forms of software debt including:
* Smaller number of hand-offs: Platform Experience Debt
* Malleable architectures: Design Debt
* Efficient validation processes: Quality Debt
* More testable software: Technical Debt
This document summarizes a study on debt recovery techniques, problems, and prospects at BASIC Bank LTD's Shantinagar branch. The study investigated causes of non-performing loans through a survey. It found that major causes included economic downturns reducing business profits and consumer buying. It recommended that banks carefully assess borrowers' repayment abilities, monitor loan use closely, and address insider lending to minimize bad loans.
SATTA MATKA SATTA FAST RESULT KALYAN TOP MATKA RESULT KALYAN SATTA MATKA FAST RESULT MILAN RATAN RAJDHANI MAIN BAZAR MATKA FAST TIPS RESULT MATKA CHART JODI CHART PANEL CHART FREE FIX GAME SATTAMATKA ! MATKA MOBI SATTA 143 spboss.in TOP NO1 RESULT FULL RATE MATKA ONLINE GAME PLAY BY APP SPBOSS
Digital Marketing with a Focus on Sustainabilitysssourabhsharma
Digital Marketing best practices including influencer marketing, content creators, and omnichannel marketing for Sustainable Brands at the Sustainable Cosmetics Summit 2024 in New York
[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This presentation is a curated compilation of PowerPoint diagrams and templates designed to illustrate 20 different digital transformation frameworks and models. These frameworks are based on recent industry trends and best practices, ensuring that the content remains relevant and up-to-date.
Key highlights include Microsoft's Digital Transformation Framework, which focuses on driving innovation and efficiency, and McKinsey's Ten Guiding Principles, which provide strategic insights for successful digital transformation. Additionally, Forrester's framework emphasizes enhancing customer experiences and modernizing IT infrastructure, while IDC's MaturityScape helps assess and develop organizational digital maturity. MIT's framework explores cutting-edge strategies for achieving digital success.
These materials are perfect for enhancing your business or classroom presentations, offering visual aids to supplement your insights. Please note that while comprehensive, these slides are intended as supplementary resources and may not be complete for standalone instructional purposes.
Frameworks/Models included:
Microsoft’s Digital Transformation Framework
McKinsey’s Ten Guiding Principles of Digital Transformation
Forrester’s Digital Transformation Framework
IDC’s Digital Transformation MaturityScape
MIT’s Digital Transformation Framework
Gartner’s Digital Transformation Framework
Accenture’s Digital Strategy & Enterprise Frameworks
Deloitte’s Digital Industrial Transformation Framework
Capgemini’s Digital Transformation Framework
PwC’s Digital Transformation Framework
Cisco’s Digital Transformation Framework
Cognizant’s Digital Transformation Framework
DXC Technology’s Digital Transformation Framework
The BCG Strategy Palette
McKinsey’s Digital Transformation Framework
Digital Transformation Compass
Four Levels of Digital Maturity
Design Thinking Framework
Business Model Canvas
Customer Journey Map
Industrial Tech SW: Category Renewal and CreationChristian Dahlen
Every industrial revolution has created a new set of categories and a new set of players.
Multiple new technologies have emerged, but Samsara and C3.ai are only two companies which have gone public so far.
Manufacturing startups constitute the largest pipeline share of unicorns and IPO candidates in the SF Bay Area, and software startups dominate in Germany.
Part 2 Deep Dive: Navigating the 2024 Slowdownjeffkluth1
Introduction
The global retail industry has weathered numerous storms, with the financial crisis of 2008 serving as a poignant reminder of the sector's resilience and adaptability. However, as we navigate the complex landscape of 2024, retailers face a unique set of challenges that demand innovative strategies and a fundamental shift in mindset. This white paper contrasts the impact of the 2008 recession on the retail sector with the current headwinds retailers are grappling with, while offering a comprehensive roadmap for success in this new paradigm.
IMPACT Silver is a pure silver zinc producer with over $260 million in revenue since 2008 and a large 100% owned 210km Mexico land package - 2024 catalysts includes new 14% grade zinc Plomosas mine and 20,000m of fully funded exploration drilling.
Starting a business is like embarking on an unpredictable adventure. It’s a journey filled with highs and lows, victories and defeats. But what if I told you that those setbacks and failures could be the very stepping stones that lead you to fortune? Let’s explore how resilience, adaptability, and strategic thinking can transform adversity into opportunity.
Unveiling the Dynamic Personalities, Key Dates, and Horoscope Insights: Gemin...my Pandit
Explore the fascinating world of the Gemini Zodiac Sign. Discover the unique personality traits, key dates, and horoscope insights of Gemini individuals. Learn how their sociable, communicative nature and boundless curiosity make them the dynamic explorers of the zodiac. Dive into the duality of the Gemini sign and understand their intellectual and adventurous spirit.
