1. Rebecca Lisle Accounts Receivable Consultant 6655 W. Sahara Ave. Suite A 210 T 702.382.0058 ext 33 C 775.292.0424 F 702.382.6239 The tools to help you MIND YOUR OWN BUSINESS
5. Current Tax / Financial / Accounting Relationships Nevada Society of Certified Public Accountants American Financial Professionals Kentucky Bankers Association Oklahoma Society of Certified Public Accountants Tennessee Society of CPA's
6. Current Affinity Relationships Medical Group Management Association AdminiServe Partner for over 10 years Over 2700 members are clients Over $929MM submitted for collection Over $425MM collected for their members Southern Nevada Dental Society Started with less than 10 members as clients; Now 150 in the last 3 years Over $650K collected Over $10K paid out in royalties
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8. Start Early – Recover More W e all know that the older an account gets, the harder it becomes to collect. But did you know that at 60–90 days past due accounts begin to depreciate at the accelerated rate of ½% per day ? At 180 days past due funds have depreciated to the point where only 30% on average will ever be recovered . 0 30 60 90 120 150 180 210 240 270 300 330 365 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 10% 30% 74% 95% A G E O F A C C O U N T S IN DAYS Source: U.S. Department of Commerce study on depreciation of accounts held in-house Critical Depreciation Period 1/2% per day Transworld Systems Conventional Agency
9. Conventional 2 Step Approach to Collection In-house cost $20 to $30 Dartnell Institute of Business Research Phase I: IN-HOUSE COLLECTION FOR 6 MONTHS Past Due 30 Days 2 nd Statement Past Due 60 Days 3 rd Statement 1 st Letter Past Due 90 Days 4 th Statement 2 nd Letter 1 st Phone Call Past Due 120 Days 5 th Statement 3 rd Letter 2 nd Phone Call Past Due 150 Days 6 th Statement 4 th Letter 3 rd Phone Call Phase II: PERCENTAGE AGENCY/ATTORNEY Average Rate of Recovery = 10% to 20% ● Average Fees = 30% to 50% True Cost of Collections = 90% or more in lost revenue!
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14. 5 Contacts in 40 days Optional “Thank You” Letter sent whenever your customer pays
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16. It’s never been easier to submit new debtors! In just a few key strokes and about 10 seconds later, the process begins…