If you are considering employing the services of a debt recovery agency to outsource to, there are some simple things that you can do to make the recovery process easier, before you refer the debt.
Make your invoices fool proof, ensure that all of your business information is easy to find and correct. Include a purchase or order number, if one has been discussed. Make sure that you include all of your contact details, follow up with your customer to ensure that they received the invoice and the information is correct.
Call your clients as part of your customer service strategy. Call on the payment due date if nothing has been received. Make a note to call the client every seven days until you receive a payment, or at least a definite payment date.
Emails can be used in the debt collection procedure too, attach a copy invoice to speed up the process. Reiterate your payment terms and give them a deadline for queries or disputes with the invoice and this may push the clients to contact you to resolve the payment. Ensure that all correspondence details any further action to be taken, be it interest added or referring the debt to a collections agency, this way your client is under no illusions about the repercussions of non-payment.
A good debt recovery agency can assist you with difficult clients or aged debts. They will offer a range of services to best help you, whatever stage of the process you are at. It is ultimately your decision as to when you want to outsource any debt, however the sooner you outsource the debt, the easier it becomes to collect.
At Commercial Domestic Investigations, we understand how much damage unpaid invoices can do to your business. Our highly-motivated account managers take the time to understand your business and work tirelessly to recover any debt that you may have. We have a range of services available, from invoice collection, credit reporting to tracing authority, so we can assist you with any credit control problems that you have. If you want to discuss your requirements, contact us on 08444 159200 or email email@example.com.