Top 10 Free Accounting and Bookkeeping Apps for Small BusinessesYourLegal Accounting
Maintaining a proper record of your money is important for any business whether it is small or large. It helps you stay one step ahead in the financial race and be aware of your earnings and any tax obligations.
However, managing finances without an entire accounting staff can be challenging for small businesses.
Accounting apps can help with that! They resemble your private money manager.
They organize all of your transactions automatically as soon as you link them to your corporate bank account. Additionally, they are compatible with your phone, allowing you to monitor your finances from anywhere. Cool, right?
Thus, we’ll be looking at several fantastic accounting apps in this blog that will help you develop your business and save time.
HOW TO START UP A COMPANY A STEP-BY-STEP GUIDE.pdf46adnanshahzad
How to Start Up a Company: A Step-by-Step Guide Starting a company is an exciting adventure that combines creativity, strategy, and hard work. It can seem overwhelming at first, but with the right guidance, anyone can transform a great idea into a successful business. Let's dive into how to start up a company, from the initial spark of an idea to securing funding and launching your startup.
Introduction
Have you ever dreamed of turning your innovative idea into a thriving business? Starting a company involves numerous steps and decisions, but don't worry—we're here to help. Whether you're exploring how to start a startup company or wondering how to start up a small business, this guide will walk you through the process, step by step.
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NIMA2024 | De toegevoegde waarde van DEI en ESG in campagnes | Nathalie Lam |...BBPMedia1
Nathalie zal delen hoe DEI en ESG een fundamentele rol kunnen spelen in je merkstrategie en je de juiste aansluiting kan creëren met je doelgroep. Door middel van voorbeelden en simpele handvatten toont ze hoe dit in jouw organisatie toegepast kan worden.
Brian Fitzsimmons on the Business Strategy and Content Flywheel of Barstool S...Neil Horowitz
On episode 272 of the Digital and Social Media Sports Podcast, Neil chatted with Brian Fitzsimmons, Director of Licensing and Business Development for Barstool Sports.
What follows is a collection of snippets from the podcast. To hear the full interview and more, check out the podcast on all podcast platforms and at www.dsmsports.net
Storytelling is an incredibly valuable tool to share data and information. To get the most impact from stories there are a number of key ingredients. These are based on science and human nature. Using these elements in a story you can deliver information impactfully, ensure action and drive change.
1. Published by: Burt & Associates http://www.burtcollect.com/ The 7 Deadly Mistakes Companies Make When Try to Collect on Business Debit in a Bad Economy
2. Introduction In a challenging economy, much as we find ourselves now, even the most stable of companies can have cash flow challenges. Often, by the time a company realizes its account receivables are past 30 days, it may often be too late to effectively collect a majority of the monies owed. For that reason, and more, it’s helpful to know what to do and when. If only companies had a time-tested, proven “Collections Checklist” so they could stay on track and have the ability to respond quickly as the situation evolves. That’s why we prepared this special report. For a no-cost business collections quote, visit: http://www.burtcollect.com/
3. Introducion All so you’ll be armed with useful, practical, easy to implement advice from experienced experts in Commercial Collection . Here are the seven mistakes nearly every company, no matter their size, makes when attempting to collect on past due commercial debt For a no-cost business collections quote, visit: http://www.burtcollect.com/
4. Mistake #1: Failure to Pre-Screen the Customer Properly Think back before the past due company became a customer, Ask yourself… Were they a good fit in the first place? Did your sales people overrule your financial folks on doing business with that company? If so, were those reasons legitimate? Then again, was an exception made in the due diligence you undertake when evaluating a company’s financials? Obviously, the best way to avoid a collections mistake is to correct it before it happens. One way you do that is to maintain standards on who passes the “ do business with us test ” and who ultimately fails For a no-cost business collections quote, visit: http://www.burtcollect.com/
5. Mistake #1: Failure to Pre-Screen the Customer Properly You don't want to end up with this types of customers. From Collection of Debt Collection of Debt
6. Mistake #2: Bending the Rules on the Credit Application Credit reports have clearly defined guidelines on where companies fall on the “good to bad ” credit history timeline. The question is this: Did you set objective, consistent standards on who passed and who failed, or did you make an exception here or there? The idea of thinking of a customer’s best interests is admirable but not if it puts you in a compromising position when it comes to collecting on what they owe in a timely manner A good ongoing best practice is to closely monitor the rules you adhere to credit applications and only modify them as they make sense from all angles, not just in a desire to work with a company that can be closed as a customer and put up as a win for the sales department. For a no-cost business collections quote, visit: http://www.burtcollect.com/
7. Mistake #3: Failure to Review and Update Internal Collection Processes Collection process management should never follow a “set it and forget it” mentality. As the economy changes, and especially when it’s sinking, internal collection processes need to be reviewed and updated. A recommended step is having a defined credit and collection policy. This policy should include the following: A good ongoing best practice is to closely monitor the rules you adhere to credit applications and only modify them as they make sense from all angles, not just in a desire to work with a company that can be closed as a customer and put up as a win for the sales department. Payment terms Payment arrangement guidelines Forms of acceptable payment For a no-cost business collections quote, visit: http://www.burtcollect.com/
8. Mistake #4: Not Following State and Federal Collection Laws (and Applicable State Precedents) Picture this: not only are you out the money that needs to be collected but —surprise— now you’ve got a lawsuit dropped right in your lap. While following state and federal collection laws seems like an obvious no-brainer, it’s on this list for a reason. Laws sometimes vary by state. In addition, state collection laws detail specific credit collection practices and how they should be followed. For your benefit and convenience, we’ve prepared a comprehensive list of state collection laws you can access here: Summary of Colle ction Laws For a no-cost business collections quote, visit: http://www.burtcollect.com/
9. Mistake #4: Not Following State and Federal Collection Laws (and Applicable State Precedents) Once on that page, you can review key criteria by state. It does not reflect Federal Statutes, and it may not reflect amendments to the laws of all states. The chart should not be construed as legal advice and readers should not act upon the information contained in it without professional counsel For a no-cost business collections quote, visit: http://www.burtcollect.com/
10. Mistake #5:Lack of a ConsistentFollow-up Processon Past DueAccounts When it comes to collections, is your procedure personality or system-based? If it’s personality-based, that means you’re relying on how certain individuals at the company handle the situation. Problem is, if those individuals leave or aren’t available, your company is already playing from behind and not nearly as effective as it could be A follow-up process that’s system-based features a consistent set of operating procedures that clearly spells out what happens and when. Additionally, say your company does follow-up, is that approach consistent or is more scattershot? For a no-cost business collections quote, visit: http://www.burtcollect.com/
11. Mistake #6: Waiting Too Long to Pull the Collections “Trigger” Intentions are one thing and results are something completely different altogether. Your customer may intend to make good on the debt but their actions speak louder than their words ever could. The sad fact is the moment accounts receivables get past 30 days; the clock starts ticking on the likelihood of collecting on the debt. For example: Once a debt reaches 60 days , the average amount collection is roughly two-thirds or 66% . And when 90 days rolls around, the average debt collection has dropped to just 57% . Ask yourself this question: can you truly afford to wait and collect on only half the debt, even less or perhaps none at all? For a no-cost business collections quote, visit: http://www.burtcollect.com/
12. Mistake #7: Working With a Collections Company That’s Collecting the Wrong Kind of Attention The decision has been made to turn over collections to a 3rd party collections company. Does that company understand your industry’s own financial dynamics and challenges? Does that company have the systems, the technology, the manpower and most importantly, the experience and track record to collect on the debt? Conversely, maybe this company is attracting negative publicity because of their business practices or lack thereof. To protect yourself, your company and your business reputation, review this handy checklist of questions to ask ANY collections company that talks a good game: 1. How easy is it to keep track of accounts placed with them? 2. What certifications have they earned? 3. Do they use in-house investigators to track down elusive debtors? For a no-cost business collections quote, visit: http://www.burtcollect.com/
13. Mistake #7: Working With a Collections Company That’s Collecting the Wrong Kind of Attention 4. Have they been sued by debtors they are collecting from or by clients who have hired them? Are they properly licensed and bonded where legally required? 5. And, perhaps most important, are they committed to maintaining your relationships with your customers? Simply put, you’re already in the hole for monies owed, the last thing you want to pile on that rising debt are even more costs for damage control. For a no-cost business collections quote, visit: http://www.burtcollect.com/
14. How to Avoid the Mistakes and Get it Right the First Time Developing a sound collections policy is an integral part of running a successful company. We hope you have found this “7 Deadly Collections Mistakes” special report helpful in knowing exactly what to avoid in the first place. A natural next step upon reading this report is doing a quick audit of your collections practices and making changes based on the insights you’ve gained. You might find that you already have a number of accounts past the 30 days past due marker. You might be disheartened to see the amount of cash flow you’ve missed out on because of delinquent receivables. For a no-cost business collections quote, visit: http://www.burtcollect.com/
15. How to Avoid the Mistakes and Get it Right the First Time The good news is that Burt & Associates can help you, just as we’ve helped thousands of business owners across the country collect from the businesses that owe them money. There’s no need, at all, for you to spend another day going without the cash you’ve worked hard for. For a no- cost business debt co llection quote, You’ve learned in this report how to manage your collections going forward to keep yourself from getting delinquent receivables; let us handle collecting the money that’s already owed to you. You deserve to keep the cash you’ve earned . For a no-cost business collections quote, visit: http://www.burtcollect.com/